GN ReSound annual report: strong growth

© GN ReSound

Market

Denmark’s GN ReSound reports that revenue increased by 14% compared to 2014, while organic growth was up 6%. Earnings reached DKK 1,457 million (EUR 195 million), an increase of 16% versus 2014.

The company reported these strong results in a recent press release quoted by Nasdaq GlobeNewswire and indicated that the performance was the result of a relentless focus on commercialization of innovation during 2015.

In recent years, the company has completed its restructuring and is now developing its role as a market leader in hearing aids, implementing its 2014 - 2016 Innovation & Growth strategy. It has also put significant effort into improving its market understanding and establishing stronger and closer relationships with its customer base.

In the release, Anders Hedegaard, CEO of GN ReSound is quoted as saying that “Throughout 2015 we saw excellent performance, with a particularly strong Q4 2015 where organic growth in our Hearing Instrument business accelerated to 10%. We have solid momentum going into 2016, where we again expect to significantly outperform the market. The key focus in 2015 was the commercialization of our new breakthrough 4th generation of 2.4 GHz hearing aids – ReSound LiNX2. Strong commercial execution during the year helped us to capture around 50% of the global market unit growth”.

GN has a favorable outlook for 2016 with continued strong underlying development in an overall attractive market context for hearing aids, although the mobile segment may be somewhat volatile according to 2016 guidance.

Source: Nasdaq GlobeNewswire

C.S.