GN Hearing A/S Due Diligence

Run due diligence on GN Hearing A/S: check compliance and get alerts when suppliers or ownership change.

Denmark · owned by GN STORE NORD A/S (Denmark) · GNhearing.com · 15 vendors

GN Hearing A/S is a Danish manufacturer of hearing aids, best known for its ReSound brand of advanced hearing solutions. The company develops and markets hearing aids featuring cutting-edge technologies such as Bluetooth Low Energy audio streaming, AI-powered sound processing, and rechargeable designs. It serves hearing care professionals and patients worldwide through its global distribution network.

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1 service in catalogue across 1 category; runs on 15 sub-vendors.

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Last updated 2026-09-13 · revision 2

15 direct vendors, 174 subvendors

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Financials

Three-year financials

Financial Resilience Score: 7/10

GN Hearing A/S benefits from being a wholly owned subsidiary of GN Store Nord A/S, a Nasdaq Copenhagen-listed parent with access to public capital markets, bank facilities, and a multi-decade operating history. The company has strong global brands (ReSound, Beltone, Jabra Enhance) distributed across 100+ countries, technology leadership in Made-for-iPhone hearing aids and Bluetooth LE Audio/Auracast, and benefits from structural tailwinds including ageing demographics and low penetration of hearing aids relative to the addressable hearing-loss population. However, the business faces material headwinds. The 2022 fiscal year showed margin pressure from US market softness, cost inflation, and supply chain issues, with segment EBITA falling to approximately DKK 900M from DKK 1,300M in 2021. The parent group took significant impairments and restructuring charges in 2022 related to the SteelSeries acquisition, and required a capital raise in 2023, constraining group-level financial flexibility. Competition is concentrated and oligopolistic (Sonova/Phonak, Demant/Oticon, WS Audiology, Starkey), creating ongoing pricing and R&D pressure. The 2023 recovery driven by ReSound Nexia (first Auracast hearing aid) demonstrates resilience and execution capability, with growth returning to mid-single digits and EBITA recovering toward DKK 1,100-1,300M. Overall the financial profile is solid but cyclically sensitive to product launches and US market dynamics.

Key strengths: Wholly owned subsidiary of Nasdaq Copenhagen-listed GN Store Nord A/S, Strong global brands: ReSound, Beltone, Interton, Jabra Enhance, Technology leadership in Bluetooth LE Audio/Auracast (ReSound Nexia, Vivia), Distribution in 100+ countries, Structural demographic tailwinds and low hearing-aid penetration, Strategic partnership with Cochlear for bimodal solutions, Mid-single-digit organic CAGR through the 2010s

Risk factors: Concentrated oligopolistic competition (Sonova, Demant, WS Audiology, Starkey), High US market exposure (45-55% of Hearing revenue) with reimbursement and OTC regulatory risk, FX exposure to USD/EUR vs DKK reporting, Parent group leverage increased after 2022 SteelSeries acquisition, 2022 impairments and 2023 capital raise at parent level, Technology cycle risk - missing a product cycle would be costly, Margin pressure from cost inflation demonstrated in 2022

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