- - GN Store Nord
- - GN Hearing
- - GN Audio
Quotes from executive management
Gitte Aabo, CEO of GN Hearing, comments: “GN Hearing is well positioned to return to highly profitable growth, supported by the strongest and broadest product portfolio ever. As vaccines are generally becoming more available and the fact that people gradually adapt to life with various degrees of COVID-19 restrictions, we see the demand for hearing aids return towards a more normalized level.”
René Svendsen-Tune, CEO of GN Audio, comments: “Q1 further accelerated GN Audio’s leadership in solutions for flexible working, and our highly scalable business model delivered exceptionally 82% growth. With our recent launch of the new Jabra PanaCast camera line-up, we are set to continue our growth agenda with a portfolio consisting of the most innovative and advanced collaboration solutions for the new normal.”
Financial overview Q1 2021
GN Hearing | GN Audio | GN Store Nord* | |||||||
DKK million | Q1 2021 | Q1 2020 | Growth | Q1 2021 | Q1 2020 | Growth | Q1 2021 | Q1 2020 | Growth |
Revenue | 1,234 | 1,314 | -6% | 2,876 | 1,653 | 74% | 4,110 | 2,967 | 39% |
Organic growth | 1% | -14% | 82% | 22% | 46% | 3% | |||
Gross profit | 769 | 841 | -9% | 1,480 | 827 | 79% | 2,249 | 1,668 | 35% |
Gross margin | 62.3% | 64.0% | -1.7%p | 51.5% | 50.0% | +1.5%p | 54.7% | 56.2% | -1.5%p |
EBITA | 98 | 55 | 78% | 714 | 288 | 148% | 753 | 300 | 151% |
EBITA margin | 7.9% | 4.2% | +3.7%p | 24.8% | 17.4% | +7.4%p | 18.3% | 10.1% | +8.2%p |
Earnings per share (EPS) - DKK | 3.66 | 0.78 | 369% | ||||||
Free cash flow excl. M&A | -204 | -66 | -138 | 438 | -67 | 505 | -22 | -160 | 138 |
Cash conversion | -208% | -120% | -88%p | 61% | -23% | +84%p | -3% | -53% | +50%p |
* Including "Other" |
Teleconference
GN Store Nord will host a teleconference at 11.00 a.m. CET today. 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:
Investors and analysts
Henriette Wennicke
Vice President – Investor Relations & Treasury
Tel: +45 45 75 03 33
Or
Rune Sandager
Director – Investor Relations & Treasury
Tel: +45 45 75 92 57
Press and the media
Lars Otto Andersen-Lange
Head of Media Relations & Corporate Public Affairs
Tel: +45 45 75 02 55
About GN Group
The GN Group enables people to Hear More, Do More and Be More through its intelligent hearing, audio and video collaboration solutions. Inspired by people and driven by our innovation leadership, we leverage technological synergies to deliver unique and increasingly individualized user experiences in our products and solutions.
150 years ago, GN was founded with a truly innovative and global mindset. Today, we honor that legacy with world-leading expertise in the human ear, sound and video processing, wireless technology, miniaturization and collaborations with leading technology partners. GN's solutions are marketed by the brands ReSound, Beltone, Interton, Jabra, BlueParrott and FalCom in 100 countries. Founded in 1869, the GN Group employs 6,500 people and is listed on Nasdaq Copenhagen (GN.CO).
Visit our homepage GN.com - and connect with us on LinkedIn, Facebook and Twitter.
Attachments