GN Store Nord - Danske Bank Hearing Aid Seminar 2025
Group CEO - Peter Karlstromer
June 11, 2025
3
We have a proud history…
"The development of the world is dependent on communication"
GN founder C.F. Tietgen, 1869
1869
GN created the first telegraphic connection between China and the rest of the world
2025
Today, GN continues to facilitate communication for people worldwide, touching more lives than ever
4
…with more than 155 years of innovation and world-firsts
1869
First telegraphic connection between China and the rest of the world
1960
Europe's first mobile phone using transistors
2004 First gaming headset
2006 First mechanical gaming keyboard
First intelligent video bar for video conferencing
2021
2022
Hearing aids with 150% improvement in speech understanding in noise
1963
Smallest (all transistors) handheld telephone
2010
First 2.4 GHz hearing aid technology
2023
First hearing aid supporting
Bluetooth® Low Energy Audio
1991
1992
First ultra-noise-cancelling
headphone
First hearing aid with digital sound processing
2014
2016
First Made for iPhone hearing aid
First wireless earbuds with built-in heart rate monitor
New benchmark for gaming
2024
earbuds
2024
First hearing aid to connect with Auracast broadcast devices
business use
2000 First mobile Bluetooth® headset 2018 First true wireless earbuds for
2025
First 180° Android-powered video bar designed for small rooms
and receiver-in-ear
2003 First open-ear hearing aid 2020 First hearing aid with microphone
2025 Smallest AI powered hearing aid
5
Our journey to becoming a truly customer-centric innovator at scale
Hearing and Audio company
One-GN
Customer-centric innovator at scale
2019 2023 2028
6
Ambition to win across multiple attractive markets while driving margin expansion
•
•
Revenue2: DKK 7.1bn
Gross margin2: 63%
Hearing
(~40% of group revenue)
Primary focus of today
DKK 17.4bn revenue in 20241
Enterprise
(~40% of group revenue)
Gaming
(~20% of group revenue)
Revenue2: DKK 7.5bn
Gross margin2: 56%
Revenue12: DKK 2.8bn
Gross margin2: 28%
Shared capabilities: Operations, R&D, Finance, People & Culture, Strategy, Digital, Data & IT
12% EBITA margin in 2024
7 Note 1: Excluding DKK 597 million in revenue related to wind-down of Elite and Talk product lines; Note 2: 2024 as reported
Megatrends support resilient and stable hearing market
Global megatrends
Improved access
Consumerization of healthcare
Reduced stigma
Health beyond hearing
Active seniors
Aging populations
Global wholesale hearing aids market
(DKKbn excl. OTC)
CAGR: 3-5%
~4%
'14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24E … … … '28E
4-6% volume growth expected with a slightly negative ASP development
Technology launches with advanced features support ASP development, while channel and market mix lower expectations
8
Break-through growth
by empowering our partners
LEAD CUSTOMER-CENTRIC INNOVATIONS
Grow our edge within Organic Hearing to support customer-centric innovation
Deliver consistently through our Heartbeat launch rhythm
BE THE TRUSTED PARTNER
Go beyond with value-adding services
& integration offerings to our partners
Build partnerships and alliances to accelerate scale effect & impact
Daring to set
HEARING
free
Our vision is to enable everyone
to find a hearing solution that fits their lifestyle …
to listen to our strategic partners and end users
to challenge thinking of the status quo
to transform with an evolving industry
…bringing them closer to one another and what matters most to them
Evolve our business to a partner ecosystem
MODERNIZE FOR EFFECTIVENESS & EFFICIENCY
Deliver predictive metrics & quality in everything we do for everyone we serve
Live on a dynamic digital backbone to propel our & our partners growth
Localize, simplify & automate operations, leveraging One GN scale
COMMITMENT: BETTER FOR PEOPLE AND PLANET
Be Diversity, Equity and Inclusion leaders
Drive Industry Sustainability Standards
9
9
Break-through growth
by empowering our partners
LEAD CUSTOMER-CENTRIC INNOVATIONS
Grow our edge within Organic Hearing to support customer-centric innovation
10
Deliver consistently through our Heartbeat launch rhythm
Evolve our business
to a partner ecosystem
Daring
MODERNIZE FOR
to set EFFECTIVENESS & EFFICIENCYHEARING • Deliver predictive metrics & quality in everything we do for everyone we serve
free • Live on a dynamic digital backbone to
propel our & our partners growth
• Localize, simplify & automate operations, leveraging One GN scale
Our vision is to enable everyone
to find a hearing solution that fits their lifestyle …
• to listen to our strategic partners and end users
BE THE TRUSTED • to challenge thinking of the status quo COMMITMENT: BETTER FOR PARTNER • to transform with an evolving industry PEOPLE AND PLANET
• Go beyond with value-adding services …bringing them closer to one • Be Diversity, Equity and Inclusion & integration offerings to our partners another and what matters most to them leaders
• Build partnerships and alliances to • Drive Industry Sustainability Standards
accelerate scale effect & impact
10
ReSound
Vivia
Sound is more vivid than ever with Intelligence Augmented - a human approach to AIWorld's best for hearing in noise
1
Spotlight speech, eliminate distraction without cutting the user off from the world using dedicated DNN chip, developed on decades of shared AI research and development across the Group
2
World's smallest hearing aid
All-day wearing comfort in an all-weatherproof
design
3
All-day battery - without compromise
24hours of use - even with streaming or AI
4
Made for Bluetooth LE Audio and Auracast
Clearest Bluetooth experience ever and world's first Auracast Assistant enabling Auracast for All
11
12
Review highlights
"
It's not just about amplifying sound, it's about amplifying the
right sound. And that's a huge shift.
