WILLF Earnings Calls - Demant A/S - Alpha Spread

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Price: 51.2 USD Market Closed

Market Cap: $11.3B

Earnings Calls

Fiscal Period

Q2 2026

Call Date

Aug 12, 2026

AI Summary

Q2 2026

Outlook raised: Demant lifted 2026 organic revenue growth guidance to 6% to 7% and EBIT before special items to DKK 4.4 billion to DKK 4.8 billion after a strong first half and better second-half momentum.

Strong first half: Reported revenue rose 15%, with 7% organic growth and 10% acquisitive growth, led by Hearing Aids, Hearing Care, and Diagnostics.

Margins improved: Gross margin increased by 1.1 percentage points, helped by stronger product and geography mix in Hearing Aids and the KIND acquisition in Hearing Care.

Launch momentum: Oticon Zeal continued to drive strong growth, and Demant said the newly announced Oticon Reveal should further support growth and pricing.

Costs and cash: Cost-saving initiatives are progressing ahead of plan, cash flow was strong, and leverage has already fallen to 3.0, ahead of the company’s deleveraging plan.

Key Financials

Revenue

15%

Organic revenue growth

7%

Acquisitive growth

10%

FX effect on revenue

-3%

Gross margin

1.1 percentage points

Gross profit

just shy of DKK 10 billion

OpEx growth

5%

EBIT before special items

DKK 2.134 billion

EBIT margin

16.5%

Cash flow from operations

DKK 1.6 billion

Net cash inflow from acquisitions and divestments

DKK 91 million

Net debt / gearing

3.0

Special items

DKK 216 million

KIND integration special items

DKK 150 million

Cost-saving initiative special items

DKK 250 million

Cost effectiveness program contribution

DKK 300 million

KIND EBIT contribution

DKK 325 million

Tariff refund

DKK 25 million

Hearing aid market growth

4% in value, 3% in units

Hearing Aids growth in Q2

10%

Hearing Care growth in Q2

31%

Diagnostics growth in Q2

9%

Earnings Call Recording

Open Full Analysis Open Transcript

Q2

Q2 Q3

Q2 Q1

Q3 Q1

Q3 Q1

Q3 Q1

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