GN.CO - GN Store Nord A/S

Copenhagen - Copenhagen Real-time price. Currency in DKK
367.40
-8.00 (-2.13%)
As of 12:45PM CEST. Market open.
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Previous close375.40
Open376.00
Bid367.40 x 0
Ask367.40 x 0
Day's range365.50 - 377.20
52-week range217.40 - 414.80
Volume105,544
Avg. volume668,057
Market cap47.303B
Beta (5Y monthly)0.63
PE ratio (TTM)37.20
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield1.45 (0.39%)
Ex-dividend date12 Mar 2020
1y target estN/A
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Press releases
  • Globe Newswire

    Trading in GN Store Nord shares by board members, executives and associated persons

    GN Store Nord A/S has received notification pursuant to article 19 of regulation (EU) no. 596/2014 of the below transactions related to shares in GN Store Nord A/S made by persons discharging managerial responsibilities in GN Store Nord A/S and/or persons closely related with them. 1Details of the person discharging managerial responsibilities/person closely associated a)NameJukka Pekka Pertola 2Reason for the notification a)Position/statusDeputy Chairman of the board of directors b)Initial notification/AmendmentInitial notification 3Details of the issuer a)NameGN Store Nord A/S b)LEI5493008U3H3W0NKPFL10 4Details of the transaction(s) a)Description of the financial instrument, type of instrument Identification codeShares   DK0010272632 b)Nature of the transactionPurchase of shares c)Price(s) and volume(s)Price(s) DKK 364.0 per share Volume(s) 1,000 shares   d)Aggregated information \- Aggregated volume \- Price  NA e)Date of the transaction2020-06-22 f)Place of the transactionNasdaq Copenhagen For further information, please contact:Investors and analysts Morten P. Toft Vice President – Investor Relations & Treasury Tel: +45 45 75 46 07OrRune Sandager Senior Manager – Investor Relations  Tel: +45 45 75 92 57 Press and the media Lars Otto Andersen-Lange Head of Media Relations & Corporate Public Affairs Tel: +45 45 75 02 55 About GN GroupThe GN Group is a global leader in intelligent audio solutions that let you hear more, do more and be more than you ever thought possible. Our ambitious 150-year journey has taken us from telegraph cables to radio waves and intelligent audio engineering. To celebrate our anniversary, we look to our unique competences within medical, professional and consumer audio solutions to help us continue to transform lives through the power of sound.   GN was founded with a truly innovative and global mindset. Today, we honor that legacy with world-leading expertise in the human ear, sound, wireless technology, miniaturization and collaborations with leading technology partners. GN's solutions are marketed by the brands ReSound, Beltone, Interton, Jabra and BlueParrott in 100 countries. Founded in 1869, the GN Group employs 6,000 people and is listed on Nasdaq Copenhagen (GN.CO).Visit our homepage GN.com, get to know our innovation and leadership, and connect with us on LinkedIn, Facebook and Twitter.Attachment * Announcement 26 - Trading in GN Store Nord shares by board members, executives and associated persons

  • Globe Newswire

    Interim Report Q1 2020: GN delivers 3% organic revenue growth with EBITA of DKK 300 million