""
For business leaders, this is a blueprint for AI-driven consumer tech - products that do not just react but continuously learn and adapt to users in a highly personalized way.
" "
ol.
"ReSound Vivia is not an incremental change. The Intelligent Focus mode is an actual tool that you do not have access to inside of Nexia, and it's a pretty impressive and powerful to
13
Collaboration with the Sydney Opera House to transform the listening experience for people with hearing loss using Auracast
14
The Vivia launch is progressing as planned
Vivia launch pr. country1
Launch plan
February
Commercial
March
April
Costco
May
Global Partner Sales1
Costco VA
June
Launch complete
15 Note 1) Roll out still in progress in certain Global Partner Sales countries
BE THE TRUSTED PARTNER
Go beyond with value-adding services
& integration offerings to our partners
16
Build partnerships and alliances to accelerate scale effect & impact
Break-through growth Evolve our business
by empowering our partners to a partner ecosystem
Daring
LEAD CUSTOMER-CENTRIC MODERNIZE FOR
INNOVATIONS to set EFFECTIVENESS & EFFICIENCY
• Grow our edge within Organic Hearing HEARING • Deliver predictive metrics & quality in
to support customer-centric innovation everything we do for everyone we serve
• Deliver consistently through our free • Live on a dynamic digital backbone to Heartbeat launch rhythm propel our & our partners growth
• Localize, simplify & automate operations, leveraging One GN scale
Our vision is to enable everyone
to find a hearing solution that fits their lifestyle …
• to listen to our strategic partners and end users
• to challenge thinking of the status quo COMMITMENT: BETTER FOR
• to transform with an evolving industry PEOPLE AND PLANET
…bringing them closer to one • Be Diversity, Equity and Inclusion
another and what matters most to them leaders
• Drive Industry Sustainability Standards
16
Being the trusted partner
Without the right support, it does not matter how good our hearing aids are.
That is why we want to build trusted and preferred partnerships to grow together.
Develop me & my business
Ease of doing business
Design, Innovation & cutting-edge technology
High quality products and solutions
Trusted partner
17 Source: Epinion; Jan. 2018; HCP interviews across US, UK & Benelux conducted by GN - January 2022; GN global qualitative & quantitative study (n = 1,120 end-users)
We focus on value-adding services and nurturing partnership and alliances
LISTEN TO THIS
Government of
South Korea
Government of China
18
Engagement Programs
Retail Partners
Partner Ecosystems
Above Brand Partnerships
OTC Mass Merchant Partners
Partner Network
Smart Hearing Alliance
Cochlear and GN expanding R&D partnership to deliver cutting-edge integrated hearing solutions
The expanded partnerships with Cochlear aims to…
Strengthen R&D collaboration to deliver cutting-edge integrated hearing solutions for users of cochlear implant and hearing aids
Focus on joint technology sharing to create innovative solutions using AI and Deep Neural Networks, improving connectivity between hearing - and consumer devices
R&D partners since 2015
Support clinicians in delivering exceptional hearing experiences through advanced technology and integrated solutions
Enhance both companies' global market presence in the clinical
hearing care market
Elevate user experience by Introducing bimodal control in the Nucleus® Smart App for easy management of hearing devices, improving everyday hearing experiences for users
Evolve our business to a partner ecosystem
MODERNIZE FOR EFFECTIVENESS & EFFICIENCY
Deliver predictive metrics & quality in everything we do for everyone we serve
Live on a dynamic digital backbone to propel our & our partners growth
20
Localize, simplify & automate operations, leveraging One GN scale
Break-through growth
by empowering our partners
Daring
LEAD CUSTOMER-CENTRIC
INNOVATIONS to set
• Grow our edge within Organic Hearing HEARING
to support customer-centric innovation
• Deliver consistently through our free
Heartbeat launch rhythm
Our vision is to enable everyone
to find a hearing solution that fits their lifestyle …
• to listen to our strategic partners and end users
BE THE TRUSTED • to challenge thinking of the status quo COMMITMENT: BETTER FOR PARTNER • to transform with an evolving industry PEOPLE AND PLANET
