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

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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
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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.


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   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
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1139891 09.10.2020 CET/CEST

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