Bang & Olufsen slides after 'insufficient' Q3 earnings

Bang & Olufsen A/S

07/04/2022 08:32

** Shares in Bang & Olufsen  BO.CO  fall 3.1% after its Q3
operating profit slumped from a year earlier
    ** The company's Q3 EBIT before special items was DKK 1 mln
($146,767.45) vs. DKK 28 mln last year  urn:newsml:reuters.com:*:nASM0006WV
    ** Nordnet analyst Per Hansen says the report shows
reasonable sales development, but "disappointing, low and
insufficient" earnings 
    ** "Unfortunately, teasing high component prices and the
excessive costs of transporting goods around the world to
customers also continue to prevent B&O from delivering
satisfactory bottom-line results," he adds
    ** The group maintains outlook for 2021/22 fiscal year, but
says it expects EBIT margin to be at the low end of its 2-4%
range
    ** "As an investor, a '2-4% EBIT margin' is not sufficient
or attractive," Hansen says

($1 = 6.8135 Danish crowns)

 (Reporting by Agnieszka Gosciak)
 ((agnieszka.gosciak@thomsonreuters.com))