• Go beyond with value-adding services …bringing them closer to one • Be Diversity, Equity and Inclusion & integration offerings to our partners another and what matters most to them leaders
• Build partnerships and alliances to • Drive Industry Sustainability Standards
accelerate scale effect & impact
20
Driving more and more synergies across R&D
Sound
processing
AI
capabilities
AI
Connectivity
Battery management
SW
development
R&D synergies
Partner
co-innovation
Resource allocation
Partner
integration
Cyber security
Regulations
Sustainability
infrastructure
BT LE
Sensor
technology
Manufacturing
Development
processes
Certifications
SW
infrastructure
21
Global operations with a diversified supply chain since 2014
Hearing dedicated manufacturing sites Driving group benefits
Simplified supplier network Greater manufacturing scale
to drive cost savings across GN
Improved resilience for unforeseen events
Increased flexibility to enable better market responsiveness
DK: Chipset manufacturing
CN: Mass assembly
MY: Mass assembly
ANZ: Distribution, repair & ITE production center
BR: Distribution, repair & ITE production center
ES: Distribution & ITE production center
JP: Distribution, repair & ITE production center
KR: Distribution & ITE production center
US: Distribution, repair & ITE production center
Group alignment on
distribution and warehousing
22
Break-through growth
by empowering our partners
Daring
LEAD CUSTOMER-CENTRIC
INNOVATIONS to set
• Grow our edge within Organic Hearing HEARING
to support customer-centric innovation
• Deliver consistently through our free
Heartbeat launch rhythm
Our vision is to enable everyone
to find a hearing solution that fits their lifestyle …
• to listen to our strategic partners and end users
BE THE TRUSTED • to challenge thinking of the status quo
PARTNER • to transform with an evolving industry
• Go beyond with value-adding services …bringing them closer to one
& integration offerings to our partners another and what matters most to them
• Build partnerships and alliances to accelerate scale effect & impact
23
Evolve our business to a partner ecosystem
MODERNIZE FOR EFFECTIVENESS & EFFICIENCY
Deliver predictive metrics & quality in everything we do for everyone we serve
Live on a dynamic digital backbone to propel our & our partners growth
Localize, simplify & automate operations, leveraging One GN scale
COMMITMENT: BETTER FOR PEOPLE AND PLANET
Be Diversity, Equity and Inclusion leaders
23
Drive Industry Sustainability Standards
Select 2024 ESG highlights
On track to achieve our 2030 Scope 1+2 target
2030 Scope 3 target achieved
9,831
Scope 1 & 2 emissions (tCO2eq)
257,090 261,755
34,901
349,006
Scope 3 emissions (tCO2eq)
4,183
1,966
520
2021 2024 2030 (Target) 2050 (Net Zero Target)
2021 2024 2030 (Target) 2050
(Net zero target)
We helped 11.2 million people with hearing loss, beating our 2025 target of 10 million
Active GN HI users (m)
9 9.1 9.4 9.8 10.5 11.2 10
Improving gender diversity
- increase of women in senior leadership positions from 17% to 26%
Share of women in Senior Leadership
33%
17%
26%
2019 2020 2021 2022 2023 2024 2025
(target)
2023 2024 June 30, 2026
(target)
24
One-GN Investment case
Attractive markets across Tech and MedTech backed by fundamental megatrends and high entry barriers
Deep expertise and proven track-record in the intersection between hardware and software delivering customer-centric innovation and value
We enhance communication between people, and create value and growth by leveraging our unique capabilities and global scale across attractive markets
"The development of the world is dependent on communication",
C.F. Tietgen, founder of GN, 1869
Focused, talented, and passionate people
Multiplying our impact and execution power by being a unique, "non-competing" and attractive global partner to technology and channel leaders across the value chain
Agile operations and global supply chain scale to
support growth and navigating possible
future disruptions
Protecting our planet by running our company in a climate-friendly and sustainable way
Asset light business model and strong margin focus leading to solid cash flows supported by group-wide synergies
25
Q&A
26
Attachments
- Original document
- Permalink
Disclaimer
GN Store Nord A/S published this content on June 12, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 12, 2025 at 08:17 UTC.
