Slide 1: Interim Management Statement for Q3 2024
Interim Management Statement for Q3 2024 5 November 2024 Søren Nielsen, President & CEO René Schneider, CFO Investor Relations 1
Slide 2: Agenda
Agenda 1 Key events and financial take-aways 2 Business area review 3 Outlook for 2024 4 Q&A 2
Slide 3: Key events in Q3 2024
Key events in Q3 2024 Very strong performance in Hearing Care, with organic growth significantly 1 outgrowing the market Slightly negative growth in Hearing Aids partly due to strong comparative figures but also reflecting an increased competitive environment in a soft 2 hearing aid market as well a
Slide 4: Key financial take-aways for Q3 2024
Key financial take-aways for Q3 2024 Group organic growth of 2%, driven entirely by very strong 2% performance in Hearing Care Revenue Growth Business area Group gross margin developed in line with expectations and was (DKK million) Q3 24 Q3 23 Org. Acq. LCY FX Rep. flat when compared to the same pe
Slide 5: Business area review
Business area review 5
Slide 6: The hearing aid market in Q3
The hearing aid market in Q3 Unit growth in Q3 2024 vs. Q3 2023 2024 • We estimate that overall unit growth was 3%, slightly below the Unit growth1 Q1 Q2 Q3 YTD low end of the normal 4-6% range Europe 1% 8% 1% 3% • Growth was primarily driven by commercial markets whereas North America 10% 6% 4% 6%
Slide 7: Hearing Aids in Q3
Hearing Aids in Q3 Growth slightly below expectations in a soft hearing aid market Comments Revenue and growth • Organic growth of -1% in sales to external customers, slightly Revenue Growth below expectations in a soft hearing aid market and despite a strong comparison base (DKK million) Q3 24 Q3 2
Slide 8: Hearing Care in Q3
Hearing Care in Q3 Very strong performance, significantly outgrowing the market Comments Revenue and growth • Very strong growth, with a number of Hearing Care markets Revenue Growth performing very well (DKK million) Q3 24 Q3 23 Org. Acq. LCY FX Rep. • Continued contribution from acquisitions, prim
Slide 9: Diagnostics in Q3
Diagnostics in Q3 Growth lower than original expectations driven by negative market developments Comments Revenue and growth • A soft market for diagnostic instruments, particularly in China Revenue Growth due to Made in China initiatives, led to negative market growth, although we estimate that we
Slide 10: Outlook for 2024
Demant Outlook for 2024 Ee
Slide 11: Outlook assumptions
Outlook assumptions Key outlook assumptions below1 Market Discontinued operations • Following lower-than-assumed market growth in the first • We expect the total loss after tax related to discontinued nine months of the year, we expect the unit growth rate operations to be around DKK 550 million: fo
Slide 12: Outlook for 2024
Outlook for 2024 The outlook for 2024 is unchanged and summarised below Metric Outlook Organic growth 2-4% EBIT before special DKK 4,300-4,600 million items Share buy-backs Around DKK 2,300 million For modelling purposes, we provide further assumptions for 2024 below, which are updated as at 4 Novem
Slide 13: Q&A
Q&A 13
Slide 14: IR contacts
IR contacts Roadshows and conferences: Peter Pudselykke 06 Nov London (DNB Bank, virtual) Head of Investor Relations 06 Nov Copenhagen (Danske Bank) Email: pepu@demant.com 12 Nov London (UBS European Conference) Tel: +45 3917 7300 19 Nov London (ABG Nordic Opportunities Seminar) Mob: +45 2830 7638 2