GN Store Nord A/S · OMXCOP:GN
GN Store Nord A/S — Q3 2005 Earnings Presentation
13 slides from GN Store Nord A/S's earnings presentation, Nov 3, 2005
Slide 1: GN Store Nord Q3 Interim Report 2005
GN Store Nord Q3 Interim Report 2005, November 3, 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 20% and EBITA margin unchanged (2004 adj. for one-off) Significant growth through Hello Direct Balance profit with growth in hearing instruments Hearing instruments revenue growth 6% and EBITA
Slide 4: GN at a Glance
GN at a Glance Q3 performance in line with expectations CC&O growth initiatives in the US pay off Mobile headsets maintains share of strong market Metrix picks up as planned Guidance reflects still more additional investments in growth R&D and Sales & Marketing spending up by up to DKK 300m
Slide 5: Profit & Loss
Profit & Loss DKK DKK millions millions 2003 2003 Q3/2004 Q3/2004 2004 2004 Q3/2005 Q3/2005 Revenue Revenue 4,742 4,742 1,457 1,457 5,548 5,548 1,845 1,845 Gross Gross profit profit 2,625 2,625 714 714 2,945 2,945 867 867 Gross Gross margin, margin, % % 55 55 49 49 53 53 47 47 EBITA EBITA 549 549 17
Slide 6: Balance Sheet
Balance Sheet DKK DKK millions millions Q3/2004 Q3/2004 2004 2004 Q3/2005 Q3/2005 Goodwill Goodwill 2,645 2,645 2,381 2,381 2,704 2,704 Other Other intangible intangible assets assets 844 844 844 844 899 899 Inventory Inventory 602 602 518 518 675 675 Trade Trade receivables receivables 1,104 1,104
Slide 7: Cash Flow
Cash Flow DKK DKK millions millions Q3/2004 Q3/2004 2004 2004 Q3/2005 Q3/2005 CFFO CFFO before before changes changes in in workign workign capital capital 244 244 1,091 1,091 321 321 CFFO CFFO 201 201 959 959 136 136 CFFI CFFI (82) (82) (273) (273) (109) (109) Free Free cash cash 119 119 686 686 27
Slide 8: Contact Center & Office Headsets
Contact Center & Office Headsets DKK DKK millions millions Q3 Q3 Q4 Q4 2003 2003 Q1 Q1 Q2 Q2 Q3 Q3 Q4 Q4 2004 2004 Q1 Q1 Q2 Q2 Q3 Q3 Revenue Revenue 308 308 334 334 1,279 1,279 325 325 337 337 314 314 340 340 1,316 1,316 342 342 373 373 380 380 Growth, Growth, % % 10 10 88 66 66 77 88 13 13 20 20 Gr
Slide 9: Mobile Headsets
Mobile Headsets DKK DKK millions millions Q3 Q3 Q4 Q4 2003 2003 Q1 Q1 Q2 Q2 Q3 Q3 Q4 Q4 2004 2004 Q1 Q1 Q2 Q2 Q3 Q3 Revenue Revenue 106 106 160 160 481 481 150 150 292 292 418 418 338 338 1,198 1,198 292 292 482 482 699 699 Growth, Growth, % % 61 61 168 168 310 310 117 117 160 160 98 98 67 67 67 67
Slide 10: Hearing Instruments
Hearing Instruments DKK DKK millions millions Q3 Q3 Q4 Q4 2003 2003 Q1 Q1 Q2 Q2 Q3 Q3 Q4 Q4 2004 2004 Q1 Q1 Q2 Q2 Q3 Q3 Revenue Revenue 648 648 706 706 2,617 2,617 662 662 667 667 643 643 698 698 2,670 2,670 641 641 690 690 688 688 Growth, Growth, % % 12 12 99 33 44 66 00 55 66 Gross Gross margin, m
Slide 11: Audiologic Diagnostics Equipment
Audiologic Diagnostics Equipment DKK DKK millions millions Q3 Q3 Q4 Q4 2003 2003 Q1 Q1 Q2 Q2 Q3 Q3 Q4 Q4 2004 2004 Q1 Q1 Q2 Q2 Q3 Q3 Revenue Revenue 76 76 106 106 351 351 90 90 83 83 78 78 97 97 348 348 80 80 84 84 72 72 Growth, Growth, % % 55 44 66 (6) (6) 22 (10) (10) 22 (8) (8) Gross Gross margin
Slide 12: Adjusted 2005 Guidance
Adjusted 2005 Guidance Total capex DKK 900m. Add. investments in growth up to DKK 300m vs. 2004 Revenue Approx. DKK 6.6bn at DKK/USD 6 EBITA DKK 850-900m EBT DKK 800-850m CC&O EBITA margin 20-22% on revenues of app. DKK 1.5bn Highest growth in US through Hello Direct Mobile EBITA margin 2-4% on reve
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 organic growth in hearing instruments Continue to improve profitability Stay ahead in the mobile race Expand Asian platform Enter gaming and music