Q2 2025 GN Store Nord A/S Earnings Call Transcript
Key Points
- GN Store Nord AS (GNNDY) achieved an 8% organic growth in its Hearing division, driven by the successful launch of the Vivia hearing aid.
- The company reported a strong EBITA margin of 13%, reflecting broad-based growth, margin improvements, and prudent cost management.
- GN Store Nord AS (GNNDY) successfully executed significant changes in its supply chain, enhancing flexibility and agility to respond to future uncertainties.
- The Enterprise division maintained a strong market-leading position despite challenges, with FalCom contributing positively with almost DKK100 million.
- The company secured a new facility agreement allowing financing up to EUR1 billion with improved terms and conditions, reducing net financial items by 2026.
- The Enterprise division experienced a 7% negative organic revenue growth due to global trade uncertainty and a weak macro environment in Europe.
- Gaming division faced challenges with 0% organic growth, impacted by tariffs and lower consumer sentiments.
- The company anticipates a softer EBITA margin in Q3 due to full tariff costs impacting margins in Gaming and commercial investments across divisions.
- GN Store Nord AS (GNNDY) is trending towards the lower half of its original growth assumptions for the Hearing division due to lower-than-expected market growth.
- The company faces ongoing challenges from tariffs, with a 1% negative EBITA margin impact expected this year, half of which is of a one-off nature.
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Hello, everyone, and welcome to GN's conference call in relation to our Q2 report announced this morning. Participating in today's call is Group CEO, Peter Karlstromer; Group CFO, Soren Jelert; and myself, Rune Sandager, Head of Investor Relations. The presentation is expected to last about 20 minutes, after which we will turn to the Q&A session. The presentation is already uploaded on gn.com. And with that, I'm happy to hand over to Peter for some opening remarks.
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Thank you, Rune, and thank you all for joining us today. In Q2, we executed well and successfully navigated a challenged market environment with uncertain trade policies. We control our revenue and margin and have set us up for successfully for delivering on our year in line with our guidance. Importantly, we also executed significant changes in our supply chain
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