    * GN impacted at three levels from COVID-19, therefore guidance was withdrawn on April 3, 2020 * Leverage of 2.3 times net interest-bearing debt to EBITDA (2.3 times on March 31, 2019) * Operating in both the hearing aid and audio space, and with no forward integration, is beneficial for the company during these challenging times      - - GN Store Nord * GN delivered 3% organic revenue growth in Q1 2020. Revenue growth was 4% including 2% impact from the development in foreign exchange rates and -1% impact from M&A * By the end of Q1 2020, GN had cash and cash equivalents of DKK 589 million and a net interest-bearing debt to EBITDA leverage ratio of 2.3 times. The balance sheet remains very sound with ample sources of liquidity      - - GN Hearing * GN Hearing saw an accelerating impact from COVID-19 on the sale of hearing aids, particularly towards the end of the quarter. GN Hearing delivered an organic growth of -14% in Q1 2020. Revenue growth was -13% including 3% impact from the development in foreign exchange rates and -2% impact from M&A * EBITA was DKK 55 million in Q1 2020, due to the development in revenue, more than offsetting short-term OPEX reductions * Free cash flow excl. M&A was DKK -66 million in Q1 2020 compared to DKK -37 million in Q1 2019, which reflected the lower revenue and traditional seasonality      - - GN Audio * GN Audio saw very strong Enterprise demand for home office products as enterprises of all sizes, and across various industries, prepared their employees for working from home due to COVID-19. Towards the end of Q1, GN Audio saw reduced demand for Consumer headsets due to the impact from COVID-19. GN Audio delivered an organic growth of 22% in Q1 2020. Revenue growth was 24%, including 1% impact from the development in foreign exchange rates and 1% impact from M&A * EBITA increased by 49% to DKK 288 million in Q1 2020, driven by the strong revenue growth, on top of a negative gross margin impact from increased freight and production costs as a result of COVID-19 as well as tariffs * Free cash flow excl. M&A was DKK -67 million in Q1 2020 compared to DKK 78 million in Q1 2019, which reflected the strong revenue growth impacting net working capital negativelyQuotes from executive management Gitte Aabo, CEO of GN Hearing, comments: “The year initially was off to a good start, but recent developments related to the COVID-19 pose challenges on demand as people are restricted to stay at home, which significantly impacted our Q1 performance, and we now expect Q2 to be even more severely impacted by COVID-19. On this background, we have accelerated the launch of ReSound Assist Live, which was made available in key markets on April 2, 2020. This technology enables a new, groundbreaking way to access hearing care by reducing the need for in-office visits at a time when older, more vulnerable populations are advised to stay at home.”René Svendsen-Tune, CEO of GN Audio, comments: “Based on GN Audio’s swift response to the growing demand in the second half of Q1 2020, as companies prepare for employees working from home, GN Audio delivered 22% organic growth in Q1 2020. At the same time, the production output has gradually recovered. GN Audio expects the current high demand to continue into Q2 2020, as companies establish new ways of working. Beyond this current exceptional demand, the global uncertainties allow GN Audio very limited visibility beyond Q2 on both the supply and demand side.”Marcus Desimoni, CFO of GN Store Nord, comments: “We face the current adverse market conditions with a very sound balance sheet and ample sources of liquidity. As such, we have a solid foundation to face the financial challenges ahead of us.”Financial highlights Q1 2020:  GN Hearing GN Audio GN Store Nord DKK million Q1 2020 Q1 2019 Growth Q1 2020 Q1 2019 Growth Q1 2020 Q1 2019 Growth Revenue 1,314 1,507 -13% 1,653 1,333 24% 2,967 2,840 4% Organic growth -14% 8%   22% 36%   3% 19%   Gross profit 841 1,047 -20% 827 707 17% 1,668 1,754 -5% Gross margin 64.0% 69.5% -5.5%p 50.0% 53.0% -3.0%p 56.2% 61.8% -5.6%p EBITA 55 282 -80% 288 193 49% 300 439 -32% EBITA margin 4.2% 18.7% -14.5%p 17.4% 14.5% +2.9%p 10.1% 15.5% -5.4%p Earnings per share (EPS) - DKK             0.78 1.96 -60% Free cash flow excl. M&A -66 -37 -29 -67 78 -145 -160 -13 -147 Financial guidance for 2020 The COVID-19 situation has and will not only impact GN’s operational performance in 2020, but it will also impact predictability and visibility across markets, partners and channels. Therefore, GN withdrew its financial guidance for 2020 on April 3, 2020Teleconference GN Store Nord will host a teleconference at 11.00 a.m. CET today. Please visit www.gn.com/investor to access the teleconference. Presentation material will be available on the website prior to the start of the teleconference.For further information, please contact: Investors and analysts Morten P. Toft Vice President – Investor Relations & Treasury Tel: +45 45 75 46 07OrRune Sandager Senior Manager – Investor Relations  Tel: +45 45 75 92 57 Press and the media Lars Otto Andersen-Lange Head of Media Relations & Corporate Public Affairs Tel: +45 45 75 02 55 About GN GroupThe 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.Attachments * GNSN - Interim Report Q1 2020 * Interim Report Q1 2020 cover note

  • Globe Newswire

    GN Store Nord announces preliminary Q1 2020 revenue and updates 2020 financial guidance due to COVID-19

