GN Hearing Sales Dip in Q2 as Amplifon Deal Advances

GN Hearing—the hearing-aid division of GN Store Nord which includes ReSound, Beltone, and Jabra Enhance—recorded a modest decline in the second quarter of 2026, as weakness at a major U.S. customer offset stronger performance outside the United States. The results come as GN separates its hearing-related operations ahead of its planned sale to Amplifon, a transaction the company still expects to close by the end of 2026. At the same time, GN Hearing has almost completely rejuvenated its product lineup in the past three weeks with the launch of ReSound Sensia and Beltone Illuminate, as well as Jabra Enhance Select M Series.

GN Hearing, now reported as discontinued operations, generated Q2 revenue of DKK 1.772 billion (about US$277.1 million), down 5% from DKK 1.858 billion (≈$290.5 million) a year earlier. On an organic basis, which excludes currency and acquisition effects, revenue declined 2%. GN noted that Q2 2025 provided a difficult comparison, with 8% organic growth, while foreign exchange reduced reported Q2 2026 growth by another 3 percentage points.

GN said expected U.S. tariff refunds of DKK 100-150 million ($15.6-$23.5 million) should help margins and cash flow during the second half.

For hearing-industry observers, the most notable geographic detail was the United States. GN said quarterly growth was affected by “a challenging revenue development in one of the major US key accounts,” while growth outside the U.S. remained strong. The slowdown followed a strong first quarter, when ReSound Vivia helped GN Hearing deliver 9% organic growth.

Across the first 6 months of 2026, Hearing revenue totaled DKK 3.527 billion ($551.5 million), compared with DKK 3.561 billion ($556.8 million) in H1 2025. Organic revenue growth was 3% for the half, despite the 1% decline in reported revenue.

Profitability also remained comparatively strong. Adjusted EBITA for Hearing was DKK 321 million ($50.2 million) in Q2, down from DKK 382 million ($59.7 million) a year earlier, with the adjusted EBITA margin slipping to 18.1% from 20.6%. For H1, however, adjusted EBITA increased to DKK 621 million (US$97.1 million) from DKK 553 million (US$86.5 million), lifting the adjusted margin to 17.6% from 15.5%. GN recorded DKK 58 million ($9.1 million) in one-off Q2 costs associated with the planned sale.

New Products Arrive in Front of Ownership Transition

GN highlighted ReSound Sensia, along with its Beltone Illuminate counterpart, as an important new platform for the business during the transition. The AI-based hearing aid family began a phased launch on August 20 in the U.S., Germany, and Austria, with additional markets to follow. The new flagship hearing aid combines a new environmental classifier, 4-microphone directional beamforming, and DNN-based noise reduction, and will be available in RIE and ITE form factors.

CEO Peter Karlströmer said, “In Hearing, the ReSound Sensia platform will strengthen the business as we progress the carve-out and advance toward closing the divestment to Amplifon.”