GN shares tumble on outlook cut, Q1 sales miss

GN Store Nord A/S

01/05/2025 08:12

** Shares in GN Store Nord GN.CO are down 9%, as the Danish hearing aid and audio solutions maker on Wednesday reported Q1 sales below expectations and cut its 2025 full year guidance

** The group's quarterly revenue of 3.99 billion Danish crowns ($603.3 million) missed 4.27 billion crowns expected on average by analysts

** The company has also downgraded its full-year guidance to organic growth of -3% to +3% excluding wind-down (from previously announced -1% to +4%) and EBITA margin guidance to 11% to 13% (from previously announced 12% to 14%), due to the direct and indirect impacts from the tariffs environment

** "Given end-market weakness, we could see a further slowdown from here depending on how corporates react to the tariff situation and a deteriorating economic outlook," notes J.P.Morgan

** "Though the market will clearly focus on the guidance cut, it's worth highlighting that management is taking bold steps to limit tariffs impact," points Jefferies

** Including today's fall, the stock has dropped by 31.36% YTD

($1 = 6.6074 Danish crowns)

(Reporting by Agnieszka Gosciak-Rabalska)

((Agnieszka.gosciak@thomsonreuters.com))