GN Hearing report strong Q1

Financials

GN Hearing Anders Hedegaard
Anders Hedegaard at AudiologyNOW! 2017. © V.A.

The GN group has announced quarter 1 results for 1St Jan – 31st March which show a 15% revenue growth in driven by strong performance in both GN Hearing and GN Audio.

Organic growth was 5%. In that period, GN Hearing’s revenue increased 13% (DKK 1,376 million), powered by the acquisition of Audigy. The American business management group ‘dedicated to helping private-practice audiology businesses stay independent and thrive’ was purchased a year ago by GN Hearing. EBITA (earnings before interest, taxes, and amortization) increased 9% to DKK 245 million, compared to DKK 225 million in Q1 2016.

In September 2016, GN launched its 2017 – 2019 strategy Hear More, Do More and Be More’‘ and the Group’s declared purpose is Making Life Sound Better with a vision to become the leader in intelligent audio solutions that transform people’s lives through the power of sound. GN Hearing’s focus for 2017 - 2019 is to reinforce the strategic fundamentals Innovation, Commercial, and People Excellence. Their innovation excellence approach will be achieved through focusing on three areas: Bringing the user even more in focus in product innovation; focusing even more on the core hearing aid technologies and the actual sound experience for the user – getting closer to natural hearing and finally, consistently delivering new and improved products to the market with true user benefits and features.

GN Hearing states that the divestment of GN Otometrics to Natus towards the end of 2016 further strengthens their focus and strategic direction as a dedicated hearing instrument company. A core strategic objective for GN Hearing is to further improve commercial execution, partner with – and not acquire – retail, and share best practices. GN Hearing has confirmed its financial guidance for 2017 of organic growth “more than 6%” and EBITA margin of “more than 20%.

Q2 started strongly with the announcement of the Company’s 5th generation 2.4 GHz hearing aid – ReSound LiNX 3D – offering unmatched sound quality, efficient fitting and ground-breaking remote fine-tuning.

Anders Hedegaard, CEO of GN Hearing said, “Q1 was a solid start to the year across regions and channels. Early April, at AAA we announced our 5th generation of 2.4 GHz hearing aids, ReSound LiNX 3D. With unmatched sound quality, efficient fitting and ground-breaking remote finetuning, ReSound LiNX 3D pioneers a new hearing care experience. And ReSound LiNX 3D demonstrates, once again, that GN Hearing is at the absolute forefront of innovation in the hearing aid industry.”

Source: GN Store Nord

V.A.