DEMANT Demant A/S

Demant A/S: Capital reduction as well as total number of voting rights and capital

Demant A/S: Capital reduction as well as total number of voting rights and capital

Company announcement no 2020-0620 April 2020

Completion of capital reduction in Demant A/S

As stated in company announcement no. 2020-04, it was decided at Demant A/S’ ordinary general meeting on 10 March 2020 to reduce the company’s share capital by nominally DKK 919,173.40 divided into 4,595,867 shares of DKK 0.20, corresponding to the company’s holding of treasury shares at 4 February 2020 with the deduction of shares to cover Management's retention programme and the employee share salary arrangement.

The capital reduction was published in the electronic information system of the Danish Business Authority on 12 March 2020. The advertisement period expired without any objections being raised. Consequently, we have notified the Danish Business Authority of the capital reduction. After the capital reduction, the share capital of Demant A/S amounts to nominally DKK 48,138,233.60.

In accordance with Section 32 of the Danish Capital Markets Act, we hereby state that the company’s total share capital and total number of voting rights amount to:

Share capital (nominal):DKK 48,138,233.60
  
Number of voting rights:240,691,168

* * * * * * *

Further information:

Søren Nielsen, President & CEO

Phone

Other contacts:

René Schneider, CFO

Mathias Holten Møller, Head of IR

Christian Lange, IR Officer

Trine Kromann-Mikkelsen, VP Corporate Communication and Relations



Attachment

EN
20/04/2020

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Reports on Demant A/S

Rune Majlund Dahl
  • Rune Majlund Dahl

Demant (Buy, TP: DKK400.00) - 2024 likely to be back-end loaded

We forecast Q1 organic revenue growth of 4.7% YOY (in line with consensus), driven by Hearing Care (we forecast 4.9%) and Diagnostics (we forecast 8.4%), while Hearing Aids faces a tough YOY comparable (we forecast 3.6%). We expect 2024 to be back-end loaded and driven by Oticon Intent. We expect maintained 2024 guidance of 4–8% organic growth, c1% M&A growth, c-1% FX, and EBIT of DKK4.6bn–5.0bn. We reiterate our BUY and DKK400 target price.

Rune Majlund Dahl
  • Rune Majlund Dahl

Demant (Buy, TP: DKK400.00) - Improved long-term outlook

At its CMD, Demant updated its long-term outlook. It now targets 8–10% LCY growth (7–10%) including 6–8%-points organic growth and c2%-points M&A growth, and still sees incremental EBIT margin expansion. It expects the hearing-aid market to grow 4–6% p.a. in value (2–5%), as ASP is now guided fairly flat. We are positive on the Sirius-based Oticon Intent launch. We reiterate our BUY, and have raised our target price to DKK400 (375).

Oliver Metzger
  • Oliver Metzger

Demant A/S : Strong performance to continue

>Strong performance to continue - Demant’s Q4 results showed, with an organic growth of 10%, a continuation of the strong performance of previous quarters. On the back of the announced launch of the new hearing aid platform Oticon Intega, we expect that the market share gains in the hearing aid segment will continue also in 2024. Our organic growth forecast for 2024 stands at 7.4% (guidance 4-8%) for the company driven by an expected 8.0% for the hearing aid wholesale...

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