GN Store Nord A/S (Nasdaq Copenhagen: GN.CO; Investegate reference: 0K9P) has published its interim report for Q3 2026, revealing group adjusted EBITA of DKK 413 million and an adjusted EBITA margin of 18.2% for continuing operations, up from 8.8% in Q3 2025. The Enterprise division recorded 1% organic revenue growth supported by the second wave of its Evolve3 headset platform launch, while the Gaming division posted 5% organic growth in a recovering market. The company also confirmed its full-year 2026 financial guidance unchanged and reiterated plans to distribute at least DKK 4 billion to shareholders by end of 2027, subject to closing its previously announced sale of the Hearing division to Amplifon S.p.A.

Key Points

  • GN Store Nord A/S (Nasdaq Copenhagen: GN.CO; Investegate reference: 0K9P), a global audio, hearing, and gaming technology group founded in 1869
  • Group adj. EBITA (continuing operations) reached DKK 413 million in Q3 2026, with an adj. EBITA margin of 18.2%, more than doubling year-on-year from 8.8%
  • Full-year 2026 guidance confirmed: organic revenue growth of 0–3% and adj. EBITA margin of 9–10% for continuing operations; Hearing transaction with Amplifon expected to close by end of 2026
  • Investors may be watching progress on regulatory approvals for the Hearing sale and the tax separation payment now estimated at DKK 300–500 million

Evolve3 Launch Drives Enterprise Margin Expansion to 36.7% in Q3 2026

GN Store Nord's Enterprise division, which markets professional audio and video collaboration products under the Jabra brand across more than 100 countries, reported divisional revenue of DKK 1,639 million in Q3 2026, with 1% organic growth. The divisional profit margin reached 36.7%, compared with 33.8% in Q3 2025, supported by tariff refunds, a stable underlying gross margin and channel investments tied to the Evolve3 platform launch. The announcement states that solid performance in North America and APAC continued, while the EMEA business showed gradual improvement driven by strong demand for the Evolve3 portfolio, which is central to GN's enterprise recovery strategy.

Gaming Division Posts 28.5% Divisional Margin as SteelSeries Launches Gain Traction

The Gaming division, which sells products under the SteelSeries brand, delivered organic revenue growth of 5% in Q3 2026, with divisional revenue of DKK 628 million. The divisional profit margin expanded significantly to 28.5% from 5.5% in Q3 2025, reflecting strong underlying gross margin improvement and tariff refunds, partially offset by elevated channel investment to support ongoing product launches. North America and Europe were the primary growth drivers, while the Rest of World region faced a difficult comparison base. Free cash flow excluding M&A for the group ended at DKK 45 million, impacted by one-off costs related to the Hearing carve-out process and working capital timing ahead of Q4 2026.

Amplifon Hearing Sale Progress: Separation Tax Payment Revised Down to DKK 300–500 Million

GN Store Nord entered into a definitive agreement on 16 March 2026 to sell its Hearing division — which markets hearing aids under the ReSound, Beltone, Interton and Danavox brands — to Amplifon S.p.A., a leading global hearing care retailer. The transaction remains subject to customary regulatory approvals and completion of the business separation, both expected by year-end. The announcement notes that the tax payment arising from the separation is now estimated at DKK 300–500 million, revised down from a previous estimate of DKK 1.5–2.0 billion. An equal-sized tax asset will be generated for GN to utilise against future tax liabilities. The Hearing division itself reported revenue of DKK 1,831 million and 5% organic growth in Q3 2026.

Full-Year 2026 Guidance Unchanged as GN Plans February Capital Markets Day

GN Store Nord confirmed its 2026 financial guidance for continuing operations without revision: organic revenue growth of 0–3% and an adjusted EBITA margin of 9–10%. The company, which employs more than 7,000 people and is listed on Nasdaq Copenhagen, stated its intention to distribute at least DKK 4 billion to shareholders by end of 2027 once the Hearing transaction closes. A capital markets day is planned for February 2026, where management has indicated it will outline strategy and priorities for the continuing group. A teleconference for analysts and investors was scheduled for 11.00 a.m. CET on 5 November 2026.