Brief: B&O Keeps FY 2022/23 Outlook But Now Sees Results At Lower End Of Range

Bang & Olufsen A/S

11/01/2023 07:12

Jan 11 (Reuters) - Bang & Olufsen A/S  BO.CO :
    * INTERIM REPORT FOR Q2 2022/23: BANG & OLUFSEN DELIVERED 6%
GROWTH AND A POSITIVE EBIT DESPITE MACROECONOMIC HEADWINDS
    * OUR AMERICAS REGION DELIVERED A RECORD QUARTER IN TERMS OF
REVENUE
    * OUR APAC REGION WAS, HOWEVER, SIGNIFICANTLY IMPACTED BY
COVID-RELATED LOCKDOWNS IN CHINA
    * WE MAINTAIN OUR OUTLOOK, BUT DUE TO MACROECONOMIC
DEVELOPMENT,
WE NOW EXPECT RESULTS TO BE AT LOWER END OF OUR RANGE - CEO
    * DUE TO ECONOMIC CLIMATE, COMPANY'S RETAIL PARTNERS
REMAINED
CAUTIOUS ABOUT REPLENISHING THEIR INVENTORIES
    * 2022/23 OUTLOOK IS SUBJECT TO UNUSUALLY HIGH UNCERTAINTY
RELATED
TO CONSUMER CONFIDENCE DUE TO HIGH INFLATION, RISING INTEREST
RATES, WAR IN UKRAINE
    * MAINTAIN OUTLOOK FOR FY 2022/23 BUT NOW EXPECT REVENUE
GROWTH,
EBIT MARGIN BEFORE SPECIAL ITEMS, FREE CASH FLOW TO BE AT LOWER
END OF RANGE

Source text for Eikon:  ID:nGNEbl5n4L 
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