B&O climbs on 'better-than-feared' Q2

Bang & Olufsen A/S

11/01/2023 09:07

** Shares in Bang & Olufsen  BO.CO  rise 5.8% after the
Danish audio and video equipment maker reported a
better-than-expected revenue growth for Q2
    ** The company posted quarterly revenue of DKK 859 mln
($124.02 mln), constituting a 6% revenue growth, or 2% in local
currencies
    ** "Taking into account the economic slowdown and lockdowns
in China, the turnover is significantly better than feared,"
Nordnet analyst Per Hansen says
    ** He adds that while the coming quarters will be
challenging, "B&O does whatever is possible, and possibly even a
little more"
    ** The company maintains its outlook for the financial year
2022/23, but now sees its revenue growth, EBIT margin before
special items, and free cash flow at the lower end of its range
($1 = 6.9261 Danish crowns)
 (Reporting by Louise Breusch Rasmussen)
 ((Louisebreusch.rasmussen@thomsonreuters.com))