GN Hearing delivers a 6 % increase in revenue for 2016

Finance

GN hearing financial results 2016
© GN

The Danish group GN has released its financial results for 2016. GN Hearing, the audiology branch of GN Store Nord, reported revenues of DKK 5.2 billion, i.e. approximately EUR 694 million, an increase of 14% compared to 2015. The group also recorded 6% organic growth.

The year was marked by the acquisition of the Audigy group, the sale of Otometrics to US group Natus Medical and by the company’s technological partnership with Cochlear under the Smart Hearing Alliance. GN Audio improved its presence in North America in 2016 with the acquisition of VXi Corporation, a leading innovative US based manufacturer of professional headset solutions.

In 2016, GN Hearing launched two major products: ReSound Enzo², the super power hearing aid which it revealed in March during the AudiologyNOW! congress; and a brand new BTE from the ReSound LiNX² range, launched in September.

GN also announced the upcoming launch of its fifth generation of hearing aids based on wireless 2.4 GHz technology in the course of 2017, as well as its new strategy for 2017-2019: Hear More, Do More, Be More.

For 2017, GN Hearing expects to deliver further revenue growth, with an organic growth of over 6%.

Anders Hedegaard, CEO of GN Hearing, was excited to underline that “For the sixth consecutive year, GN Hearing gained market shares in a very competitive hearing-aid market. This achievement was driven by our ability to drive commercial excellence through our market-leading innovative product portfolio. In 2016, we also laid the foundation for an even more focused hearing instrument company with the strategic acquisition of US group Audigy and the divestment of Otometrics, our branch dedicated to diagnostic equipment.”

Source: GN Hearing

B.S.