Demant upgrades financial guidance again despite October's implant issues

Danish hearing giant Demant, which upgraded its financial guidance for the full year in August, has released an interim management statement covering the period year-to-date, in which the company has raised its financial expectations for 2021 in spite of having to recall cochlear implants a little over two weeks ago.

Photo: Jens Dresling/Politiken/Ritzau Scanpix

BY ALBERT RØNNING-ANDERSSON, TRANSLATED BY CATHERINE BRETT AND DANIEL PEDERSEN

Published: 02.11.21 at 07:38

It was a wakeup call and an economic blow when hearing aid manufacturer Demant's surgical arm Oticon Medical had to recall a number of cochlear implants in addition to halting the further production of the devices in mid October.

Nonetheless, Demant's other divisions have continued their forward momentum in the year's first tenth months – with so much speed that the Danish company has upgraded its already raised expectations for the full year, which were adjusted in the half-year report in August.

Already a subscriber? Log in.