GN has throughout the year increased its earnings power and cash flow generation, leading to an upgrade of the guidance on free cash flow excl. M&A to "DKK >1,100 million” and a confirmation of the EBITA margin guidance of "12 to 13%”. Following a somewhat softer market development than earlier anticipated for Enterprise and Gaming, GN adjusts its organic revenue growth guidance to "1% to 2%”

Financial guidance for 2024

Organic revenue growthReported EBITA marginFree cash flow excl. M&A (DKK million)UpdatedPriorConfirmedPriorUpdatedPrior1% to 2%2% to 6%12% to 13%12% to 13%>1,100>900 GN will publish the Q3 2024 Interim Report later tonight.  

For further information, please contact:

Investor Relations

Rune Sandager +45 45 75 92 57

Media Relations

Steen Frentz Laursen +45 20 65 34 20

Forward-looking statements

The forward-looking statements in this report reflect the management's current expectations of certain future events and financial results. Statements regarding the future are, naturally, subject to risks and uncertainties, which may result in considerable deviations from the outlook set forth.

Furthermore, some of these expectations are based on assumptions regarding future events, which may prove incorrect. Changes to such expectation and assumptions will not be disclosed on an ongoing basis, unless required pursuant to general disclosure obligations to which GN is subject.

Factors that may cause actual results to deviate materially from expectations include - but are not limited to - general economic developments and developments in the financial markets as well as foreign exchange rates, technological developments, changes and amendments to legislation and regulations governing GN's markets, changes in the demand for GN's products, competition, fluctuations in sub-contractor supplies, and developments in ongoing litigation (including but not limited to class action and patent infringement litigation in the United States).

For more information, please see the "Management's report" and "Risk management” sections in the Annual Report 2023. This Report should not be considered an offer to sell securities in GN.

About GN

GN brings people closer through our leading intelligent hearing, audio, video, and gaming solutions. Inspired by people and driven by innovation, we deliver technologies that enhance the senses of hearing and sight. We help people with hearing loss overcome real-life challenges, improve communication and collaboration for businesses, and provide great experiences for audio and gaming enthusiasts. GN was founded more than 150 years ago with a vision to connect the world. Today, inspired by our strong heritage, GN touches more lives than ever with our unique expertise and the broadest portfolio of products and services in our history - bringing people closer to what is important to them.

We market our solutions with the brands Jabra, ReSound, SteelSeries, Beltone, Interton, BlueParrott, Danavox, and FalCom in 100 countries. Founded in 1869, GN Group employs more than 7,000 people and is listed on Nasdaq Copenhagen (GN.CO).

Visit our homepage GN.com and connect with us on LinkedIn, Facebook and X.