Gn Store Nord A/s · OMXCOP:GN
Gn Store Nord A/s — Q3 2025 Earnings Presentation
21 slides from Gn Store Nord A/s's earnings presentation, Nov 6, 2025
Slide 1: GN Interim Report Q3 2025 Conference call presentation
GN Interim Report Q3 2025 Conference call presentation November 6, 2025
Slide 2: Safe Harbor Statement
Safe Harbor Statement The forward-looking statements in this report reflect the management's current expectations of certain future events and financial results. Statements regarding the future are, naturally, subject to risks and uncertainties, which may result in considerable deviations from the o
Slide 3: Agenda
Group highlights Agenda Divisional highlights Financial guidance 3
Slide 4: Group highlights
Group highlights Solid quarter with 1% organic revenue growth Hearing Enterprise Gaming Broad-based market share gains driven Positive sell-out growth outside of Market share gains in a challenged by ReSound Vivia Europe, whereas Europe continues to be gaming equipment market leading to 3% challenge
Slide 5: Focused execution and market-leading product portfolio enabled another quarter with market share gains
Focused execution and market-leading product portfolio enabled another quarter with market share gains +1% Organic growth 11% 410m (excl. wind-down) Free cash flow excl. • 7% in Hearing EBITA margin M&A (DKK) • -4% in Enterprise • 3% in Gaming 5
Slide 6: GN Store Nord: Solid quarter with 1% organic growth, 11% EBITA margin and DKK 410 million cash flow
GN Store Nord: Solid quarter with 1% Revenue (DKKm) organic growth, 11% EBITA margin and 4,164 -2% 4,060 +1% -4% 0% 3,958 DKK 410 million cash flow • Organic revenue growth ended at 1% excluding wind-down Q3 2024 Wind-down Q3 2024 Organic FX growth M&A Q3 2025 effect (reported organic growth was -1%
Slide 7: Agenda
Group highlights Agenda Divisional highlights Financial guidance 7
Slide 8: Hearing: ReSound Vivia continued to drive market share gains, leading to 7% organic growth
Hearing: ReSound Vivia continued to drive market share gains, leading to 7% organic growth • Hearing delivered strong organic revenue growth of 7% (on DKK million Q3 2025 Q3 2024 Growth top of 10% in Q3 2024), driven by broad-based market share gains of ReSound Vivia across markets Revenue 1,747 1,7
Slide 9: Vivia continuing to drive broad-based market share gains leading to 7% organic revenue growth
Vivia continuing to drive broad-based market share gains leading to 7% organic revenue growth North America Europe Rest of World Organic revenue growth % Development supported by US Global Partner Independent Sales ReSound Vivia driving market share gains across 9
Slide 10: Enterprise: Continued positive sell-out growth outside of Europe, but market challenges in Europe persist
Enterprise: Continued positive sell-out growth outside of Europe, but market challenges in Europe persist DKK million Q3 2025 Q3 2024 Growth • Enterprise continued to deliver positive sell-out growth outside of Europe but continued to be challenged in Europe Revenue 1,624 1,740 -7% due to market unc
Slide 11: Positive sell-out outside of EMEA continues
Positive sell-out outside of EMEA continues North America EMEA APAC ~25% of revenue ~60% of revenue ~15% of revenue Sell-in Sell-out 4th consequtive quarter Improving trends 4th consequtive quarter Trends with positive sell-out observed in Germany and with positive sell-out growth U.K., while France
Slide 12: New headset platform available to selected customers towards the end of the year
New headset platform available to selected customers towards the end of the year Focus on Platform design, launching AI enabled & comfort and over next 12- future proof performance 18 months – first products late-2025 Early customer feedback is overwhelmingly positive 12
Slide 13: Gaming: Continued market share gains leading to 3% organic revenue growth in a difficult gaming equipment market
Gaming: Continued market share gains leading to 3% organic revenue growth in Gaming only Wind-down a difficult gaming equipment market DKK million Q3 2025 Q3DKK 2024million Growth Q3 2025 Q3 2024 Growth • Gaming was challenged by the tariff environment and weak consumer sentiment leading to a declin
Slide 14: Arctis Nova Elite: Taking innovation to the next level with the world's first Hi-Res Wireless Certified Gaming Headset
Arctis Nova Elite: Taking innovation to the next level with the world’s first Hi-Res Wireless Certified Gaming Headset, offering elite luxury for Gaming audiophiles Arctis Nova Elite features World’s First Hi-Res Wireless Certified Gaming 10/10 5/5 5/5 MASTERPIECE SUPERB THE ULTIMATE Headset HEADSET
Slide 15: Agenda
Group highlights Agenda Divisional highlights Financial guidance 15
Slide 16: 2025 financial guidance is confirmed
2025 financial guidance is confirmed Organic revenue growth EBITA margin FCF excl. M&A (DKKm) excl. wind-down1) GN Store Nord -2% to +2% 11-13% ~800 Note 1: The negative impact from the wind-down on group organic revenue growth in 2025 will be around 3 percentage points. The group financial guidance
Slide 17: Q&A
Q&A www.gn.com E-mail: investor@gn.com Rune Sandager, Head of Investor Relations, Tel.: +45 4575 9257 17
Slide 18: Appendix
Appendix "s GN
Slide 19: GN Store Nord – five-year performance
GN Store Nord – five-year performance DKK million 2020 2021 2022 2023 2024 GN Store Nord Revenue 13,449 15,775 18,687 18,120 17,985 Organic growth 9% 20% -3% -1% 1% Gross margin 54.3% 55.0% 48.9% 49.4% 53.2% EBITA 1,866 2,619 1,560 1,200 2,153 EBITA margin 13.9% 16.6% 8.3% 6.6% 12.0% Operating profi
Slide 20: Maturity profile Q3 2025
Maturity profile Q3 2025 DKKm 3,720 6,969 1,816 160 722 457 112 112 112 112 -767 Q3 2025 Q4 2025 2026 2027 2028 2029 2036 2037 Cash at hand Commercial paper, MM Loan and Overdraft EMTN bond Undrawn RCF Drawn Term Loan R&D Loan HQ Financing Note: Short term commercial papers, money market (“MM”) loan
Slide 21: GN Store Nord share overview
GN Store Nord share overview Share price development • GN has a share capital of DKK 603,650,860, which is consisting of 130 150,912,715 shares, each carrying four votes. GN has one share class, 110 and there are no restrictions on ownership or voting rights 90 70 • GN is, among other indices, inclu