Gn Store Nord A/s · OMXCOP:GN
Gn Store Nord A/s — Merger or Acquisition (October 2021)
11 slides from Gn Store Nord A/s's merger presentation, Oct 6, 2021
Slide 1: Deal announcement: GN Store Nord to acquire SteelSeries
Deal announcement: GN Store Nord to acquire SteelSeries – a global pioneer in premium gaming gear October 6, 2021
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: Hear More, Do More and Be More
new GN connects people through the power of sound and vision – letting you Hear More, Do More and Be More in life and at work than you ever thought possible
Slide 4: Ideal strategic fit between GN and SteelSeries
Ideal strategic fit between GN and SteelSeries Access to attractive and growing gaming gear market Global pioneer in premium software-enabled gaming gear known for superior quality, innovative design and strong brand Strong brands World class designs Significant scale opportunities across value chai
Slide 5: SteelSeries at a glance
SteelSeries at a glance Global pioneer in premium software-enabled gaming gear Financial development (2017 – 2020)2 (DKK in millions) • Founded in 2001 with corporate HQ in Chicago, USA and offices in Denmark, France, Taiwan and China Total revenue 2,175 Pro forma full-year impact of M&A2 • Technolo
Slide 6: GN and SteelSeries will serve the global audio market as a leading unified force
GN and SteelSeries will serve the global audio market as a leading unified force 2020 Revenue by division GN Hearing Pro forma revenue development: (DKK in billions) 13.4bn 15.6 2020 Revenue (DKK) 13.8 11.6 10.3 1.9bn GN Audio 2020 EBITA (DKK) 2017 2018 2019 2020 Revenue (2020) Revenue (2020) 2020 R
Slide 7: Large, growing and attractive gaming gear market
Large, growing and attractive gaming gear market 1 Growing addressable gaming gear market1 3 Attractive structural trends (USD in billions) • 2.8 billion gamers2 across the world, which is expected to increase with a 5% CAGR in the coming years driven by demographics and easier access to gaming CAGR
Slide 8: SteelSeries is positioned to continue outgrowing the global gaming gear market
SteelSeries is positioned to continue outgrowing the global gaming gear market Base market growth of 7-8% Positioned to capitalize on underlying growth +7-8% CAGR in core gaming gear in total global gamers market from 2020 – 2025E Further premiumization to add 2%p to base growth Premium segment expe
Slide 9: Deal summary
Deal summary • GN acquires SteelSeries from the Nordic private equity company Axcel for an enterprise value of 8.0bn DKK on a cash and debt free basis • The acquisition will be structured as 100% cash payment financed through the existing cash balance and a bridge-loan, which is Structure & valuatio
Slide 10: GN's investment case is intact
GN’s investment case is intact Focused innovation within sound and video processing in selected market segments Leading positions in attractive markets with high entry barriers Focused growth model, dedicated developer, manufacturer and distributor, refraining from vertical integration Clear strateg
Slide 11: Q&A
Q&A www.gn.com E-mail: investor@gn.com Henriette Wennicke, VP – IR & Treasury, Tel.: +45 4575 0333 Rune Sandager, Director – IR & Treasury, Tel.: +45 4575 9257 11