Brief: GN Store Nord Narrows Down Guidance

GN Store Nord A/S

11/06/2024 10:33

June 11 (Reuters) - GN Store Nord A/S  GN.CO :
    * REG-GN TO GRADUALLY WIND-DOWN ITS ELITE AND TALK PRODUCT
LINES.
STRONG PERFORMANCE IN THE HEARING DIVISION TO PARTLY OFF-SET THE
EXTRAORDINARY IMPACT FROM THE GRADUAL WIND-DOWN
    * GN IS STRIVING TO BUILD LEADING BUSINESSES IN ATTRACTIVE
MARKETS
AND BY THIS GROW WITH HEALTHY MARGINS AND ENSURE GOOD RETURNS ON
INVESTED CAPITAL
    * WILL REDUCE INVENTORY OF AFFECTED PRODUCTS, OF WHICH MOST
IS
EXPECTED TO BE COMPLETED BY END OF 2024
    * 2024 REVENUE IN CONSUMER BUSINESS IS ASSUMED TO BE
IMPACTED BY
AROUND DKK -450 MILLION COMPARED TO 2023
    * HEARING DIVISION IS ASSUMED TO PARTLY OFF-SET NEGATIVE
IMPACT
FROM GRADUAL WIND-DOWN
    * AS A RESULT OF STRONG PERFORMANCE IN HEARING DIVISION AND
GRADUAL WIND-DOWN, GROUP ORGANIC REVENUE GROWTH GUIDANCE IS
NARROWED FROM "2% TO 8%" TO NOW "2% TO 6%
    * IS NARROWING EBITA MARGIN GUIDANCE FROM "12% TO 14%" TO
NOW "12%
TO 13%".
    * GROUP WILL INCUR EXTRAORDINARY COSTS OF AROUND DKK -200
MILLION
IN REMAINDER OF 2024 ( MAJORITY IS EXPECTED IN Q2 2024)
    * NOW EXPECTS FREE CASH FLOW EXCLUDING. M&A OF "MORE THAN
DKK 900
MILLION" FOR 2024 COMPARED TO "MORE THAN DKK 700 MILLION"
EARLIER

Source text for Eikon:  ID:nGNEbc2KlM 
Further company coverage:  GN.CO 

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