Demant · Annual Report 2020 Front page photo from Oticon More campaign In 2020, Oticon launched the new flagship product Oticon More, which processes and balances the full sound scene to give people with a hearing loss access to all relevant sounds. Changes to reporting structure In this Annual Report 2020, we have made several changes to our reporting structure to further enhance transparency in the value created by each of our different business areas. • The changes include disclosing separate income statements to the EBIT level for two business segments: & Co. KG. Due to the previous set-up as a joint venture, there are no comparative figures to report for 2019. • We have changed the descriptive name of our hearing aid wholesale business to Hearing Aids. At the same time, the name of our hearing aid retail business has been changed to Hearing Care. Hearing Healthcare comprises four business areas: Hearing Aids, Hearing Care, Hearing Implants and Diagnostics. Communications comprises only our headset business, which operates under the EPOS brand. This business was fully consolidated in the Group’s financial statements with financial effect from 1 January 2020 as a result of the demerger of Sennheiser Communications, our 50/50 joint venture with Sennheiser electronic GmbH • We now report revenue separately for each of our Hearing Aids and Hearing Care business areas (as well as separate growth rates, as we have also done historically). • We no longer report growth rates separately for our cochlear implants and bone anchored hearing systems businesses but only a growth rate for Hearing Implants as a whole. 2
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