    GN Store Nord issued its mid-term financial guidance and financial guidance for 2020 with its annual report on February 5, 2020. As stated in the annual report in regard to the guidance for 2020: “The financial guidance does not include any impact from the Coronavirus outbreak. Based on our current knowledge we expect to see an impact on Q1 financials. Provided that the situation resolves during February, we assume to follow guidance for the rest of the year.”At the Annual General Meeting on March 11, 2020, GN’s Chairman of the Board outlined that we were seeing an accelerating impact on our businesses from COVID-19: “Now we are approaching the middle of March, and nothing has been resolved yet concerning this virus. Rather, it is clear that the impact on global economic activity will be far greater than previously assumed, and GN as a company is affected at three levels: (i) our production in China; (ii) supply of components from our subcontractors in the same way as the entire technology sector; and (iii) now also a negative impact on demand as consumers grow concerned and stay at home. As a result – as we view the situation today – GN overall will experience minimal or no organic revenue growth in the first quarter. And if the coronavirus situation continues as now, we will see an impact in the second quarter as well.” Our preliminary revenue numbers for Q1 2020 indicate total GN revenue of DKK ~2,950 million compared to DKK 2,840 million in Q1 2019, with GN Hearing showing organic growth of ~(15)% and GN Audio showing organic growth of ~22%. In GN Hearing, we have seen accelerating impact from COVID-19 on the sale of hearing aids, particularly towards the end of the quarter, and in Q2 2020 we expect continued severe business impact on revenue as the virus spread in Europe and, especially, in the U.S. GN Audio, on the other hand, is uniquely positioned to support the world in getting through this crisis, and thereby to continue delivering strong performance. In Q1 2020, we have seen very strong demand for home office products as enterprises of all sizes, and across various industries, prepare their employees for working from home.The fundamentals of GN Store Nord’s operating model continue to be very much intact, and we expect the fundamentals of the markets to return when the virus is behind us.The COVID-19 situation has and will not only strongly impact our operational performance this year, but it will also impact predictability and visibility across markets, partners and channels as we continue the year. Therefore, we find it appropriate that we withdraw our financial guidance for 2020.Appropriate operational and expense related actions have been taken. We are continuously assessing the developments, and additional prudent and diligent actions will be taken as needed going forward. To preserve a strong balance sheet, GN Store Nord will postpone share buybacks (program intended to be initiated following the approvals by the Annual General Meeting on March 11, 2020), until we have better visibility to the consequences of the COVID-19. The interim reporting for Q1 2020 will be announced on April 29, 2020, as planned, where we will give further updates on the impact of COVID-19 on our businesses.Quotes from executive management Gitte Aabo, CEO of GN Hearing, comments: “The year initially was off to a good start, but recent developments related to the COVID-19 pose challenges on demand as people are restricted to stay at home, which significantly impacted our Q1 performance, and we now expect Q2 to be even more severely impacted by COVID-19. On this background, we have accelerated the launch of ReSound Assist Live, which yesterday was made available in key markets. This technology enables a new, groundbreaking way to access hearing care by reducing the need for in-office visits at a time when older, more vulnerable populations are advised to stay at home.” René Svendsen-Tune, CEO of GN Audio, comments: “GN Audio has experienced strong demand in the second half of Q1 2020 as companies prepare for employees working from home. At the same time, the production output has gradually recovered. GN Audio expects the current high demand to continue into Q2 2020, as companies establish new ways of working. Beyond this current exceptional demand, the global uncertainties allow GN Audio very limited visibility beyond Q2 on both the supply and demand side.” Marcus Desimoni, CFO of GN Store Nord, comments: “We face the current adverse market conditions with a very sound balance sheet and ample sources of liquidity. As such, we have a solid foundation to face the financial challenges ahead of us.”For further information, please contact:Investors and analysts Morten P. Toft Vice President – Investor Relations & Treasury Tel: +45 45 75 46 07OrRune 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 20About GN GroupThe GN Group is a global leader in intelligent audio solutions that let you hear more, do more and be more than you ever thought possible. Our ambitious 150-year journey has taken us from telegraph cables to radio waves and intelligent audio engineering. To celebrate our anniversary, we look to our unique competences within medical, professional and consumer audio solutions to help us continue to transform lives through the power of sound.   GN was founded with a truly innovative and global mindset. Today, we honor that legacy with world-leading expertise in the human ear, sound, wireless technology, miniaturization and collaborations with leading technology partners. GN's solutions are marketed by the brands ReSound, Beltone, Interton, Jabra and BlueParrott in 100 countries. Founded in 1869, the GN Group employs 6,000 people and is listed on Nasdaq Copenhagen (GN.CO).Visit our homepage GN.com, get to know our innovation and leadership, and connect with us on LinkedIn, Facebook and Twitter.Attachment * Announcement no 24 - Prelim Q1 2020 revenue and updates 2020 guidance due to COVID-19

