16.7.2024 18:44:28 CEST | Demant A/S |
Intern viden
Selskabsmeddelelse nr. 2024-10 16. juli 2024
Reviderede forventninger til 2024 og foreløbige økonomiske nøgletal for H1
Reviderede forventninger til 2024: Organisk vækst på 2-4 % (tidl. 4-8 %) og EBIT før særlige poster på DKK 4.300-4.600 mio. (tidl. DKK 4.600-5.000 mio.)
Foreløbig organisk vækst på 3 % i Q2 under forventningerne pga. Hearing Aids og Diagnostics
Nuværende lav vækst i Hearing Aids forventes at fortsætte i H2 drevet af bevidst brand-strategi inden for forsikringsdækket behandling (managed care) i USA
Udvikling i perioden
Medmindre andet er angivet, vedrører nedenstående H1 2024.
Demant opdaterer i dag sine forventninger til 2024 og offentliggør foreløbige økonomiske nøgletal for H1, hvor koncernen rapporterer om organisk vækst på 3 % (Q2: 3 %) og et EBIT før særlige poster på DKK 2.068 mio. i H1 2024. Koncernen har samtidig genereret meget solide frie pengestrømme i rapporteringsperioden.
I forretningsområdet Hearing Aids var den organiske vækst i omsætningen fra eksterne kunder 2 % (Q2: 1 %) drevet af meget stærke sammenligningstal, men udviklingen i Q2 har ikke desto mindre været under forventningerne. I rapporteringsperioden har vores flagskibsprodukt Oticon Intent fået en god modtagelse hos de uafhængige forhandlere på niveau med vores forventninger.
Efter vores strategiske beslutning om at positionere vores brands tydeligere på tværs af kanaler i USA har vi i Q2 oplevet et betydeligt tab af markedsandel inden for managed care, som ikke er blevet fuldt opvejet af yderligere salg til de uafhængige forhandlere i USA. På trods af denne modvind fastholder vi vores brand-strategi i USA.
Den generelle konkurrencesituation er fortsat intens, hvilket har påvirket væksten i nogen grad – især i mere prisbevidste kanaler og segmenter.
I forretningsområdet Diagnostics var den organiske vækst 3 % (Q2: 0 %) med negativ vækst i Kina og på tværs af vores portefølje af balanceprodukter. Selvom resultaterne var svagere end forventet, forventer vi, at væksten vil stige i H2.
Forretningsområdet Hearing Care leverede et positivt resultat med organisk vækst på 3 % (Q2: 5 %), hvilket er på niveau med forventningerne.
Reviderede forventninger til 2024
Vi har revideret vores forventninger til 2024 baseret på et opdateret syn på H2 og de realiserede resultater i Q2:
Parameter
Forventninger til 2024
Organisk vækst
2-4 % (tidligere 4-8 %)
EBIT før særlige poster
DKK 4.300-4.600 mio. (tidligere DKK 4.600-5.000 mio.)
Aktietilbagekøb
Uændret og fortsat over DKK 2.000 mio.
De reviderede forventninger er baseret på følgende opdaterede antagelser:
I Hearing Aids antages det, at tabet af markedsandel i managed care samt vores manglende evne til at kompensere fuldt ud herfor gennem yderligere salg til de uafhængige forhandlere i USA vil fortsætte på det nuværende niveau i resten af 2024.
For at opnå en bedre balance mellem væksten i omsætning og OPEX har vi gennemført nogle omkostningsbesparende tiltag på tværs af koncernen. Hvis vi medregner effekten af disse tiltag, forventer vi sammenlignet med samme periode sidste år at levere lav til midt encifret organisk vækst i OPEX i H2.
Offentliggørelse af halvårsrapport
De angivne økonomiske nøgletal er foreløbige. Demant fremlægger de fuldstændige tal i sin halvårsrapport, der offentliggøres den 14. august 2024.
