GN Making Life Sound Better
Creating shareholder value through efficient capital structure
During 2017-2021, GN was below its long-term leverage
target of 2.0x with strong cash flow generation being used
for shareholder distribution through share buybacks and
dividends
With the signing of the SteelSeries acquisition in October
2021, GN paused the ongoing share buyback program
In connection with the Annual General Meeting in March
2022 it was decided to pay out a dividend of DKK 214
million in respect of the fiscal year 2021
Following the closing of the SteelSeries acquisition, GN's
leverage increased to 5.9x by Q3 2022
GN has initiated a comprehensive review into the
appropriate capital structure for the medium term and will
update the market together with the release of full-year
2022 results
Shareholder distribution
DKKm
1,443
1,500
1,392
1,354
1,168
1,000
500
356
214
0
2017
2018
2019
2020
2021
2022
Share buyback
Dividends
1.6x
Development of leverage ratio
1.5x
2.0x
1.8x
1.8x
5.9x
GN Making Life Sound Better
42
2017
2018
2019
2020
2021
Q3 2022
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