Gn Store Nord A/S Adr (GNNDY) Q2 2026 Earnings Call

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WEBVTT 00:00:00.251 -- 00:00:04.774 Hello everyone and welcome to GN's conference call in relation to a Q2 report announced 00:00:04.774 -- 00:00:09.538 yesterday evening. Participating in today's call is Group CEO Peter Karlstromer, Group 00:00:09.538 -- 00:00:13.461 CFO Soren Jelert and myself, Rune Sandager, Head of Investor Relations. 00:00:13.461 -- 00:00:16.983 The presentation is expected to last around 20 minutes, after which we'll turn to the 00:00:16.983 -- 00:00:21.086 Q&A session. The presentation is already uploaded on GN.com. 00:00:21.086 -- 00:00:25.450 And with that, I'm happy to hand over to Peter for some opening remarks. 00:00:25.450 -- 00:00:29.417 Thank you, Rune, and thank you all for joining us today. 00:00:29.417 -- 00:00:32.841 Before going into the business performance during the quarter, I would like to spend 00:00:32.841 -- 00:00:37.586 a few minutes on the development around the hearing transaction and the hearing business. 00:00:37.586 -- 00:00:42.351 To remind everyone, we took the decision in March to sell our hearing business to Amplifon 00:00:42.351 -- 00:00:47.797 to create a global lead on hearing care. The carve-out process is well underway and closing 00:00:47.797 -- 00:00:52.602 of the sale to Amplifon remains expected towards the end of this year. 00:00:52.602 -- 00:00:57.166 Let me also remind you about a few items that we shared in connection with our Q1 report 00:00:57.166 -- 00:01:02.190 in May. The proceeds of the transaction are 12.6 billion Danish 00:01:02.190 -- 00:01:06.554 kronor in cash and 56 million Amplifon shares. 00:01:06.554 -- 00:01:11.138 As part of the process, we will make a carve-out of our continuing activities, which 00:01:11.138 -- 00:01:16.363 will be taxable. We estimate this upfront tax payment to be...