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GN STORE NORD A/S NAM.DK1 (GNN.BE)

Berlin - Berlin Delayed Price. Currency in EUR
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73.36+0.22 (+0.30%)
As of 8:06AM CEST. Market open.
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Previous Close73.14
Open73.36
Bid71.78 x 0
Ask71.82 x 0
Day's Range73.36 - 73.36
52 Week Range43.06 - 76.20
Volume13
Avg. Volume2
Market CapN/A
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Initiation of new share buyback program
    GlobeNewswire

    Initiation of new share buyback program

    Based on the continued solid business performance and GN’s capital structure policy, and in accordance with the authorization granted to the Board of Directors at the annual general meeting on March 17, 2021, GN intends to buy back shares worth DKK 2,500 million. GN’s new share buyback program of up to a total value of DKK 2,400 million will be initiated today and concluded no later than March 8, 2022. In addition, GN intends to purchase DKK 100 million worth of shares from GN Store Nord Fondet under a bilateral agreement. The purpose of the share buyback program is to reduce the company’s share capital and to cover obligations under the long-term incentive program. At the initiation of the share buyback program, GN holds 8,299,342 treasury shares, corresponding to 6% of the total share capital. The share buyback program is being implemented in accordance with article 5 of regulation (EU) no. 596/2014 of April 16, 2014 on market abuse, also referred to as the Market Abuse Regulation, and the delegated regulation (EU) no. 2016/1052 of March 8, 2016, also referred to as the Safe Harbor rules. GN has appointed Nordea Danmark, Filial af Nordea Bank Abp, Finland as lead manager of the program. Nordea will, under a separate agreement with GN, buy back shares within the timeframe set out in this announcement and make trading decisions in respect of GN shares independently of and without influence from GN. The share buyback program will be subject to the following terms: The maximum amount allocated to the share buyback program is limited to a total value of DKK 2,400 million. As an example, at a price of e.g. DKK 550 per share, the maximum number of shares that may be repurchased under the program is 4.4 million, which is equivalent to approximately 3% of GN’s share capital. The company's holding of treasury shares, including previously acquired shares, may at no time exceed 15% of the share capital of the company.Shares will not be purchased at a price higher than the higher of the following: the price of the last independent trade and the highest existing independent buyer's offer on the marketplace where the purchase takes place.The maximum number of shares that can be bought back in one single trading day is 76,618 corresponding to 25% of the average daily trading volume of the GN share in April 2021. Once a week, GN will announce the number and value of repurchased shares in company announcements through Nasdaq Copenhagen. GN may at any time end the share buyback program; any such termination will be announced through Nasdaq Copenhagen. As mentioned in the Annual Report 2021, page 44, GN Store Nord Fondet is working on restructuring and diversifying its asset portfolio, including a sale of the majority of its holding of GN Store Nord shares. In that connection, in addition to the DKK 2,400 million share buyback program, GN Store Nord is contemplating entering into an agreement with GN Store Nord Fondet for the purchase of 190,560 shares in GN Store Nord currently held by GN Store Nord Fondet. The price of such shares will be calculated as the volume weighted average market price of the GN Store Nord shares in the five trading days leading up to the share trade, which is intended to take place as soon as possible following today’s date, subject to agreement. For further information, please contact: Investors and analystsHenriette WennickeVice President – Investor Relations & TreasuryTel: +45 45 75 03 33 or Rune SandagerDirector – Investor Relations & Treasury Tel: +45 45 75 92 57 Press and the media Lars Otto Andersen-Lange Head of Media Relations & Corporate Public Affairs Tel: +45 45 75 02 55 About GN Group The GN Group enables people to Hear More, Do More and Be More through its intelligent hearing, audio and video collaboration solutions. Inspired by people and driven by our innovation leadership, we leverage technological synergies to deliver unique and increasingly individualized user experiences in our products and solutions. 150 years ago, GN was founded with a truly innovative and global mindset. Today, we honor that legacy with world-leading expertise in the human ear, sound and video processing, wireless technology, miniaturization and collaborations with leading technology partners. GN's solutions are marketed by the brands ReSound, Beltone, Interton, Jabra, BlueParrott and FalCom in 100 countries. Founded in 1869, the GN Group employs 6,500 people and is listed on Nasdaq Copenhagen (GN.CO). Visit our homepage GN.com - and connect with us on LinkedIn, Facebook and Twitter. Attachment Announcement 14 - Initiation of new share buyback program

  • Interim Report Q1 2021: GN Store Nord +46% organic revenue growth, GN Audio +82%, GN Hearing +1%. New share buyback of DKK 2.5 billion initiated
    GlobeNewswire

    Interim Report Q1 2021: GN Store Nord +46% organic revenue growth, GN Audio +82%, GN Hearing +1%. New share buyback of DKK 2.5 billion initiated