Yderligere information:
Søren Nielsen, koncernchef og adm. direktør
Telefon +45 3917 7300
www.demant.com
Øvrige kontaktpersoner:
René Schneider, CFO
Peter Pudselykke, Head of Investor Relations
Trine Kromann-Mikkelsen, VP Corporate Communication and Sustainability
Kontakter
Henrik Axel Lynge Buchter, External Communication Manager, Corporate Communication & Sustainability, +45 2264 9982, heey@demant.com
Om Demant A/S
Demant is a world-leading hearing healthcare group that offers solutions and services to help people with hearing loss connect with the world around them. In every aspect, from hearing devices, hearing implants, diagnostics to audio and video solutions and hearing care all over the world, Demant is active and engaged. Our innovative technologies and know-how help improve people’s health and hear-ing. We create life-changing differences through hearing health.
Vedhæftninger
2024-10 Reviderede forventninger til 2024 og foreløbige økonomiske nøgletal for H1.pdf
16.7.2024 18:44:28 CEST | Demant A/S |
Inside information
Company announcement no 2024-10 16 July 2024
Revised financial outlook for 2024 and preliminary H1 financial key figures
Outlook for 2024 revised: Organic growth of 2-4% (prev. 4-8%) and EBIT before special items of DKK 4,300-4,600 million (prev. DKK 4,600-5,000 million)
Preliminary organic growth of 3% in Q2 below expectations due to Hearing Aids and Diagnostics
Current low growth in Hearing Aids expected to continue in H2 due to our chosen managed care brand strategy in the US
Developments during the period
Unless otherwise indicated, the commentary below relates to H1 2024.
Today, Demant updates its financial outlook for 2024 and provides preliminary financial key figures for H1, with the Group reporting organic growth of 3% (Q2: 3%) and an EBIT before special items of DKK 2,068 million for H1 2024. In addition, the Group has seen very solid free cash flow generation in the reporting period.
In Hearing Aids, organic growth in revenue from external customers was 2% (Q2: 1%) driven by very strong comparative figures, but the development in Q2 has nonetheless been below expectations. In the reporting period, the reception of our flagship product Oticon Intent by the independent channel has been good and in line with our expectations.
Following our strategic decision to position our brands across channels in the US more clearly, we have seen significant loss of market share in managed care in Q2, which has not been fully compensated by additional sales to independents in the US. Despite the current headwinds, we remain firmly committed to our brand strategy in the US.
The general competitive environment remains intense, which has had some impact on growth – particularly in more price-focused channels and segments.
In Diagnostics, organic growth was 3% (Q2: 0%) with negative growth in China and across our portfolio of balance products. While performance was weaker than expected, we expect growth to improve in H2.
Hearing Care saw positive performance with organic growth of 3% (Q2: 5%), which is in line with expectations.
Revised financial outlook for 2024
We have revised our financial outlook for 2024 based on an updated view on H2 and the results realised in Q2:
Metric
Outlook for 2024
Organic growth
2-4% (previously 4-8%)
EBIT before special items
DKK 4,300-4,600 million (previously DKK 4,600-5,000 million)
Share buy-backs
Remain unchanged at more than DKK 2,000 million
The revised outlook is based on the following updated assumptions:
In Hearing Aids, the loss of market share in managed care and the lack of ability to fully compensate through additional sales to independents in the US are assumed to continue at the current level for the remainder of 2024.
In order to achieve a better balance between revenue and OPEX growth, we have taken certain cost-saving initiatives across the Group. When including the effect of these initiatives, we expect OPEX to grow organically in the low-to-mid single digits in H2 compared to the same period last year.
Publication of Interim Report
The stated financial key figures are preliminary, and Demant will release the full details in its Interim Report to be published on 14 August 2024.
Further information:
Søren Nielsen, President & CEO
Phone +45 3917 7300
www.demant.com
Other contacts:
René Schneider, CFO
Peter Pudselykke, Head of Investor Relations
Trine Kromann-Mikkelsen, VP Corporate Communication and Sustainability
Contacts
Henrik Axel Lynge Buchter, External Communication Manager, Corporate Communication & Sustainability, +45 2264 9982, heey@demant.com
About Demant A/S
Demant is a world-leading hearing healthcare group that offers solutions and services to help people with hearing loss connect with the world around them. In every aspect, from hearing devices, hearing implants, diagnostics to audio and video solutions and hearing care all over the world, Demant is active and engaged. Our innovative technologies and know-how help improve people’s health and hear-ing. We create life-changing differences through hearing health.
Attachments
2024-10 Revised financial outlook for 2024 and preliminary H1 financial key figures.pdf
