GN Store Nord A/S · OMXCOP:GN
GN Store Nord A/S — Q2 2005 Earnings Presentation
13 slides from GN Store Nord A/S's earnings presentation, Aug 18, 2005
Slide 1: GN Store Nord Q2 Interim Report 2005
GN Store Nord Q2 Interim Report 2005, August 18, 2005 CEO Jørn Kildegaard and CFO Jens Due Olsen
Slide 2: Safe harbor statement
Safe harbor statement The forward-looking statements in this interim report reflect management's current expectations for certain future events and financial results. Statements regarding 2005 are, of course, subject to risks and uncertainties which may result in material deviations from the outlook
Slide 3: Following up on The GN Agenda 2005-2007
Following up on The GN Agenda 2005-2007 Grow the office headset market profitably CC&O revenue growth 13% and EBITA margin 1.1%p lower Adding Staples to US retail platform Balance profit with growth in hearing instruments Hearing Instruments revenue growth 5% and EBITA margin 2.7%p higher Re
Slide 4: GN at a glance
GN at a glance Q2 performance exceeds expectations CC&O growth initiatives in the US pay off Mobile Headsets maintains share of strong market Metrix launched mid Q2 as planned Share buyback program, terminated Shares bought 6.0m GN owns 6.2% of total number of shares New guidance reflects
Slide 5: Profit & loss
Profit & loss DKK DKK millions millions 2003 2003 Q2/2004 Q2/2004 2004 2004 Q2/2005 Q2/2005 Revenue Revenue 4,742 4,742 1,383 1,383 5,548 5,548 1,630 1,630 Gross Gross profit profit 2,625 2,625 749 749 2,945 2,945 846 846 Gross Gross margin, margin, % % 55 55 54 54 53 53 52 52 EBITA EBITA 549 549 20
Slide 6: Balance sheet
Balance sheet DKK DKK millions millions Q2/2004 Q2/2004 2004 2004 Q2/2005 Q2/2005 Goodwill Goodwill 2,741 2,741 2,381 2,381 2,689 2,689 Other Other intangible intangible assets assets 849 849 844 844 897 897 Inventory Inventory 582 582 518 518 527 527 Trade Trade receivables receivables 1,048 1,048
Slide 7: Cash flow
Cash flow DKK DKK millions millions Q2/2004 Q2/2004 2004 2004 Q2/2005 Q2/2005 CFFO CFFO before before interest, interest, restructurings restructurings and and tax tax 260 260 1,094 1,094 215 215 CFFO CFFO 230 230 959 959 206 206 Free Free cash cash flow flow 187 187 686 686 88 88 Free Free cash cas
Slide 8: Contact Center & Office Headsets
Contact Center & Office Headsets DKK DKK millions millions Q2 Q2 Q3 Q3 Q4 Q4 2003 2003 Q1 Q1 Q2 Q2 Q3 Q3 Q4 Q4 2004 2004 Q1/2005 Q1/2005 Q2/2005 Q2/2005 Revenue Revenue 320 320 308 308 334 334 1,279 1,279 325 325 337 337 314 314 340 340 1,316 1,316 342 342 373 373 Growth, Growth, % % 10 10 88 66 66
Slide 9: Mobile Headsets
Mobile Headsets DKK DKK millions millions Q2 Q2 Q3 Q3 Q4 Q4 2003 2003 Q1 Q1 Q2 Q2 Q3 Q3 Q4 Q4 2004 2004 Q1/2005 Q1/2005 Q2/2005 Q2/2005 Revenue Revenue 113 113 106 106 160 160 481 481 150 150 292 292 418 418 338 338 1,198 1,198 292 292 482 482 Growth, Growth, % % 61 61 168 168 310 310 117 117 160 16
Slide 10: Hearing Instruments
Hearing Instruments DKK DKK millions millions Q2 Q2 Q3 Q3 Q4 Q4 2003 2003 Q1 Q1 Q2 Q2 Q3 Q3 Q4 Q4 2004 2004 Q1/2005 Q1/2005 Q2/2005 Q2/2005 Revenue Revenue 628 628 648 648 706 706 2,617 2,617 662 662 667 667 643 643 698 698 2,670 2,670 641 641 690 690 Growth, Growth, % % 12 12 99 33 44 66 00 55 Gros
Slide 11: Audiologic Diagnostics Equipment
Audiologic Diagnostics Equipment DKK DKK millions millions Q2 Q2 Q3 Q3 Q4 Q4 2003 2003 Q1 Q1 Q2 Q2 Q3 Q3 Q4 Q4 2004 2004 Q1/2005 Q1/2005 Q2/2005 Q2/2005 Revenue Revenue 82 82 76 76 106 106 351 351 90 90 83 83 78 78 97 97 348 348 80 80 84 84 Growth, Growth, % % 55 44 66 (6) (6) 22 (10) (10) 22 Gross
Slide 12: Increased 2005 guidance
Increased 2005 guidance Higher revenues - stronger earnings - additional investments in growth Revenue Approx. DKK 6.5bn at DKK/USD 6 EBITA DKK 850-900m EBT DKK 800-850m CC&O EBITA margin 20-22% on revenues of approx. DKK 1.5bn New guidance Highest growth in US Mobile EBITA margin 2-4% on revenues o
Slide 13: The GN Agenda 2005-2007
The GN Agenda 2005-2007 Grow the office headset market profitably Establish position with US retailers and tech-distributors Balance profit with growth in hearing instruments Continue to improve profitability Stay ahead in the mobile race Expand Asian platform Enter gaming 13