Demant As (WILLF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and welcome to our conference call following the release of our Q3 interim management statement, which was sent out after market close yesterday evening. For today, we plan for the usual structure of the call. We'll start with the presentation and then we'll proceed with Q&A. On a practical note, the presentation we'll be showing should now be on our website for you to find, and we plan for the call to last no more than one hour in total, including the Q&A session. In the room here at our head offices, we have our president and CEO, Søren Nielsen, our CFO, René Schneider, and the IR team with Gustav Høgh and myself, Peter Puseløge. That is it for the practical stuff. Over to you, Søren, for the presentation. Thank you very much, Peter, and welcome, everybody. Well, let's go straight to it. The agenda for today is business highlights and key financial takeaways, a little bit of a color and flavor and update to each of the three business areas, outlook for 2025, and then let's quickly get to the Q&A session. Business highlight for Q3. is a performance all in the lower end of our expectations driven by hearing aids, which due to a remaining softer than normal general market and a sequential slowdown in U.S. due to mixed effects have seen a weaker ASP or you could say in the scenarios with a weaker ASP. We have, however, in the hearing aid business seen global market share gains and a good momentum in the business. So to the softer side, organic growth in the hearing aid business is purely driven by unfavorable geography mix and a still overall soft hearing aid market. Hearing care have delivered solid growth above the general market growth rate. The performance is broad-based, despite also having strong comparison figures from last year. The diagnostic bu...