William Demant Holding A/S
Interim Report 2013 – full report

William Demant Holding A/S 

14.08.2013 07:39
---------------------------------------------------------------------------


  -- In the first half-year, the Group realised revenue of DKK 4,541 million, or
     a 7% rise compared to the same period last year. Both the Group's core
     business, wholesale of hearing aids, as Diagnostic Instruments and Personal
     Communication have generated positive organic growth. Furthermore, revenue
     was positively impacted by acquisitions, including the acquisition in April
     2013 of the French implant company Neurelec.
  -- Driven by the successful launch of the high-end product Oticon Alta, the
     Group's core business, wholesale of hearing aids, has in the reporting
     period generated a growth rate that outmatches the market growth rate.
     Compared with the second half-year 2012, the organic growth rate was 8%.
     Growth was achieved despite continuously difficult conditions in several
     markets, including Denmark, Norway and Holland, where the Group has lost
     revenue of more than DKK 100 million, or 2-3% of corporate revenue.
  -- By virtue of the boosted sales momentum, corporate operating profit (EBIT)
     in the period under review reached DKK 880 million, or a rate of growth of
     12% on the second half of 2012. The profit margin (EBIT margin) was 19.4%,
     which is 1 percentage point above the level realised in the past six
     months. Compared to the second half-year of 2012, earnings per share (EPS)
     rose by as much as 16% to DKK 11.2, which are the highest earnings per
     share ever generated by our Group in any half-year period.
  -- Our hearing aid business will in the second half-year carry out its most
     comprehensive launch of new products ever, including the introduction of
     the mid-priced product Oticon Nera in early September. We will also see the
     introduction of a completely new family of paediatric products from Oticon
     and new mid-priced products from both Bernafon and Sonic.
  -- The Group maintains its expectations of 2013, except that the corporate tax
     rate is now expected to amount to 24-25% against a previously estimated tax
     rate of 'approx. 25%'. We would also emphasise that revenue and earnings in
     the second half-year are expected to exceed the levels achieved in the
     first six months. We thus maintain our expectation that for 2013, organic
     growth rates in the wholesale of hearing aids will exceed market growth
     rates by 3-5 percentage points and that our operating profit (EBIT) will
     exceed the level realised in 2012.
News Source: NASDAQ OMX



14.08.2013 Dissemination of a Corporate News, transmitted by DGAP - 
a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------
 
Language:     English
Company:      William Demant Holding A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0010268440
WKN:          
 
End of Announcement                             DGAP News-Service
 
---------------------------------------------------------------------------