innovation as a growth driver for gn hearing - pwc
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Gitte Aabo – CEO GN Hearing
Innovation as a growth driver for GN Hearing
2
“I’m so immensely proud that I’ve achieved this extremely hard challenge.
It was incredibly helpful that my hearing aids enabled me to focus on rowing
and communicating - without feeling limited by my hearing loss.”
Mo O’Brien – 4,800 km and 49 days of crossing the Atlantic Ocean
The GN Group proudly builds on 150 years of innovation
ESTABLISHED
1869
”The development of the
world is dependent on
communication”
GN founder C.F. Tietgen, 1869
CREATED THE FIRST
TELEGRAPHIC
CONNECTIONBETWEEN CHINA
AND THE REST OF
THE WORLD
10% of our revenue goes into research and development of new innovations
RESEARCH CENTERSIN DENMARK, USA, HOLLAND
AND CHINA
MARKETS HEARING AIDS
& HEADSETS IN
100 COUNTRIES
HEADQUARTERS IN
DENMARK6,500EMPLOYEES
Intelligent audio solutions
that let you hear more, do more
and be more than you ever
thought possible
GN consistently on a successful path
4
2008 – 2009
“FAST” R&D
focus
2010 – 2013
“SMART”
Operations
2014 – 2016
“Innovation &
Growth”
2017 – 2019
“Hear more, Do
More, Be More”
2020 – and beyond
GN strategy
2020 and beyond
5
GN Hearing’s journey towards more natural hearing…
New chipset – brilliant sound experience: unprecedented Layers of Sound™
and world’s most advanced rechargeable solution
Unprecedented benefits across three key dimensions – Sound Quality, efficient
and convenient fitting and groundbreaking remote fine-tuning
Surround Sound by ReSound upgraded with Spatial Sense, helping the user
hear where sounds are coming from, leading to more natural sound experience
The world’s first Made for iPhone hearing aid
World’s first 2.4 GHz based ear-to-ear data exchange, Binaural Directionality,
enables users to decide which sound to focus on
World's first 2.4 GHz wireless system
6th generation
2018
5th generation
2016
4th generation
2015
3rd generation
2014
2nd generation
2012
1st generation
2010ReSound Alera
ReSound Verso
ReSound LiNX
ReSound LiNX2
ReSound LiNX 3D
ReSound LiNX Quattro
Current industry obstacles driving low penetration and high return rates…
6
People often fail to notice that they
have a hearing loss
The first 90 days are a
mountain for first-time users to
overcome
Too many revisits at the HCP
Myth: ”Hearing aids are for old
people”
Product has little value unless it is
tuned and customized
Perception Reality
7
Much has happened in hearing aid technology over the past 10-15 years…
GN strategy 2020 and beyond
Engagement
& focus
Lean
& efficient
Sustainability
COMMERCIAL &
ECOSYSTEM EXCELLENCE
INNOVATION LEADERSHIP
INDIVIDUALIZED
CUSTOMER EXPERIENCE
Performance highlights past 3 years - 2017 – 2019 strategy period
9
Revenue growth
+45%+13% CAGR
EBITA growth
+47%+14% CAGR
EPS growth
+51%+15% CAGR
Share price
increase
+114%+29% CAGR
Cash
conversion
59%
Shareholder
distribution
4.0DKK billion
9 years of consecutive market share gains…
Average annual market
growth of ~4% (value)
GN Hearing organic growth development 2010 – 2019
201520132010 2016 20192014
6%
2011 20172012
9%
2018
2%
6%
9%
10%
8%
6%
7% 7%
1
... and a significant share price increase
2
Index
806
316
174
-
100
200
300
400
500
600
700
800
900
GN C20 CAP Stoxx 600
Index: 12/30/2011 = 100
Thank you
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