2024 highlights
GN delivered revenue of DKK 18.0 billion with organic revenue growth of 1%, as a result of 10% organic revenue growth in Hearing, -3% organic revenue growth in Enterprise, 7% organic revenue growth in Gaming, and -31% organic revenue growth in Consumer due to the wind-down Excluding the wind-down, Group organic revenue growth was 4%Reported EBITA of DKK 2.2 billion and a margin of 12% Free cash flow excluding M&A ended at DKK 1.1 billion leading to an adj. leverage of 3.5xThe strong financial performance is supported by the one-GN transformation, which is progressing well driving simplicity, efficiency, and better utilization of shared capabilities and joint innovation
GN’s financial performance in 2024 demonstrates that GN is on track to deliver the intended results from the transformation into a simpler and more efficient one-company setup, driving profitable growth in attractive markets.
In the Hearing division, GN performed strongly leading to market share gains as a result of 10% organic revenue growth. The performance was broad-based across regions and channels supported by the successful ReSound Nexia product family. Revenue reached DKK 7,104 million, compared to DKK 6,802 million in 2023, including M&A impact of -4% while impact from foreign exchange rates was -2%.
In the Enterprise division, GN executed well and maintained its global market leadership position in a challenging but improving enterprise market. The performance during the year was based on flat organic revenue growth in headsets, double-digit organic revenue growth in video, while the speakerphone category experienced high double-digit decline as a result of the structurally declining market and a demanding comparison base from 2023. Consequently, the Enterprise division delivered -3% organic revenue growth. Revenue in 2024 reached DKK 7,205 million, compared to DKK 7,463 million in 2023.
In the Gaming and Consumer division, GN continued
