Consolidated revenues in the first half-year amounted to DKK 2,684 million,
matching an increase of 8% measured in local currencies. In the period under
review, Hearing Aids achieved 9% growth measured in local currencies.
With 13% unit growth in the sale of Group-manufactured hearing aids in the
first half-year, the Group once again captured sizeable market shares.
In the first half-year, operating profits (EBIT) amounted to DKK 672 million,
matching a profit margin of 25.0%. The figure includes a positive one-off
effect of a property sale and the reorganisation of production worth a total of
DKK 25 million. Cash flow from operating activities (CFFO) amounted to DKK 470
million, or a 23% rise.
The sale of Epoq has fully matched our expectations and with the
extraordinarily favourable response from customers and end-users, the outlook
for Epoq is highly promising in the quarters to come and so is the long-term
positioning of both Epoq and the RISE architecture.
In May 2007, we upgraded our growth forecast in respect of earnings per share
(EPS) to 19-23% for the year as a whole. We maintain our raised forecast which
was first and foremost based on the reform of corporate income taxation in
Denmark.
We also maintain our previous forecast of revenue growth of 9-12% for 2007
measured in local currencies and an improvement of operating profits (EBIT) of
12-18%.
