Demant A/S : Weak Q3 and guidance cut
>Q3 impacted by Hearing Care and Communications - Demant’s Q3 2022 revenues of DKK 4,607m (+1.8% y-o-y) were 7% lower than our expectations and those of the consensus. Organic growth of 1% compares to ODDO BHF’s 5% and the consensus’ expectations of 4%. Acquisitions contributed 200bp to growth and forex provided a tailwind of 700bp. While hearing aids continued to perform strongly with 6% organic growth, the hearing care business experienced a strong decline of 5...William Demant Holding is a holding company. Through its subsidiaries, Co develops, manufactures and sells products and equipment designed to aid the hearing and communication of individuals. Co. focuses on four areas: Hearing Devices, Diagnostic Instruments, Hearing Implants and Personal Communication. Co.'s hearing devices include Oticon, Bernafon, Sonic, Phonic Ear, and FrontRow. Co.'s Hearing implant consist of Oticon Medical. Co.'s diagnostic instruments include Maico, Interacoustics, Amplivox, Grason-Stadler, MedRx, and Micromedical. Co.'s personal communication consists of Sennheiser Communications.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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