  • EQS Group

    DGAP-DD: GN Store Nord A/S english

    GN Store Nord A/S: Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them: Trading in GN Store Nord shares by board members, executives and associated persons 24.03.2020 / 16:27 The issuer is solely responsible for the content of this announcement. GN Store Nord A/S has received notification pursuant to article 19 of regulation (EU) no. 596/2014 of the below transactions related to shares in GN Store Nord A/S made by persons discharging managerial responsibilities in GN Store Nord A/S and/or persons closely related with them. 1 Details of the person discharging managerial responsibilities/person closely associated a) Name Ronica Wang 2 Reason for the notification a) Position/status Member of the board of directors b) Initial notification/Amendment Initial notification 3 Details of the issuer a) Name GN Store Nord A/S b) LEI 5493008U3H3W0NKPFL10 4 Details of the transaction(s) a) Description of the financial instrument, type of instrument Identification code Shares DK0010272632 b) Nature of the transaction Purchase of shares c) Price(s) and volume(s) Price(s) DKK 248.0 per share Volume(s) 1,000 shares d) Aggregated information \- Aggregated volume \- Price NA e) Date of the transaction 2020-03-24 f) Place of the transaction Nasdaq Copenhagen 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 Lars Otto Andersen-Lange Head of Media Relations & Corporate Public Affairs Tel: +45 45 75 02 55 About GN Group The GN Group is a global leader in intelligent audio solutions that let you hear more, do more and be more than you ever thought possible. Our ambitious 150-year journey has taken us from telegraph cables to radio waves and intelligent audio engineering. To celebrate our anniversary, we look to our unique competences within medical, professional and consumer audio solutions to help us continue to transform lives through the power of sound. GN was founded with a truly innovative and global mindset. Today, we honor that legacy with world-leading expertise in the human ear, sound, wireless technology, miniaturization and collaborations with leading technology partners. GN's solutions are marketed by the brands ReSound, Beltone, Interton, Jabra and BlueParrott in 100 countries. Founded in 1869, the GN Group employs 6,000 people and is listed on Nasdaq Copenhagen (GN.CO). Visit our homepage GN.com, get to know our innovation and leadership, and connect with us on LinkedIn, Facebook and Twitter. * * *24.03.2020 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de * * * Language: English Company: GN Store Nord A/S Lautrupbjerg 7 2750 Ballerup Denmark Internet: www.gn.com End of News DGAP News Service

  • Globe Newswire

    Transactions in relation to share buyback program

    Acting under its share buyback authorization, the GN Store Nord Board of Directors initiated a share buyback program on May 1, 2019, in accordance with article 5 of Regulation (EU) no. 596/2014 of April 16, 2014 on market abuse and Delegated Regulation (EU) no. 2016/1052 of March 8, 2016, jointly referred to as the Safe Harbor rules (company announcement no. 23 of May 1, 2019).The share buyback program was initiated in order to reduce the company’s share capital and to cover obligations under the long-term incentive program. Under the share buyback program, which runs from May 1, 2019 and will end no later than March 10, 2020, GN intends to buy back shares for an amount of up to DKK 1,000 million.On a weekly basis, GN announces the number and value of shares repurchased under the program in company announcements to Nasdaq Copenhagen.The following transactions have been made under the program in the period from September 24, 2019 to September 30, 2019: No. of sharesAverage purchase price, DKKTransaction Value, DKK September 24, 20197,290283.902,069,640 September 25, 201913,660278.633,806,023 September 26, 20198,980280.332,517,333 September 27, 201915,000281.604,224,035 September 30, 201925,524276.807,064,969 Accumulated under the program1,924,588307.51591,823,137 Following the above transactions, GN holds as treasury shares a total of 12,462,913 shares of nominally DKK 4, corresponding to a total nominal value of DKK 49,851,652 and 8.8% of the total share capital and the total voting rights in the company. Details of each transaction are included as an appendix.For further information, please contact: Investors and analysts Morten P. Toft Vice President – Investor Relations & Treasury Tel: +45 45 75 46 07OrRune Sandager Senior Manager – Investor Relations  Tel: +45 45 75 92 57 Press and the media Lars Otto Andersen-Lange Head of Media Relations & Corporate Public Affairs Tel: +45 45 75 02 55 About GN GroupThe GN Group is a global leader in intelligent audio solutions that let you hear more, do more and be more than you ever thought possible. Our ambitious 150-year journey has taken us from telegraph cables to radio waves and intelligent audio engineering. To celebrate our anniversary, we look to our unique competences within medical, professional and consumer audio solutions to help us continue to transform lives through the power of sound.   GN was founded with a truly innovative and global mindset. Today, we honor that legacy with world-leading expertise in the human ear, sound, wireless technology, miniaturization and collaborations with leading technology partners. GN's solutions are marketed by the brands ReSound, Beltone, Interton, Jabra and BlueParrott in 100 countries. Founded in 1869, the GN Group employs 6,000 people and is listed on Nasdaq Copenhagen (GN.CO).Visit our homepage GN.com, get to know our innovation and leadership, and connect with us on LinkedIn, Facebook and Twitter.Attachments * Announcement 54 - Transactions under share buyback program. * PUBLIC_SBB_GN STORE NORD