    - - GN Store Nord GN delivered strong 46% organic revenue growth in Q1 2021EBITA reached DKK 753 million corresponding to an EBITA margin of 18.3% compared to 10.1% in Q1 2020, reflecting strong execution across the companyFree cash flow excl. M&A was DKK -22 million in Q1 2021, reflecting the strong earnings but offset by traditional seasonality leading to leverage of 1.6x by the end of Q1 2021New share buyback program to be initiated today, with the intention to buy back shares worth DKK 2.5 billion until March 8, 2022The financial guidance, upgraded on April 14, 2021, is confirmed. Due to the COVID-19 situation, it must be stressed that the basic assumptions behind the guidance remain significantly more uncertain than normal - - GN Hearing GN Hearing delivered positive organic revenue growth of 1% in Q1 2021 in a market continuously impacted by the ongoing COVID-19 pandemic. Signs of market recovery towards the end of the quarter, especially in US and UKEBITA was DKK 98 million in Q1 2021 compared to DKK 55 million in Q1 2020 supported by the sustainable quarterly cost savings and prudent cost management on top of investments into R&D and IT infrastructureFree cash flow excl. M&A was DKK -204 million in Q1 2021 compared to DKK -66 million in Q1 2020, mainly driven by traditional seasonality and a negative development in net working capital - - GN Audio GN Audio continued the exceptionally strong momentum going into 2021 and delivered outstanding 82% organic revenue growth in Q1 2021, driven by strong double-digit growth in both the enterprise and the consumer segment EBITA increased by 148% to DKK 714 million in Q1 2021 corresponding to an EBITA margin of 24.8%. The EBITA margin development primarily reflects the strong topline development and phasing of OPEX Free cash flow excl. M&A was DKK 438 million in Q1 2021 compared to DKK -67 million in Q1 2020, reflecting the strong growth in revenue and EBITA GN Audio continue to work closely with suppliers of components to address immediate and future demand Quotes from executive managementGitte Aabo, CEO of GN Hearing, comments: “GN Hearing is well positioned to return to highly profitable growth, supported by the strongest and broadest product portfolio ever. As vaccines are generally becoming more available and the fact that people gradually adapt to life with various degrees of COVID-19 restrictions, we see the demand for hearing aids return towards a more normalized level.” René Svendsen-Tune, CEO of GN Audio, comments: “Q1 further accelerated GN Audio’s leadership in solutions for flexible working, and our highly scalable business model delivered exceptionally 82% growth. With our recent launch of the new Jabra PanaCast camera line-up, we are set to continue our growth agenda with a portfolio consisting of the most innovative and advanced collaboration solutions for the new normal.” Financial overview Q1 2021 GN Hearing GN Audio GN Store Nord* DKK million Q1 2021 Q1 2020 Growth Q1 2021 Q1 2020 Growth Q1 2021 Q1 2020 Growth Revenue 1,234 1,314 -6% 2,876 1,653 74% 4,110 2,967 39% Organic growth 1% -14% 82% 22% 46% 3% Gross profit 769 841 -9% 1,480 827 79% 2,249 1,668 35% Gross margin 62.3% 64.0% -1.7%p 51.5% 50.0% +1.5%p 54.7% 56.2% -1.5%p EBITA 98 55 78% 714 288 148% 753 300 151% EBITA margin 7.9% 4.2% +3.7%p 24.8% 17.4% +7.4%p 18.3% 10.1% +8.2%p Earnings per share (EPS) - DKK 3.66 0.78 369% Free cash flow excl. M&A -204 -66 -138 438 -67 505 -22 -160 138 Cash conversion -208% -120% -88%p 61% -23% +84%p -3% -53% +50%p * Including "Other" TeleconferenceGN Store Nord will host a teleconference at 11.00 a.m. CET today. Please visit www.gn.com/investor to access the teleconference. Presentation material will be available on the website prior to the start of the teleconference. For further information, please contact: Investors and analystsHenriette WennickeVice President – Investor Relations & TreasuryTel: +45 45 75 03 33 Or Rune SandagerDirector – Investor Relations & Treasury Tel: +45 45 75 92 57 Press and the media Lars Otto Andersen-Lange Head of Media Relations & Corporate Public Affairs Tel: +45 45 75 02 55 About GN Group The GN Group enables people to Hear More, Do More and Be More through its intelligent hearing, audio and video collaboration solutions. Inspired by people and driven by our innovation leadership, we leverage technological synergies to deliver unique and increasingly individualized user experiences in our products and solutions. 150 years ago, GN was founded with a truly innovative and global mindset. Today, we honor that legacy with world-leading expertise in the human ear, sound and video processing, wireless technology, miniaturization and collaborations with leading technology partners. GN's solutions are marketed by the brands ReSound, Beltone, Interton, Jabra, BlueParrott and FalCom in 100 countries. Founded in 1869, the GN Group employs 6,500 people and is listed on Nasdaq Copenhagen (GN.CO). Visit our homepage GN.com - and connect with us on LinkedIn, Facebook and Twitter. Attachments GNSN - Interim Report Q1 2021 Interim Report Q1 2021 cover note

  • Reuters

    Donerail pushes gaming headset maker Turtle Beach to explore a sale -sources

    Donerail Group, an investment firm led by former activist hedge fund Starboard Value LP executive Will Wyatt, has amassed a stake in Turtle Beach Corp and is pushing the maker of gaming headsets to explore a sale, people familiar with the matter said on Friday. The move represents a bet that Turtle Beach could attract acquisition interest from peers such as Corsair Gaming Inc and GN Store Nord A/S, as the video game market continues to benefit from people looking for entertainment options at home during the COVID-19 pandemic. There is no certainty that Turtle Beach will agree to a sale, the sources said, requesting anonymity because the matter is confidential.