Demant reports increase in quarterly revenue

Despite an exceptionally high revenue increase in the first quarter of last year, Demant A/S managed to slightly increase their revenue in this year’s first quarter. The company, which produces Oticon hearing aids and operates thousands of hearing clinics, achieved a turnover of 5.4 billion Danish Kroner. CEO Søren Nielsen reported a satisfactory 3 percent organic growth and expects future growth driven by newly launched flagship hearing aids, including Oticon Intent. Demant anticipates a yearly organic growth of 4 to 8 percent. The revenue growth in Hearing Care was largely static, with underperformance in France and China. Demant is planning to divest its Hearing Implants and Communications divisions. The company aims to complete the sale of Hearing Implants by mid-year and evaluate the options for Communications. Demant employs over 21,000 people worldwide and is headquartered in Smørum.