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GN Store Nord (GN) investor relations material
GN Store Nord Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Continuing-operations revenue grew 3% to DKK 2,267m, including 2% organic growth; adjusted EBITA was DKK 413m, with an 18.2% margin versus 8.8% a year earlier.
Evolve3 and Gaming launches supported momentum; DKK 153m of tariff refunds also boosted Q3 gross profit.
Financial highlights
Adjusted gross profit was DKK 1,324m and adjusted gross margin was 58.4%, versus DKK 1,084m and 49.0% in Q3 2025.
Free cash flow excluding M&A was DKK 45m; working-capital changes were negative DKK 205m, with a build-up ahead of Q4.
Net interest-bearing debt was DKK 9,578m and adjusted leverage was 3.9x, versus 4.0x in Q3 2025.
Continuing-operations net profit was DKK 144m; total profit including discontinued operations was DKK 379m.
Outlook and guidance
FY 2026 guidance was confirmed: continuing-operations organic revenue growth of 0%–3% and adjusted EBITA margin of 9%–10%, excluding Hearing transaction one-off costs.
Enterprise is expected to grow in the lower half of its -3% to +3% range; Gaming is expected in the lower half of its 7% to 13% range, implying strong double-digit Q4 growth.
Core Enterprise, excluding FalCom and BlueParrott, is expected to sustain Q3 momentum in Q4; further wireless launches are planned for early 2027.
FalCom FY26 revenue is now expected at DKK 150m versus DKK 200m previously, as larger projects move into 2027; Q4 faces a 2%–3% comparative headwind.
Q4 OPEX is expected to be marginally higher, mainly due to sales and marketing launch support; Q3 G&A was unusually low after allocation corrections.
- No dividend; Klaus Holse elected as the Remuneration Report lacked an advisory-vote majority.GN
AGM 2023 - 2023 accounts approved, no dividend; two new directors elected and governance measures adopted.GN
AGM 2024 - FY2026 growth and margin targets rise as payouts remain paused to reduce leverage.GN
AGM 2026 - Audio growth offset Hearing weakness; AGM approved a DKK 1.45 dividend and tax review.GN
AGM 2021 - Hearing profitability recovery and expansion across audio, video and gaming led the agenda.GN
C-level Sitdown - Gross margin rose to 52.1% as new launches offset a 4% organic revenue decline.GN
Q2 2026 - Hearing business sold to Amplifon for DKK 17B, enabling tech focus and global audiology leadership.GN
M&A announcement - Margin and cash flow improved, but leverage kept dividends paused.GN
AGM 2025 - Q1 organic revenue fell 3%, but new launches and cost actions support cautious 2025 guidance.GN
Q1 2025
Next GN Store Nord earnings date
Next GN Store Nord earnings date
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