April 29, 2020 / 5:14 AM / a month ago

BRIEF-GN Store Nord Q1 EBITA Down At DKK 300 Mln

April 29 (Reuters) - GN Store Nord A/S:

* INTERIM REPORT Q1 2020: GN DELIVERS 3% ORGANIC REVENUE GROWTH WITH EBITA OF DKK 300 MILLION

* GN IMPACTED AT THREE LEVELS FROM COVID-19, THEREFORE GUIDANCE WAS WITHDRAWN ON APRIL 3, 2020

* GN DELIVERED 3% ORGANIC REVENUE GROWTH IN Q1 2020

* REVENUE GROWTH WAS 4% INCLUDING 2% IMPACT FROM DEVELOPMENT IN FOREIGN EXCHANGE RATES

* GN HEARING SAW AN ACCELERATING IMPACT FROM COVID-19 ON SALE OF HEARING AIDS, PARTICULARLY TOWARDS END OF QUARTER

* GN HEARING DELIVERED AN ORGANIC GROWTH OF -14% IN Q1 2020

* GN AUDIO SAW VERY STRONG ENTERPRISE DEMAND FOR HOME OFFICE PRODUCTS AS ENTERPRISES OF ALL SIZES, AND ACROSS VARIOUS INDUSTRIES, PREPARED THEIR EMPLOYEES FOR WORKING FROM HOME DUE TO COVID-19

* TOWARDS END OF Q1, GN AUDIO SAW REDUCED DEMAND FOR CONSUMER HEADSETS DUE TO IMPACT FROM COVID-19

* GN AUDIO DELIVERED AN ORGANIC GROWTH OF 22% IN Q1 2020

* Q1 REVENUE DKK 2.97 BILLION VERSUS DKK 2.84 BILLION YEAR AGO

* COVID-19 SITUATION HAS AND WILL NOT ONLY IMPACT GN’S OPERATIONAL PERFORMANCE IN 2020, BUT IT WILL ALSO IMPACT PREDICTABILITY AND VISIBILITY

* Q1 EBITA DKK 300 MILLION VERSUS DKK 439 MILLION YEAR AGO Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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