Financials GN Store Nord A/S

Equities

GN

DK0010272632

Household Electronics

Market Closed - Nasdaq Copenhagen Other stock markets 11:20:00 2025-06-18 EDT			5-day change	1st Jan Change
97.40 ^DKK	-0.96%		-4.93%	-27.18%

06-05	Citigroup lowers target price for GN Store Nord to DKK 110 (206), reiterates buy recommendation - BN	FW
06-04	GN STORE NORD : Ongoing choppy waters in the near term

Projected Income Statement: GN Store Nord A/S

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	13,449	15,775	18,687	18,120	17,985	17,335	18,268	19,249
Change	-	17.29%	18.46%	-3.03%	-0.75%	-3.62%	5.38%	5.37%
EBITDA ¹	2,284	3,048	2,045	1,751	2,541	2,814	3,220	3,517
Change	-	33.45%	-32.91%	-14.38%	45.12%	10.73%	14.45%	9.2%
EBIT ¹	1,627	2,397	1,111	869	1,860	1,695	2,061	2,384
Change	-	47.33%	-53.65%	-21.78%	114.04%	-8.87%	21.58%	15.69%
Interest Paid ¹	-6	-90	-405	-462	-492	-580.7	-548.6	-486.2
Earnings before Tax (EBT) ¹	1,612	2,271	725	343	1,361	934.3	1,594	1,917
Change	-	40.88%	-68.08%	-52.69%	296.79%	-31.35%	70.61%	20.27%
Net income ¹	1,252	1,756	570	266	988	844.3	1,157	1,441
Change	-	40.26%	-67.54%	-53.33%	271.43%	-14.55%	37.09%	24.52%
Announcement Date	2/11/21	2/10/22	2/9/23	2/8/24	2/6/25	-	-	-

¹DKK in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	2,659	3,739	4,084	4,110	3,778	3,787	4,100	3,859	4,857	4,701	5,270	4,214	4,394	4,443	5,069	4,303	4,499	4,164	5,019	3,986	4,069	4,002	4,758
Change	-	40.62%	9.23%	0.64%	-8.08%	0.24%	8.27%	-5.88%	25.86%	-3.21%	12.1%	-20.04%	4.27%	1.12%	14.09%	-15.11%	4.55%	-7.45%	20.53%	-20.58%	2.08%	-1.64%	18.87%
EBITDA ¹	131	910	839	858	740	717	733	134	736	621	665	282	444	538	487	639	473	649	780	395	559.4	558.9	818.1
Change	-	594.66%	-7.8%	2.26%	-13.75%	-3.11%	2.23%	-81.72%	449.25%	-15.62%	7.09%	-57.59%	57.45%	21.17%	-9.48%	31.21%	-25.98%	37.21%	20.18%	-49.36%	41.61%	-0.09%	46.37%
EBIT ¹	-28	712	692	712	584	571	530	178	436	364	438	70	231	391	177	459	284	516	601	215	324	366.3	594.3
Change	-	2,642.86%	-2.81%	2.89%	-17.98%	-2.23%	-7.18%	-66.42%	144.94%	-16.51%	20.33%	-84.02%	230%	69.26%	-54.73%	159.32%	-38.13%	81.69%	16.47%	-64.23%	50.71%	13.05%	62.24%
Charge d'intérêts ¹	49	91	-35	-99	-12	-4	34	-156	-78	-91	-82	-125	-129	-91	-117	-110	-140	-145	-147	-107	-145	-145	-145
Earnings before Tax (EBT) ¹	15	801	657	612	552	567	540	-227	325	273	354	-56	56	295	48	343	144	371	503	114	95	144	410
Change	-	5,240%	-17.98%	-6.85%	-9.8%	2.72%	-4.76%	-142.04%	243.17%	-16%	29.67%	-115.82%	200%	426.79%	-83.73%	614.58%	-58.02%	157.64%	35.58%	-77.34%	-16.67%	51.58%	184.72%
Net income ¹	8	616	527	474	427	433	422	-191	242	197	278	-54	32	213	39	254	96	271	367	71	58	96	311
Change	-	7,600%	-14.45%	-10.06%	-9.92%	1.41%	-2.54%	-145.26%	226.7%	-18.6%	41.12%	-119.42%	159.26%	565.62%	-81.69%	551.28%	-62.2%	182.29%	35.42%	-80.65%	-18.31%	65.52%	223.96%
Announcement Date	8/19/20	11/11/20	2/11/21	5/6/21	8/19/21	10/29/21	2/10/22	5/5/22	8/18/22	11/11/22	2/9/23	4/27/23	8/16/23	11/10/23	2/8/24	5/2/24	8/22/24	11/6/24	2/6/25	4/30/25	-	-	-

