- Published on 08 November 2016
GN Hearing and GN Audio have reported strong growth for the third quarter on the basis of figures released by the companies in early November.
GN recorded 13% revenue growth in Q3 2016 mainly driven by strong performance in both GN Hearing, supported by the acquisition of Audigy, and in GN Audio, while organic growth was 6%. Earnings per share (EPS) was also up significantly at + 21% compared to Q3 2015 (DKK 1.51). GN Audio showed particularly strong growth in North America. The solid performance registered over this period made it possible for the company to confirm its overall financial guidance for 2016.
Anders Hedegaard, CEO of GN Hearing, commented on the results, saying “In Q3 2016, I am pleased to deliver results exceeding the strong performance in the same period last year and to see the organic revenue growth translating into solid cash generation. Also, with the announcement of the divestment of Otometrics, GN Hearing further strengthens its position as a dedicated hearing instrument company.”
Concerning GN Audio, CEO René Svendsen-Tune commented that “In Q3 2016, we continued to improve our very strong momentum in our CC&O business [Contact Center and Office Headsets]. It is satisfying to see the strong focus on professional execution within the organization – the driver behind our continued market share gains and strengthened leadership in the attractive CC&O market.”
In September 2016, GN launched its strategy for the 2017-2019 period, confirming its financial targets for the coming three years. This new strategy, called “Hear more, do more, be more”, focuses on innovation, as well as commercial and people excellence.Source: GN Store Nord