DGAP-Ad-hoc: GN Store Nord A/S / Key word(s): Bond
GN Store Nord A/S: Interim Report Q2 2018: Continued double digit organic
revenue growth drives strong EBITA margin increase. GN Audio upgrades
organic growth guidance
22-Aug-2018 / 07:30 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
*- *GN Store Nord delivered 11% organic revenue growth in Q2 2018. Revenue
growth was 7% including around (5)% impact from development in foreign
exchange rates
- EBITA margin increased 1.5 percentage points in Q2 2018 as a function of
strong operational execution
- EPS increased 10% compared to Q2 2017
- Continued strong cash conversion at 75% in Q2 2018
- GN Audio's organic growth guidance for 2018 is upgraded to "16-19%" from
"up to 15%" following the strong performance in Q2 2018. The financial
guidance for GN Hearing is unchanged
- GN Hearing delivered 6% organic revenue growth in Q2 2018. Revenue growth
was 1% including around (5)% impact from the development in foreign exchange
rates
- EBITA increased 9% to DKK 278 million. The EBITA margin increased 1.4
percentage points vs Q2 2017 and reached 19.4%
- Free cash flow excl. M&A was DKK 106 million in Q2 2018, translating into
a cash conversion of 38%, reflecting investments in growth including
inventory build ups ahead of the launch of the world's first Premium-Plus
hearing aid: ReSound LiNX Quattro, announced early August
- GN Audio delivered unprecedented 19% organic revenue growth in Q2 2018.
Revenue growth was 16% including around (4)% impact from the development in
foreign exchange rates. The continued strong momentum was driven by Jabra's
professional headset business
- EBITA increased 23% to DKK 207 million, compared to DKK 168 million in Q2
2017. The EBITA margin increased 1.1 percentage points vs Q2 2017 and
reached 18.3%
- Free cash flow excl. M&A was DKK 289 million in Q2 2018 compared to DKK
131 million in Q2 2017. Cash conversion at 140%
*Quotes from the executive management*
Anders Hedegaard, CEO of GN Hearing: _"In Q2, we saw continued strong demand
in the important independent market for our ground-breaking ReSound LiNX 3D
product family. And in August we announced our new Premium-Plus ReSound LiNX
Quattro hearing aid, confirming that our innovation machine continues to
deliver. With the combination of ReSound LiNX 3D and the newly announced
ReSound LiNX Quattro we are on track to deliver on our promises for 2018."_
René Svendsen-Tune, CEO of GN Audio: _"I'm very pleased with the continued
strong execution and performance across the entire organization. Again in
Q2, we delivered market-leading organic growth - surpassing our own
ambitious targets. Our CC&O business continued to deliver strong double
digit organic growth, and our consumer business returned to positive organic
growth."_
*Teleconference*
GN will host a teleconference at 11.00 am CEST today. Please visit
www.gn.com/investor to access the teleconference. Presentation material will
be available on the website approximately one hour prior to the
teleconference.
For further information please contact:
Peter Justesen
VP - Investor Relations & Treasury
GN Store Nord A/S
Tel: +45 45 75 87 16
or
Rune Sandager
Senior Investor Relations Manager
GN Store Nord A/S
Tel: +45 45 75 92 57
22-Aug-2018 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: GN Store Nord A/S
Lautrupbjerg 7
2750 Ballerup
Denmark
Phone: +45 457 50000
E-mail: investor@gn.com
Internet: www.gn.com
ISIN: DK0010272632
WKN: 854734
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt,
Munich, Stuttgart, Tradegate Exchange
End of Announcement DGAP News Service
716243 22-Aug-2018 CET/CEST
(END) Dow Jones Newswires
August 22, 2018 01:30 ET (05:30 GMT)
