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2024-11-07 Kvartalsrapport 2024-Q3
2024-08-22 Kvartalsrapport 2024-Q2
2024-05-02 Kvartalsrapport 2024-Q1
2024-03-14 X-dag ordinarie utdelning GN 0.00 DKK
2024-03-13 Årsstämma
2024-02-08 Bokslutskommuniké 2023
2023-11-10 Kvartalsrapport 2023-Q3
2023-08-17 Kvartalsrapport 2023-Q2
2023-04-27 Kvartalsrapport 2023-Q1
2023-03-16 X-dag ordinarie utdelning GN 0.00 DKK
2023-03-15 Årsstämma
2023-02-09 Bokslutskommuniké 2022
2022-11-11 Kvartalsrapport 2022-Q3
2022-08-18 Kvartalsrapport 2022-Q2
2022-05-05 Kvartalsrapport 2022-Q1
2022-03-10 X-dag ordinarie utdelning GN 1.55 DKK
2022-03-09 Årsstämma
2022-02-10 Bokslutskommuniké 2021
2021-10-29 Kvartalsrapport 2021-Q3
2021-08-19 Kvartalsrapport 2021-Q2
2021-05-06 Kvartalsrapport 2021-Q1
2021-03-18 X-dag ordinarie utdelning GN 1.45 DKK
2021-03-17 Årsstämma
2021-02-11 Bokslutskommuniké 2020
2020-11-11 Kvartalsrapport 2020-Q3
2020-08-19 Kvartalsrapport 2020-Q2
2020-04-29 Kvartalsrapport 2020-Q1
2020-03-12 X-dag ordinarie utdelning GN 1.45 DKK
2020-03-11 Årsstämma
2020-02-05 Bokslutskommuniké 2019
2019-11-07 Kvartalsrapport 2019-Q3
2019-08-22 Kvartalsrapport 2019-Q2
2019-05-01 Kvartalsrapport 2019-Q1
2019-03-22 X-dag ordinarie utdelning GN 1.35 DKK
2019-03-21 Årsstämma
2018-11-15 Kvartalsrapport 2018-Q3
2018-08-22 Kvartalsrapport 2018-Q2
2018-05-02 Kvartalsrapport 2018-Q1
2018-03-14 X-dag ordinarie utdelning GN 1.25 DKK
2018-03-13 Årsstämma
2018-02-07 Bokslutskommuniké 2017
2017-11-02 Kvartalsrapport 2017-Q3
2017-08-17 Kvartalsrapport 2017-Q2
2017-05-04 Kvartalsrapport 2017-Q1
2017-03-15 X-dag ordinarie utdelning GN 1.15 DKK
2017-03-14 Årsstämma
2017-02-09 Bokslutskommuniké 2016
2016-11-03 Kvartalsrapport 2016-Q3
2016-08-11 Kvartalsrapport 2016-Q2
2016-05-04 Kvartalsrapport 2016-Q1
2016-03-11 X-dag ordinarie utdelning GN 0.99 DKK
2016-03-10 Årsstämma
2016-02-12 Bokslutskommuniké 2015
2015-10-30 Kvartalsrapport 2015-Q3
2015-08-13 Kvartalsrapport 2015-Q2
2015-04-29 Kvartalsrapport 2015-Q1
2015-03-20 X-dag ordinarie utdelning GN 0.90 DKK
2015-03-19 Årsstämma
2015-02-18 Bokslutskommuniké 2014
2014-11-14 Kvartalsrapport 2014-Q3
2014-08-14 Kvartalsrapport 2014-Q2
2014-05-02 Kvartalsrapport 2014-Q1
2014-03-24 X-dag ordinarie utdelning GN 0.84 DKK
2014-03-21 Årsstämma
2014-02-14 Bokslutskommuniké 2013
2013-11-15 Kvartalsrapport 2013-Q3
2013-08-14 Kvartalsrapport 2013-Q2
2013-05-03 Kvartalsrapport 2013-Q1
2013-03-22 X-dag ordinarie utdelning GN 0.49 DKK
2013-03-21 Årsstämma
2013-02-21 Bokslutskommuniké 2012
2012-11-15 Kvartalsrapport 2012-Q3
2012-08-09 Kvartalsrapport 2012-Q2
2012-05-03 Kvartalsrapport 2012-Q1
2012-03-23 X-dag ordinarie utdelning GN 0.27 DKK
2012-03-22 Årsstämma
2012-02-23 Bokslutskommuniké 2011
2011-11-10 Kvartalsrapport 2011-Q3
2011-08-11 Kvartalsrapport 2011-Q2
2011-05-05 Kvartalsrapport 2011-Q1
2011-03-28 X-dag ordinarie utdelning GN 0.19 DKK
2011-03-25 Årsstämma
2010-11-10 Kvartalsrapport 2010-Q3
2010-08-11 Kvartalsrapport 2010-Q2
2010-05-07 Kvartalsrapport 2010-Q1
2010-03-19 X-dag ordinarie utdelning GN 0.00 DKK
2009-03-24 X-dag ordinarie utdelning GN 0.00 DKK
2008-03-12 X-dag ordinarie utdelning GN 0.00 DKK
2007-03-22 X-dag ordinarie utdelning GN 0.00 DKK
2006-03-22 X-dag ordinarie utdelning GN 0.60 DKK
2005-03-15 X-dag ordinarie utdelning GN 0.60 DKK
2004-04-01 X-dag ordinarie utdelning GN 0.60 DKK

