Strong growth in Hearing and Gaming, offset by declines in Enterprise and Consumer

From GlobeNewswire: 2025-02-06 01:00:26

In 2024, GN Store Nord delivered revenue of DKK 18.0 billion with organic revenue growth of 1%, driven by strong performance in Hearing and Gaming, offset by declines in Enterprise and Consumer. The company reported an EBITA of DKK 2.2 billion and a margin of 12%, with free cash flow ending at DKK 1.1 billion. The financial performance reflects progress in the one-GN transformation, focusing on simplicity, efficiency, and innovation. Looking ahead to 2025, GN expects organic revenue growth of 3-7% and an EBITA margin of 12-14%, supported by market share gains and new product launches.

In Q4 2024, GN Store Nord delivered revenue of DKK 5.0 billion, with organic revenue growth of 4%. The company reported a substantial increase in EBITA to DKK 688 million and a margin of 13.7%. The Hearing division saw organic revenue growth of 7%, while the Enterprise division experienced -2% growth and the Gaming & Consumer division -8% growth. Despite challenges, GN remains focused on shareholder value, with a reduced leverage of 3.5x. Looking forward, GN expects further margin improvements in 2025 towards a long-term target of 16-17%.



Read more at GlobeNewswire: Strong growth in Hearing and Gaming