Bang & Olufsen: Turns up volume on growth, shares soar

Bang & Olufsen A/S

16/12/2020 08:53

** Shares in Bang & Olufsen  BO.CO  up 20% after the Danish
luxury TV and stereo maker increased its 2020 financial outlook
 urn:newsml:reuters.com:*:nASN000N1H
    ** It now sees the revenue outlook for 2020/21 at DKK
2.3-2.5 bln, up from previously about DKK 2.2 ($359.71 mln)
    ** Whilst EBIT and free cash flow are now seen between DKK
-50 mln to +25 mln and DKK -50 mln to +100 mln respectively
    ** The company says H1 was better than expected thanks to
seven successful product launches and higher consumer demand for
home entertainment products among others
    ** Nordnet says this upside may not be the only one, expects
another one in the spring
    ** "The combination of a positive revenue development and
cost efficiencies is a very effective cocktail," Nordnet adds
    ** Shares up 100% so far this year


($1 = 6.1160 Danish crowns)

 ((Tommyalexander@lund@thomsonreuters.com))