The positive development in GN Netcom continued in Q1 2010. In Q1, GN Netcom
generated higher than expected growth. Especially on the important US market,
GN Netcom saw significant double-digit organic growth rates compared to Q1 2009
and organic growth for Q1 2010 ended at 9% for GN Netcom overall.
The better than expected revenue growth is partially driven by GN Netcom's
Unified Communications products.
GN Netcom's organic revenue growth for 2010 is expected to be at least 5%. GN
previously guided that “the headset market is assumed to remain largely flat
in terms of value during 2010” and “GN Netcom's revenue is expected to grow at
least in line with the market” (Annual Report 2009).
GN Netcom now expects an EBITA for 2010 of DKK 150-200 million, up from the
previous outlook of DKK 100-150 million provided in the Annual Report 2009.
For GN Store Nord, EBITA is consequently expected to improve from DKK 8 million
in 2009 to DKK 400-500 million in 2010. Amortization of intangible assets and
financial items is still expected to amount to approximately DKK (50) million
and profit before tax is thus expected to be DKK 350-450 million.
For further information, please contact:
Mikkel Danvold
Director, IR & Communications
GN Store Nord A/S
Tel: +45 45 75 02 71
