Interim Report Q2 2024: Strong execution leading to 5% organic growth and margin expansion

 HighlightsGN executed strongly across the three divisions resulting in 5% organic revenue growth for the GroupThe Hearing division continued to gain significant market share leading to 10% organic revenue growth, resulting in 5.3 percentage point increase in the divisional profit margin supported by synergies and the successful ReSound Nexia roll-outThe Enterprise division continued its focused execution leading to -3% organic revenue growth in a stabilizing market. The divisional...

Ballerup, 22/08/2024 (informazione.news - comunicati stampa - salute e benessere)

  Highlights

Financial guidance for 2024

Quotes from Executive Management
Peter Karlstromer, CEO of GN Store Nord, comments:  “In Q2, we continued to execute well. We defended, or expanded, our market leading positions, while improving our underlying margins. In parallel, we are pursuing the One-GN transformation leading to synergies and a set-up that helps us drive further success into the future. The wind-down of the Elite and Talk product lines is progressing in accordance with our plans. Recently, we also announced our decision to divest Dansk HøreCenter, which will allow us to further focus our resources and energy to drive innovation and success for our customers world-wide . ”

Financial overview Q2 2024

Teleconference
GN Store Nord will host a teleconference at 11.00 a.m. CET on August 22, 2024. Please visit www.gn.com/investor to access the teleconference. Presentation material will be available on the website prior to the start of the teleconference.

For further information, please contact:

Investor Relations
Rune Sandager +45 45 75 92 57


Media Relations
Steen Frentz Laursen +45 20 65 34 20

Forward-looking statements
The forward-looking statements in this report reflect the management's current expectations of certain future events and financial results. Statements regarding the future are, naturally, subject to risks and uncertainties, which may result in considerable deviations from the outlook set forth. Furthermore, some of these expectations are based on assumptions regarding future events, which may prove incorrect. Changes to such expectations and assumptions will not be disclosed on an ongoing basis, unless required pursuant to general disclosure obligations to which GN is subject.

Factors that may cause actual results to deviate materially from expectations include – but are not limited to – general economic developments and developments in the financial markets as well as foreign exchange rates, technological developments, changes and amendments to legislation and regulations governing GN's markets, changes in the demand for GN's products, competition, fluctuations in sub-contractor supplies, and developments in ongoing litigation (including but not limited to class action and patent infringement litigation in the United States).

For more information, please see the "Management's report" and "Risk management” sections in the Annual Report. This Report should not be considered an offer to sell securities in GN.

About GN
GN brings people closer through our leading intelligent hearing, audio, video, and gaming solutions. Inspired by people and driven by innovation, we deliver technologies that enhance the senses of hearing and sight. We help people with hearing loss overcome real-life challenges, improve communication and collaboration for businesses, and provide great experiences for audio and gaming enthusiasts. GN was founded more than 150 years ago with a vision to connect the world. Today, inspired by our strong heritage, GN touches more lives than ever with our unique expertise and the broadest portfolio of products and services in our history – bringing people closer to what is important to them.

We market our solutions with the brands Jabra, ReSound, SteelSeries, Beltone, Interton, BlueParrott, Danavox, and FalCom in 100 countries. Founded in 1869, GN Group employs more than 7,000 people and is listed on Nasdaq Copenhagen (GN.CO).

Visit our homepage GN.com and connect with us on LinkedIn, Facebook and X.

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