Brief: Bang & Olufsen Q1 Gross Profit Up At DKK 299 Mln

Bang & Olufsen A/S

06/10/2021 07:08

Oct 6 (Reuters) - Bang & Olufsen A/S  BO.CO :
    * REG-BANG & OLUFSEN INTERIM REPORT Q1 2021/22: POSITIVE
EBIT
MARGIN AND FREE CASH FLOW DRIVEN BY 44% REVENUE GROWTH
    * COMPANY MAINTAINS OUTLOOK FOR FINANCIAL YEAR 2021/22
    * CUSTOMER BASE GREW BY 7.5% IN Q1 AND COMPANY EXPECTS TO
CONTINUE
POSITIVE TRAJECTORY THROUGHOUT YEAR.
    * Q1 GROSS PROFIT WAS DKK 299M (Q1 20/21: DKK 198M).
    * Q1 REVENUE GREW 44% IN LOCAL CURRENCIES, ACROSS ALL
REGIONS AND
PRODUCT CATEGORIES.
    * Q1 EBIT WAS DKK 7M (Q1 20/21: DKK -49M).
    * Q1 EARNINGS FOR PERIOD WERE A PROFIT OF DKK 1M (Q1 20/21:
LOSS
OF DKK 49M).
    * COMPONENT SHORTAGES REMAINED A CHALLENGE AND HAD A
NEGATIVE
IMPACT ON BOTH GROWTH AND MARGINS.
    * COMPANY'S SOURCING TEAM HAS CONTINUED TO SUCCESSFULLY
SECURE
COMPONENTS, BUT THERE ARE STILL LONGER DELIVERY TIMES ON
SPECIFIC PRODUCTS - ESPECIALLY WITHIN STAGED CATEGORY.
    * FOR FIRST TIME SINCE FINANCIAL YEAR 2007/08, BANG &
OLUFSEN
DELIVERED A Q1 WITH BOTH POSITIVE EBIT BEFORE SPECIAL ITEMS AND
POSITIVE FREE CASH FLOW.

Source text for Eikon:  ID:nGNE2SrKHC 
Further company coverage:  BO.CO 

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