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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Demant
Demant (DEMANT) investor relations material
Demant Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary4 Nov, 2026
Executive summary
Q3 revenue was DKK 6,624m, up 21% reported and 11% organically; Hearing Aids led growth, with acquisitions adding 10%.
Oticon Reveal’s strong launch extended Oticon Zeal momentum and supported Hearing Aids market-share gains.
FY 2026 outlook: 7–8% organic growth and DKK 4,700–5,000m EBIT before special items.
Financial highlights
Q3 revenue increased from DKK 5,454m to DKK 6,624m; reported growth comprised 11% organic growth, 10% acquisitive growth and 1% FX.
Gross margin rose significantly YoY and exceeded expectations, supported by higher Hearing Aids ASP, KIND consolidation and a DKK 25m U.S. tariff refund.
OPEX organic growth was in line with expectations; strong organic growth drove operating leverage and improved EBIT before special items YoY.
Cash flow from operations and free cash flow were very strong; gearing declined meaningfully versus Q2 2026.
Outlook and guidance
FY 2026 guidance is 7–8% organic growth and DKK 4,700–5,000m EBIT before special items; assumptions include 9% acquisitive growth, -1% FX growth and an effective tax rate of ~23%.
Cost-effectiveness initiatives are expected to add DKK 300m to 2026 EBIT, mainly in H2; KIND is expected to contribute DKK 325m.
2026 special items are expected to total DKK 400m: DKK 150m for KIND transaction and integration costs and DKK 250m for cost-saving implementation; DKK 100m is expected in 2027.
Hearing aid market value growth is expected at 4–5% in 2026; expected FX impact on 2026 EBIT before special items is DKK -125m versus 2025.
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Latest events from Demant
- Oticon More pairs on-board deep learning with 30% more information to the brain.DEMANT
Status Update - Oticon Medical sale raises the 2022 EBIT outlook to DKK 3,600–3,900m.DEMANTInvestor Update
- Recovery lifted hearing healthcare run rates, but 2020 guidance remained withdrawn.DEMANTStatus Update
- Upgraded 2026 outlook after strong H1 growth, margin gains, and successful KIND and product launches.DEMANTQ2 2026
- Q1 2026 saw 6% organic growth, strong Hearing Aids and Oticon Zeal momentum, and improved profitability.DEMANTQ1 2026
- 2026 outlook: 3%-6% organic growth, DKK 4.1-4.5bn EBIT, cost savings, Zeal and KIND drive gains.DEMANTQ4 2025
- H1 2024 revenue up 4%, gross margin 76.8%, EBIT before special items down 4%.DEMANTQ2 2024
- EUR 700M acquisition secures German leadership, with synergies and EPS accretion expected.DEMANTM&A Announcement
- 2025 outlook cut as US market weakness and FX headwinds hit growth and earnings.DEMANTQ1 2025
Next Demant earnings date
CMD 202624 Nov, 2026
Demant
Next Demant earnings date
CMD 202624 Nov, 2026
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Frequently asked questions
Demant A/S is a hearing healthcare and audio technology company, headquartered in Denmark. Demant A/S develops, manufactures, and sells products and equipments to enhance people's hearing. Clients are able to meet with a specialist who will help them select their product. They also have access to a team of advisors offering on-going support.