Demant

Earnings Release • Feb 26, 2013

-- In 2012, consolidated revenue totalled DKK 8,555 million, matching a growth
rate of just over 6%, with acquisitions and changes in foreign exchange
rates being the growth drivers, whereas organic growth was modest.
-- The Group's three business activities Hearing Devices, Diagnostic
Instruments and Personal Communication achieved growth rates in revenue of
5%, 23% and 8%, respectively.
-- In 2012, the Group generated an operating profit (EBIT) of DKK 1,653
million against DKK 1,709 million in 2011. The profit margin was 19.3%.
-- Consolidated cash flow from operating activities amounted to DKK 1,272
million, which is slightly above the 2011 level, if we adjust for the
payment of DKK 118 million in connection with the closing of the ETG patent
infringement case.
-- Oticon's new high-end hearing aid, Oticon Alta, which was successfully
launched in January 2013 and is based on the also brand new Inium platform,
sets new standards for natural sound and speech intelligibility. Oticon
Alta has been well received and is now available on all main markets.
-- In 2013, we expect organic revenue growth in our wholesale of hearing aids
to exceed market growth rates by 3-5 percentage points in local currencies
and thus expect to continue to increase our market share. In 2013,
corporate operating profit (EBIT) is expected to exceed the level realised
in 2012.