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GN Store Nord A/S, DK0010272632

GN Store Nord A / S, DK0010272632

09.10.2020 - 08:32:04

GN Store Nord A/S: GN Store Nord upgrades GN Audio's financial guidance for 2020

^

DGAP-Ad-hoc: GN Store Nord A/S / Schlagwort(e): 9-Monatszahlen

GN Store Nord A/S: GN Store Nord upgrades GN Audio's financial guidance for

2020

09.10.2020 / 08:27 CET/CEST

Veröffentlichung einer Insiderinformation nach Artikel 17 der Verordnung

(EU) Nr. 596/2014, übermittelt durch DGAP - ein Service der EQS Group AG.

Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.

GN Store Nord upgrades GN Audio's financial guidance for 2020

Pre-release of preliminary key figures for Q3 2020 as a function of GN Audio

performing significantly better than projected during Q3 2020;

DKKm GN Hearing GN Audio Other

Revenue 1,318 2,420

Organic revenue growth -11% 71%

EBITA 169 550* -39

EBITA margin 12.8% 22.7%*

* Before gain from legal settlements and litigation of DKK 114 million. The

EBITA will be DKK 664 million, and the margin will be 27.4%, including the

gain.

Update on financial guidance for 2020

Based on the preliminary Q3 numbers, GN Audio upgrades the financial

guidance for 2020, all other parameters are unchanged.

For full year 2020, GN Audio upgrades the guidance communicated on August

19, 2020 from an organic revenue growth of more than 25% to more than 35%.

The EBITA margin is upgraded from more than 20% to more than 21%. The EBITA

margin expectation for GN Audio is before any extraordinary items related to

legal settlements and litigation.

For full year 2020, GN Hearing expects an organic revenue growth to be

better than -30%, and an EBITA margin of better than 0%. No change to

guidance communicated on August 19, 2020.

For full year 2020, EBITA in "Other" is expected to be around DKK -180

million. No change to guidance communicated on August 19, 2020.

Based on the updated expectations for GN Audio, GN Store Nord expects to

deliver a positive EPS for full year 2020. This EPS expectation is before

any extraordinary items related to legal settlements and litigation. No

change to guidance communicated on August 19, 2020.

Due to the COVID-19 situation - which impacts the company in many different

ways - it must be stressed that the basic assumptions behind the guidance

remain significantly more uncertain than normal.

COVID-19 risks

On August 19, 2020, GN updated the financial guidance for 2020. The above

upgraded guidance comes with great uncertainty due to the continued COVID-19

pandemic.

The COVID-19 situation has and will not only strongly impact GN's

operational performance in 2020, but it will also impact predictability and

visibility across GN's markets, channels and supply chain.

The full year guidance is contingent on no further re-tightening of COVID-19

related lockdown restrictions or new supply chain constrains.

GN Store Nord will, as previously communicated, release its interim Q3 2020

report on November 11, 2020, with further details on the performance in Q3,

and will host a teleconference for investors and analysts on the same day.

For further information, please contact:

Investors and analysts

Morten P. Toft

Vice President - Investor Relations & Treasury

Tel: +45 45 75 46 07

or

Rune Sandager

Senior Manager - Investor Relations

Tel: +45 45 75 92 57

Press and the media

Steen Frentz Laursen

Vice President - Group Communication

Tel: +45 20 65 34 20

Or

Lars Otto Andersen-Lange

Head of Media Relations & Corporate Public Affairs

Tel: +45 45 75 02 55

About GN Group

The GN Group enables people to Hear More, Do More and Be More through its

intelligent hearing, audio and video collaboration solutions. Inspired by

people and driven by our innovation leadership, we leverage technological

synergies between our hearing and audio divisions to deliver unique and

increasingly individualized user experiences in our products and solutions.

150 years ago, GN was founded with a truly innovative and global mindset.

Today, we honor that legacy with world-leading expertise in the human ear,

sound and video processing, wireless technology, miniaturization and

collaborations with leading technology partners. GN's solutions are marketed

by the brands ReSound, Beltone, Interton, Jabra, BlueParrott and FalCom in

100 countries. Founded in 1869, the GN Group employs 6,500 people and is

listed on Nasdaq Copenhagen (GN.CO).

Visit our homepage GN.com - and connect with us on LinkedIn, Facebook and

Twitter.

09.10.2020 CET/CEST Die DGAP Distributionsservices umfassen gesetzliche

Meldepflichten, Corporate News/Finanznachrichten und Pressemitteilungen.

Medienarchiv unter http://www.dgap.de

Sprache: Deutsch

Unternehmen: GN Store Nord A/S

Lautrupbjerg 7

2750 Ballerup

Dänemark

Telefon: +45 457 50000

E-Mail: investor@gn.com

Internet: www.gn.com

ISIN: DK0010272632

WKN: 854734

Börsen: Freiverkehr in Berlin, Düsseldorf, Frankfurt, Hamburg,

München, Stuttgart, Tradegate Exchange

EQS News ID: 1139891

Ende der Mitteilung DGAP News-Service

1139891 09.10.2020 CET/CEST

°

@ dgap.de