¹DKK in Million

Estimates

Forecast Balance Sheet: GN Store Nord A/S

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	4,198	5,358	14,561	10,567	9,699	9,058	8,233	7,533
Change	-	27.63%	171.76%	-27.43%	-8.21%	-6.61%	-9.11%	-8.5%
Announcement Date	2/11/21	2/10/22	2/9/23	2/8/24	2/6/25	-	-	-

¹DKK in Million

Estimates

Cash Flow Forecast: GN Store Nord A/S

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	1,093	1,524	1,668	1,432	1,404	1,265	1,314	1,365
Change	-	39.43%	9.45%	-14.15%	-1.96%	-9.88%	3.86%	3.86%
Free Cash Flow (FCF) ¹	1,865	702	-1,291	1,206	1,321	774.8	850.5	1,064
Change	-	-62.36%	-283.9%	193.42%	9.54%	-41.35%	9.78%	25.16%
Announcement Date	2/11/21	2/10/22	2/9/23	2/8/24	2/6/25	-	-	-

¹DKK in Million

Estimates

Forecast Financial Ratios: GN Store Nord A/S

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	16.98%	19.32%	10.94%	9.66%	14.13%	16.23%	17.63%	18.27%
EBIT Margin (%)	12.1%	15.19%	5.95%	4.8%	10.34%	9.78%	11.28%	12.39%
EBT Margin (%)	11.99%	14.4%	3.88%	1.89%	7.57%	5.39%	8.73%	9.96%
Net margin (%)	9.31%	11.13%	3.05%	1.47%	5.49%	4.87%	6.34%	7.49%
FCF margin (%)	13.87%	4.45%	-6.91%	6.66%	7.35%	4.47%	4.66%	5.53%
FCF / Net Income (%)	148.96%	39.98%	-226.49%	453.38%	133.7%	91.77%	73.48%	73.86%
Profitability
ROA	7.5%	9.75%	2.11%	0.87%	3.23%	4.15%	4.98%	5.66%
ROE	24.97%	30.79%	8.75%	3.25%	9.68%	7.98%	10.04%	11.29%
Financial Health
Leverage (Debt/EBITDA)	1.84x	1.76x	7.12x	6.03x	3.82x	3.22x	2.56x	2.14x
Debt / Free cash flow	2.25x	7.63x	-11.28x	8.76x	7.34x	11.69x	9.68x	7.08x
Capital Intensity
CAPEX / Current Assets (%)	8.13%	9.66%	8.93%	7.9%	7.81%	7.3%	7.19%	7.09%
CAPEX / EBITDA (%)	47.85%	50%	81.56%	81.78%	55.25%	44.97%	40.81%	38.81%
CAPEX / FCF (%)	58.61%	217.09%	-129.2%	118.74%	106.28%	163.31%	154.52%	128.22%
Items per share
Cash flow per share ¹	24.66	16.22	4.894	18.98	18.7	12.06	14.39	15.9
Change	-	-34.21%	-69.83%	287.81%	-1.47%	-35.49%	19.26%	10.47%
Dividend per Share ¹	1.45	1.55	-	-	-	-	0.5381	0.6819
Change	-	6.9%	-	-	-	-	-	26.73%
Book Value Per Share ¹	40.15	48.77	53.14	65.84	74.33	79.08	86.33	94.27
Change	-	21.48%	8.95%	23.91%	12.9%	6.38%	9.17%	9.19%
EPS ¹	9.63	13.49	4	1.64	6.78	4.827	7.302	9.491
Change	-	40.08%	-70.35%	-59%	313.41%	-28.8%	51.26%	29.97%
Nbr of stocks (in thousands)	128,813	127,692	127,956	145,551	145,613	145,613	145,613	145,613
Announcement Date	2/11/21	2/10/22	2/9/23	2/8/24	2/6/25	-	-	-