Group revenue and growth momentum
Full-year 2025 organic growth of 2% (5% in local currencies); second half organic growth improved to 4%, showing sequential recovery across all three business areas.
Strong cash generation
Full-year cash flow from operations DKK 3.85 billion and free cash flow above DKK 3.0 billion; H2 cash flow from operations DKK 2.3 billion and H2 free cash flow ~DKK 2.0 billion.
KIND acquisition expands Hearing Care footprint
Acquisition of the KIND Group closed in December 2025, significantly expanding position in Germany (expected #1 in Hearing Care) and expected to contribute ~DKK 300 million to EBIT before special items in 2026 (11 months ~DKK 275 million in modelling).
Successful product launch — Oticon Zeal
Oticon Zeal (launched Oct 2025 in selected markets) received very positive feedback, lifted sales in the first four European markets, increased uptake among first-time users and also boosted sales of other portfolio products; rollout progressing (U.S. launched, Canada and France upcoming).
Hearing Care and Diagnostics Q4 strength
Hearing Care: Q4 local currency revenue up 17% and organic growth ~5% in the quarter (tailwind from one month of KIND); Diagnostics: Q4 organic growth of 8% in local currencies and strong performance in U.K., Germany, U.S./Canada (driven by services and consumables) and Australia (instruments).
Clear 2026 financial targets and profitability program
2026 guidance: organic growth 3%–6% and EBIT before special items DKK 4.1–4.5 billion. Company-wide cost initiative expected to deliver ~DKK 250 million EBIT impact in 2026 and ~DKK 500 million from 2028 onward.
Sustainability and people metrics
Improved lives reached 12 million persons; scope 1 & 2 GHG emissions down 16% vs baseline (target 46% by 2030); gender diversity in top management 33% (target >35% by 2030); near-complete roll-out of people-readiness metrics.