Gn Store Nord A/S Adr (GNNDY) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone, and welcome to GN's conference call in relation to a Q1 report announced yesterday evening. Participating in today's call is Group CEO Peter Karlstrømmer, Group CFO Søren Jelert, and myself, Rune Sanner, head of Investor Relations. The presentation is expected to last about 20 minutes, after which we'll turn to the Q&A session. The presentation should already be uploaded on GN.com. And with that, I'm happy to hand over to Peter for some opening remarks. Thank you, Rune, and thanks to all of you for joining us today. Let's start with some highlights on the quarter. Our enterprise business experienced strong growth in the U.S. and the APAC market, while EMEA continues to experience weak demand and some level of channel inventory reductions. We started shipment of our Wall Free range at the beginning of March and we have been very encouraged by what we have seen so far. During the quarter we experienced significant growth in the premium segments of headsets. This is exciting as we will be launching further additions to the Wall Free family later this year. that will gradually support our growth in enterprise. On the margin side, we have had a soft quarter as expected due to the annualization of tariffs and inventory provisions related to warehouse movement in the U.S. and certain channel investments to support the launch and rollout of the wall-free headset platform. In gaming, we continue to gain market share in a gaming equipment market influenced by continued weak consumer sentiment. While gaming also faced some of the same modern headwinds as enterprise due to tariffs, we have managed to control it through positive ASP development coming from the price increases implemented last year as well as a continued good cost control. We have just launched an...