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GN GN Store Nord delivers 49 % organic revenue growth driven by strong growth in both GN Hearing and GN Audio GN Store Nord 49 % organic growth GN Hearing 95 % organic growth GN Audio 32 % organic growth DKK million Revenue Organic growth Gross profit Gross profit margin EBITA EBITA margin Earnings per share ( EPS ) Free cash flow excl . M & A Cash conversion * Including " Other " GN delivered 49 % organic revenue growth in Q2 2021 EBITA reached DKK 635 million corresponding to an EBITA margin of 16.8 % compared to 0.9 % in Q2 2020 , reflecting strong execution across the company Free cash flow excl . M & A was DKK 510 million in Q2 2021 , primarily reflecting the growth in earnings • Leverage of 1.3x net interest - bearing debt to EBITDA , compared to 1.6x by the end of Q1 2021 ● GN to launch new innovative lifestyle product extending the Jabra Enhance line of hearing enhancement solutions The financial guidance is confirmed ● GN Hearing delivered organic revenue growth of 95 % in Q2 2021 in a market continuously impacted by the ongoing COVID - 19 pandemic . The market recovery continues to vary significantly across regions and countries EBITA improved to DKK 153 million in Q2 2021 compared to DKK -336 million in Q2 2020 driven by the revenue growth and supported by prudent cost management , while continuing to invest in R & D and IT infrastructure Free cash flow excl . M & A was DKK 123 million in Q2 2021 compared to DKK -117 million in Q2 2020 , mainly driven by the recovery in revenue and earnings ● GN Audio continued the strong performance and delivered 32 % organic revenue growth in Q2 2021 , driven by double - digit growth in both the enterprise and the consumer segment EBITA increased by 30 % to DKK 532 million in Q2 2021 corresponding to an EBITA margin of 21.7 % . The EBITA margin development primarily reflects the strong topline development on top of continued investments in future growth opportunities ● Free cash flow excl . M & A was DKK 371 million in Q2 2021 compared to DKK 579 million in Q2 2020 driven by the growth in earnings , but offset by a strong development in net working capital in Q2 2020 GN Audio continues to work closely with suppliers of components to address demand Financial overview Q2 2021 Q2 2021 1,322 95 % 832 62.9 % 153 11.6 % GN Making Life Sound Better 123 80 % GN Hearing Q2 2020 Growth 715 85 % -54 % 1,264 332 151 % 46.4 % + 16.5 % p 51.5 % -336 ΝΑ 532 -47.0 % + 58.6 % p 21.7 % -117 ΝΑ Q2 2021 2,456 32 % +240 ΝΑ 371 70 % Interim Report Q2 2021 GN Audio Q2 2020 1,944 32 % 1,009 51.9 % 408 21.0 % Growth 26 % 25 % -0.4 % p 30 % + 0.7 % p -208 579 142 % -72 % p Q2 2021 Q2 2020 3,778 2,659 49 % -13 % 2,096 55.5 % Group total * 635 16.8 % 3.29 510 80 % 1,341 50.4 % 25 0.9 % 0.06 517 2,068 % Growth 42 % 56 % + 5.1 % p + 15.9 % p -7