Demant A/S Capital Markets Day Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Oliver Metzger - ODDO BHF Corporate & Markets - Analyst : Oliver Metzger from ODDO BHF. Two questions I have. First is on the penetration rate. So for many, I would say, even decades, it was 1 quarter. So basically, it means 1 of 4 people use hearing aids. Now you become a little bit more optimistic, you see some positive trends. Can you talk about the dynamics? Is it more innovation, the access, or what do you see as a driver for this increased penetration? Second question is on Diagnostics. Also for many years, you had some higher value growth than volume growth. And where do we stand? Going forward, do you still see potential to upgrade the technology that also your customers are willing to pay more for the solution?

Question: Oliver Metzger - ODDO BHF Corporate & Markets - Analyst : It's Oliver Metzger from ODDO BHF. Two questions. So the first one is about, can you elaborate about the synergies in R&D. So some fundamental innovations were basically set with the launch of Opn device 6 years ago. The technological progress we received from there is there, but the fundamentals are still the same. So are there any synergies in this process from platform to platform? And the second question is basically linked as to my first one. So if you look for such a shift in paradigm from, let's say, this beam to the omnipresent. You mentioned between 2010 and were 6 years for developing this technology. Could you say if you now reach some limitation of the current approach, does it take again for you or somebody else, 6 years to build up such a complete new solution from scratch?

Question: Oliver Metzger - ODDO BHF Corporate & Markets - Analyst : It's Oliver Metzger from ODDO BHF. So from a U.S. market share perspective, you've described over the last 10 years, every year, 90 basis points market share gain. There are no really low-hanging fruits, but if you want to become the #1 in the U.S. over say, multiple years, where do you see the strongest group basically contributing to this objective.

Question: Oliver Metzger - ODDO BHF Corporate & Markets - Analyst : Oliver Metzger from ODDO BHF. One question on retail purchase multiples. So you have your key three countries where you basically your strongest external growth ambitions. So can you comment how retail markets have changed over the years, in particular also in Germany where basically many players want to acquire? And in this context, what's the trade-off between the greenfield openings and the acquisition of retail?

Question: Oliver Metzger - ODDO BHF Corporate & Markets - Analyst : But do you see prices go up? Also, say, the interest rate environment has changed over the years. without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. MARCH 12, 2024 / 10:00AM, DEMANT.CO - Demant A/S Capital Markets Day

Question: Oliver Metzger - ODDO BHF Corporate & Markets - Analyst : Yes.