GN Store Nord reported mixed Q3 performance with 10% organic revenue growth in Hearing division and -7% in Enterprise division, but highlighted margin expansion and strong cash flow generation.

From GlobeNewswire: 2024-11-06 11:54:00

In Q3 2024, GN Store Nord reported a 10% organic revenue growth in the Hearing division, with a 5.9% increase in profit margin. The Enterprise division faced sell-in pressure, resulting in -7% organic revenue growth. Gaming & Consumer division profits were impacted by wind-down efforts, resulting in a 4.0% profit margin.

For 2024, GN Store Nord forecasts 1-2% organic revenue growth, 12-13% EBITA margin, and free cash flow exceeding DKK 1,100 million. Key assumptions include market volume growth of 4-6% in the Hearing division, -3% organic growth in the Enterprise division, and -10% to -2% in Gaming & Consumer.

GN Store Nord CEO highlighted the company’s margin increase and strong cash flow generation in Q3 2024. The Hearing division performed well, while the Enterprise division faced challenges in certain European markets. Gaming division is expected to return to growth in Q4. Overall progress is being made in preparing for future growth.

A teleconference will be held on November 7, 2024, for further discussion. Interested parties can access the presentation material on www.gn.com/investor. The forward-looking statements in the report reflect management’s expectations, subject to risks and uncertainties. Factors affecting results include economic developments, competition, and technological changes.



Read more at GlobeNewswire:: Further margin expansion and strong