High Gross MarginsA sustained gross margin around 75.6% indicates durable product economics and structural pricing power in core hearing-aid products and instruments. High gross margins give the company room to absorb SG&A, fund R&D and support margin recovery even if ASPs or mix shift temporarily.
Strong Cash GenerationConsistently high free-cash-flow conversion (~84% of net income) and multi-billion DKK FCF provide a durable source for deleveraging, capex, and integration funding. Even with a modest FCF decline, strong conversion supports strategic flexibility and funds the 2026 cost program.
Expanded Hearing-care Footprint (KIND)Closing KIND materially increases retail scale (Germany leadership), broadens recurring service revenues and clinic reach, and adds predictable EBIT contribution. The acquisition strengthens market position and cross-sell potential, supporting structurally higher recurring margins over coming years.