- -
GN Store Nord delivered 49% organic revenue growth in Q2 2021- EBITA reached
DKK 635 million corresponding to an EBITA margin of 16.8% compared to 0.9% in Q2 2020, reflecting strong execution across the company - Free cash flow excl. M&A was
DKK 510 million in Q2 2021, primarily reflecting the growth in earnings - Leverage of 1.3x net interest-bearing debt to EBITDA, compared to 1.6x by the end of Q1 2021
- GN to launch new innovative lifestyle product extending the Jabra Enhance line of hearing enhancement solutions
- The financial guidance is confirmed
- - GN Hearing
- GN Hearing delivered organic revenue growth of 95% in Q2 2021 in a market continuously impacted by the ongoing COVID-19 pandemic. The market recovery continues to vary significantly across regions and countries
- EBITA improved to
DKK 153 million in Q2 2021 compared toDKK -336 million in Q2 2020 driven by the revenue growth and supported by prudent cost management, while continuing to invest in R&D and IT infrastructure - Free cash flow excl. M&A was
DKK 123 million in Q2 2021 compared toDKK -117 million in Q2 2020, mainly driven by the recovery in revenue and earnings
- - GN Audio
- GN Audio continued the strong performance and delivered 32% organic revenue growth in Q2 2021, driven by double-digit growth in both the enterprise and the consumer segment
- EBITA increased by 30% to
DKK 532 million in Q2 2021 corresponding to an EBITA margin of 21.7%. The EBITA margin development primarily reflects the strong topline development on top of continued investments in future growth opportunities - Free cash flow excl. M&A was
DKK 371 million in Q2 2021 compared toDKK 579 million in Q2 2020 driven by the growth in earnings, but offset by a strong development in net working capital in Q2 2020 - GN Audio continues to work closely with suppliers of components to address demand
Quotes from executive management
Financial overview Q2 2021
GN Hearing | GN Audio | ||||||||
DKK million | Q2 2021 | Q2 2020 | Growth | Q2 2021 | Q2 2020 | Growth | Q2 2021 | Q2 2020 | Growth |
Revenue | 1,322 | 715 | 85% | 2,456 | 1,944 | 26% | 3,778 | 2,659 | 42% |
Organic growth | 95% | -54% | 32% | 32% | 49% | -13% | |||
Gross profit | 832 | 332 | 151% | 1,264 | 1,009 | 25% | 2,096 | 1,341 | 56% |
Gross margin | 62.9% | 46.4% | +16.5%p | 51.5% | 51.9% | -0.4%p | 55.5% | 50.4% | +5.1%p |
EBITA | 153 | -336 | NA | 532 | 408 | 30% | 635 | 25 | |
EBITA margin | 11.6% | -47.0% | +58.6%p | 21.7% | 21.0% | +0.7%p | 16.8% | 0.9% | +15.9%p |
Earnings per share (EPS) - DKK | 3.29 | 0.06 | |||||||
Free cash flow excl. M&A | 123 | -117 | +240 | 371 | 579 | -208 | 510 | 517 | -7 |
Cash conversion | 80% | NA | NA | 70% | 142% | -72%p | 80% | 2,068% |
* Including "Other" |
Teleconference
For further information, please contact:
Investors and analysts
Henriette Wennicke
Vice President – Investor Relations &
Tel: +45 45 75 03 33
Or
Director – Investor Relations &
Tel: +45 45 75 92 57
Press and the media
Head of Media Relations & Corporate Public Affairs
Tel: +45 45 75 02 55
About
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
Visit our homepage GN.com - and connect with us on LinkedIn, Facebook and Twitter.
Attachments
- GNSN - Interim Report Q2 2021
- Interim Report Q2 2021 cover note
© OMX, source