Christian Ryom's questions to GNNDY leadership • Q1 2024
Question
Questioned the strong Enterprise gross margin for any exceptional items, the size of the pension provision reversal in Hearing, and how to reconcile the flat growth in Gaming & Consumer with the reported mid-single-digit growth in its core categories.
Answer
The Enterprise gross margin strength was not due to one-offs but a combination of good product mix, cost normalization, and synergies. The pension provision reversal in Hearing was about 2% of the division's top line. The flat result in Gaming & Consumer is because the growth in core categories (SteelSeries, true wireless) was offset by declines in non-strategic products and the BlueParrott range.