DGAP-Adhoc

GN Store Nord A/S: GN Store Nord upgrades financial guidance for 2021 - Seite 2

For full year 2021, GN Hearing confirms an expected organic revenue growth of more than 25% and an EBITA margin of more than 16%. It is still expected that the EBITA margin in a more normalized market in H2 2021 is recovering to our mid-term targets of more than 20%. No change to the guidance communicated on February 11, 2021.

For full year 2021, EBITA in "Other" is expected to be around DKK -185 million. No change to the guidance communicated on February 11, 2021.

As a consequence of the upgraded organic revenue growth guidance in GN Audio, GN Store Nord upgrades the financial guidance communicated on February 11, 2021 on growth in EPS from more than 50% to more than 60%.

COVID-19 risks
Due to the ongoing COVID-19 pandemic - which impacts GN in many ways - it must be stressed that the basic assumptions behind the guidance remain significantly more uncertain than normal. The COVID-19 situation has and will not only strongly impact GN's operational performance in 2021, but it will also impact predictability and visibility across GN's markets, channels and supply chain. Recently, certain components have been in global shortage impacting many different industries. GN has commitment from component suppliers to deliver on the upgraded guidance. This is based on an assumption that the GN suppliers will not face unexpected reductions in access to raw materials. The financial guidance is contingent on a gradual reopening of society and no major disruptions in the supply chain.

GN Store Nord will, as previously communicated, release its interim Q1 2021 report on May 6, 2021, with further details on the performance in Q1 2021 and will host a teleconference for investors and analysts on the same day.

For further information, please contact:

Investors and analysts
Henriette Wennicke
Vice President - Investor Relations & Treasury
Tel: [phone]

Or

Rune Sandager
Director - Investor Relations & Treasury 
Tel: [phone]


Press and the media
Lars Otto Andersen-Lange
Head of Media Relations & Corporate Public Affairs
Tel: [phone]



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.