GN Store Nord: shares spike after raising unit guidance
(CercleFinance.com) - GN Store Nord spiked more than 3% in late morning trading in Copenhagen on Friday after the Danish hearing-aid maker raised the 2020 guidance of its audio unit.
As GN Audio performed "significantly better than projected" in the first quarter, the company said it now expects the business to post an organic revenue growth of more than 35% this year, compared to more than 25% previously.
The division's EBITA margin for 2020 has also been upgraded, from more than 20% to more than 21%.
For 2020, GN Hearing said it still expects organic revenue growth to fall by at least 30%, and EBITA margin of better than 0%, the company said.
Founded in 1869, GN makes intelligent hearing, audio and video collaboration products, which it markets under the brands ReSound, Beltone, Interton, Jabra, BlueParrott and FalCom in 100 countries. It currently employs 6,500 people.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
As GN Audio performed "significantly better than projected" in the first quarter, the company said it now expects the business to post an organic revenue growth of more than 35% this year, compared to more than 25% previously.
The division's EBITA margin for 2020 has also been upgraded, from more than 20% to more than 21%.
For 2020, GN Hearing said it still expects organic revenue growth to fall by at least 30%, and EBITA margin of better than 0%, the company said.
Founded in 1869, GN makes intelligent hearing, audio and video collaboration products, which it markets under the brands ReSound, Beltone, Interton, Jabra, BlueParrott and FalCom in 100 countries. It currently employs 6,500 people.
Copyright (c) 2020 CercleFinance.com. All rights reserved.