Copenhagen, 2013-07-29 08:31 CEST (GLOBE NEWSWIRE) -- GN ReSound’s persistent innovation and leading technological position continue to drive revenue growth and market share gains. As a consequence, GN ReSound increases the financial guidance for 2013. The organic revenue growth guidance is upgraded from previously “4 – 6%” to “more than 7%”. The EBITA guidance is increased from previously “DKK 775 – 825 million” to “more than DKK 825 million”, corresponding to “around 20% EBITA margin” in line with the target previously communicated.
The continued positive top line growth derived from the leading technological position is highly encouraging. The development warrants exploration of potential upsides, and it has been decided to reinvest some of the additional profits from the higher revenue in driving future revenue growth. Today’s strong sales momentum is a testimony to the uniqueness of GN ReSound’s products including key features such as the breakthrough Binaural FusionTM, Surround Sound by ReSoundTM and the wireless 2.4 GHz technology, which are all thoroughly appreciated by hearing aid users and dispensers globally.
The upgraded guidance is also based on the fact that GN ReSound is expanding its partnership with US based Costco, both in the US and to further develop their business globally.
| Guidance 2013 (assumes exchange rates as of July 29, 2013 (DKK/USD ?560) prevail throughout the remainder of 2013) | ||||
| DKK million | Organic revenue growth | Organic revenue growth | EBITA excl. SMART costs* | EBITA excl. SMART costs* |
| Previously | Updated | Previously | Updated | |
| GN ReSound | 4 - 6% | More than 7% | 775 - 825 | More than 825 |
| GN Netcom | 17 - 20% | 17 - 20% | 450 - 500 | 450 - 500 |
| Other | (35) - (45) | (35) - (45) | ||
| GN Store Nord | 9 - 12% | More than 11% | 1,190 - 1,280 | More than 1,230 |
*) Non-recurring SMART restructuring costs in GN ReSound of “around DKK 100 million”
For further information please contact:
Michael Bjergby
Director – IR, Communications, CSR & Treasury
GN Store Nord A/S
Tel: +45 45 75 02 92