Beskrivning

LandDanmark
ListaLarge Cap Copenhagen
SektorHandel & varor
IndustriSällanköpsvaror
GN Store Nord är verksamt inom medicinteknik. Bolaget är specialiserat inom intelligenta ljudlösningar för hörapparater - och headset. Hörapparaterna är trådlösa och används vanligtvis hos personer med nedsatt hörsel men säljs även för privat bruk. Produkterna säljs under separata varumärken och inkluderar exempelvis ReSound och Jabra. Bolaget har anor tillbaka till 1869 och har sitt huvudkontor i Ballerup, Danmark.
2024-05-02 06:59:41

Highlights

  • GN delivered continued execution across the three divisions resulting in 5% organic revenue growth for the Group
  • The Hearing division delivered continued market share gains leading to 14% organic revenue growth, resulting in 8.2 percentage point increase in the divisional profit margin supported by synergies and a successful ReSound Nexia roll-out
  • The Enterprise division continued its relentless commercial execution in a stabilizing market leading to 0% organic revenue growth. The divisional profit margin increased by 5.7 percentage points driven by easing freight costs, synergies, product mix, and strict cost control
  • The Gaming & Consumer division delivered organic revenue growth of 0% due to a demanding comparison base from Q1 2023. The divisional profit margin increased by 3.8 percentage points driven by easing freight costs, synergies, and less promotional activity, while investing in sales and marketing
  • Group EBITA grew 114% to DKK 538 million, equal to an EBITA margin of 12.5%, which was an improvement of 6.5 percentage points compared to adj. EBITA in Q1 2023, driven by improved divisional profits, tightly managed R&D and general admin costs. EBITA was supported by total One-GN synergies of DKK ~90 million realized in the quarter
  • Free cash flow excl. M&A ended at DKK 46 million compared to DKK -578 million in Q1 2023 primarily driven by a significant increase in operating cash flow. As a consequence of the strong margin expansion and stable development in net interest-bearing debt, the adj. leverage decreased from 4.5x in Q4 2023 to 4.0x in Q1 2024
  • The full year guidance is confirmed

Financial guidance for 2024

  Organic revenue growth EBITA margin Free cash flow excl. M&A (DKK million)
GN Store Nord 2% to 8% 12% to 14% >700

Quotes from Executive Management
Peter Karlstromer, CEO of GN Store Nord, comments: The results in Q1 2024 demonstrates that we are on track with the transformation of GN and delivering the business performance and value creation we have promised. Our Hearing division continues its great momentum supporting existing and new customers, and we are pleased to continue to gain share. Our Enterprise division has executed well based on our industry-leading product portfolio and strong position in a stabilizing market. In Gaming & Consumer we were up against difficult comparison numbers from last year and, still, we delivered revenue on par with last year, which was in line with how we planned. Across the Group we see strong improvement in profitability. So, over-all, we are moving in the right direction.

Financial overview Q1 2024

 GN Store NordHearing divisionEnterprise divisionGaming & Consumer division
DKK millionQ1 2024Q1 2023GrowthQ1 2024Q1 2023GrowthQ1 2024Q1 2023GrowthQ1 2024Q1 2023Growth
Revenue4,3034,2142%1,7371,6227%1,7511,767-1%815825-1%
Organic growth5%7% 14%15% 0%-3% 0%17% 
Gross profit*2,2752,05811%1,0899969%9638839%22317925%
Gross profit margin*52.9%48.8%4.1%p62.7%61.4%1.3%p55.0%50.0%5.0%p27.4%21.7%5.7%p
Divisional profit*1,24995131%59942740%61351818%376517%
Divisional profit margin*29.0%22.6%6.4%p34.5%26.3%8.2%p35.0%29.3%5.7%p4.5%0.7%3.8%p
EBITA*538251114%         
EBITA margin*12.5%6.0%6.5%p         
Free cash flow excl. M&A46-578624         

*Excluding non-recurring items in Q1 2023

Teleconference
GN Store Nord will host a teleconference at 11.00 a.m. CET on May 2, 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.