GN Store Nord stock trades at EUR 14.80 as margin guidance improves

Published on 09/30/2026 at 13:36 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

GN Store Nord stock follows DKK 110 million adjusted EBITA in Q2 2026 and a 5.00 percent margin. Jyske Bank upgraded its rating on September 23, 2026.

Techniker fertigen Hörgerätekomponenten in sterilem Reinraum mit Mikroskopen — GN Store Nord A/S (DK0010272632) betreibt moderne Reinraum-Fertigung winziger Hörgerätekomponenten unter Mikroskopen in Kopenhagen, Illustration mit AI erstellt.

GN Store Nord (ISIN DK0010272632) was trading at EUR 14.80 at Lang & Schwarz on September 30, 2026 at 1:31 p.m. CEST, up 0.82 percent versus the prior close of EUR 14.68. The key operating signal is a higher full-year margin outlook after a difficult second quarter.

Q2 margin recovery drives outlook

According to Yahoo Finance, GN reported DKK 110 million of adjusted EBITA in Q2 2026, producing a 5.00 percent adjusted EBITA margin. Continuing operations delivered organic revenue growth of minus 4.00 percent, while free cash flow excluding mergers and acquisitions was minus DKK 616 million.

The improvement is concentrated in profitability rather than top-line momentum. Gaming revenue reached DKK 630 million with 5.00 percent organic growth, and gaming gross margin rose to 39.20 percent from 34.00 percent in Q2 2025, according to the same Q2 earnings call.

Guidance improves despite demand risks

GN upgraded its full-year adjusted EBITA margin guidance to 9.00 percent-10.00 percent, while narrowing revenue expectations toward the lower half of its earlier range. Management linked the change to gross-margin improvement, operating leverage and expected tariff refunds of DKK 100 million-DKK 150 million in the second half of 2026.

The counterweight is execution. Enterprise organic revenue declined 7.00 percent in Q2, or 3.00 percent excluding FalCom, while net interest-bearing debt stood at DKK 9.60 billion. The Evolve3 headset rollout and new gaming products are therefore central to the planned second-half recovery.

Analyst upgrade meets modest price move

Fintel reported that Jyske Bank upgraded GN Store Nord from Hold to Buy on September 23, 2026. The report also put the consensus target mean at EUR 15.39 as of September 14, 2026, versus EUR 15.01 on August 28, 2026, a 2.53 percent increase.

For investors, the numbers define a two-sided setup: the margin target improved, but revenue growth and cash flow remain under pressure. GN Store Nord operates through GN Hearing and GN Audio, with hearing aids, headsets and communication products forming the core business.

GN Store Nord stock trades higher

At Lang & Schwarz, GN Store Nord stock was trading at EUR 14.80 on September 30, 2026 at 1:31 p.m. CEST, up 0.82 percent from the prior close of EUR 14.68 on September 29, 2026. Its market capitalization was DKK 16.1 billion, and the 52-week range was DKK 85.12-DKK 123.75 as of September 30, 2026.