Gn Store Nord A/S Adr (GNNDY) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone, and welcome to GN's conference call in relation to a Q3 report announced this morning. Participating in today's call is Group CEO Peter Karlstrammer, 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 is already 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 me start with the group highlights on slide four. In Q3, we delivered a solid quarter with 1% organic revenue growth, driven by market share gains and strong performance across our divisions. Our execution led to a healthy margin and cash flow development, allowing us to reconfirm our guidance for the year. In hearing, the roll-out to Reason Vivia is continuing progressing very well. Vivia's strong differentiation and our solid commercial execution led to broad-based market share gains and 7% organic growth. Overall, we are very pleased with the positive feedback received in our two recent launches of Vivia and Enso, and we are confident that they will successfully support our future growth ambitions. In enterprise, Q3 marked the fourth consecutive quarter of positive sell-out growth across North America and APAC, driven by market-leading innovation and strong channel execution. In Europe, we are successfully defending a market-leading position, while our top line is impacted by the ongoing market uncertainty. In total, enterprise organic revenue growth in the quarter was negative 4%, while the sell-out growth was somewhat stronger. We deliver healthy gross margins despite headwinds from the current tariff environment, thanks to the successful su...