  • Globe Newswire

    GN announces changes to Executive Management

    GN Store Nord announces that Jakob Gudbrand has informed the company that he needs to resign from his position as CEO of GN Hearing for personal and family reasons.    Gitte Pugholm Aabo, currently member of the Board of Directors of GN Store Nord, takes on the role as CEO of GN Hearing.  Having joined GN Store Nord’s Board in 2018, Gitte Pugholm Aabo has solid knowledge of GN Hearing’s business. She brings extensive global leadership experience and extensive knowledge within international management, finance, IT, sales and marketing as well as deep insights into building digital communities. Most recently, Gitte served as CEO of Leo Pharma.  “I am both proud and humble to take on the job as CEO of GN Hearing. From my time on the Board, I know that the company has a strong product portfolio and a strong global organization. GN Hearing has a long and proud history of innovation and is now standing on a very strong platform,” says Gitte Pugholm Aabo. “As I said after the last investor call: GN is a fantastic place to work and I am proud of my colleagues and what they have contributed. However, for personal and family reasons I have come to the conclusion that it is right for both GN and myself that I resign. I wish GN and my colleagues all the best in their journey ahead,” says Jakob Gudbrand.“In thanking Jakob for his contribution to GN, I am delighted that Gitte Pugholm Aabo has accepted to succeed Jakob. Gitte has a proven track record of innovation, building and transforming a global business and she will be able to ensure continuation and build on the great momentum we have going in GN Hearing. Gitte has a strong mindset for customer focus, innovation and growth. With her as the CEO, GN Hearing will have a strong leader, who will further GN Hearing’s continued growth and competitiveness,” says Chairman Per Wold-Olsen.Gitte Pugholm Aabo will join GN Store Nord’s Executive Management together with René Svendsen-Tune, CEO of GN Audio and GN Store Nord, and Marcus Desimoni, CFO of GN Hearing and GN Store Nord. René Svendsen-Tune will also take on the added responsibility of overseeing and facilitating the future direction for GN’s cross-company technology and applications roadmap, including AI.“With the tremendous innovation and technology driven turnaround that René has orchestrated and delivered on for GN Audio, he will in this capacity be instrumental in taking GN’s technology agenda further into future applications and harvesting innovation synergies across GN,” says Per Wold-Olsen.These changes are effective as of today.Resume on Gitte Pugholm Aabo: Born: 1967 Nationality: Danish Education: Bachelor’s degree in Economics, HD in Business Administration, MBA at Copenhagen Business SchoolCareer: 2018 - 2019: Board member and chairman of the Audit Committee, GN Store Nord 2008 - 2019: Chief Executive Officer, LEO Pharma 2007 - 2007: Deputy Group Managing Director, LEO Pharma 2001 - 2006: Senior Vice President, Finance & IT, LEO PharmaFor further information, please contact: Investors and analysts Morten P. Toft Vice President – Investor Relations & Treasury Tel: +45 45 75 46 07OrRune 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 20OrLars Otto Andersen-Lange Head of Media Relations & Corporate Public Affairs Tel: +45 45 75 02 55 About GN GroupThe GN Group is a global leader in intelligent audio solutions that let you hear more, do more and be more than you ever thought possible. Our ambitious 150-year journey has taken us from telegraph cables to radio waves and intelligent audio engineering. To celebrate our anniversary, we look to our unique competences within medical, professional and consumer audio solutions to help us continue to transform lives through the power of sound.GN was founded with a truly innovative and global mindset. Today, we honor that legacy with world-leading expertise in the human ear, sound, wireless technology, miniaturization and collaborations with leading technology partners. GN's solutions are marketed by the brands ReSound, Beltone, Interton, Jabra and BlueParrott in 100 countries. Founded in 1869, the GN Group employs 6,000 people and is listed on Nasdaq Copenhagen (GN.CO).Visit our homepage GN.com, get to know our innovation and leadership, and connect with us on LinkedIn, Facebook and Twitter.Attachment * Announcement 51 - Change to GN Executive Management

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