Brief: Bang & Olufsen Q3 EBIT Down At DKK 1 mln

Bang & Olufsen A/S

07/04/2022 07:22

April 7 (Reuters) - Bang & Olufsen A/S  BO.CO :
    * REG-BANG & OLUFSEN INTERIM REPORT Q3 2021/22: BANG &
OLUFSEN
ACHIEVED DOUBLE-DIGIT GROWTH FOR THE SEVENTH CONSECUTIVE QUARTER
    * OUTLOOK MAINTAINED
    * Q3 REVENUE DKK 775 MILLION VERSUS DKK 698 MILLION YEAR AGO
    * COMPANY MAINTAINS OUTLOOK FOR FINANCIAL YEAR 2021/22, BUT
DUE TO
HIGHER COMPONENT COSTS, COMPANY NOW EXPECTS EBIT MARGIN BEFORE
SPECIAL ITEMS AND FREE CASH FLOW TO BE IN LOW END OF RANGE
    * Q3 EBIT DKK 1  MILLION VERSUS DKK 28 MILLION YEAR AGO
    * OUTLOOK 2021/2022: DKK 2.9BN TO DKK 3.1BN
    * OUTLOOK 2021/2022: REVENUE:DKK 2.9BN TO DKK 3.1BN
    * OUTLOOK 2021/2022: EBIT MARGIN BEFORE SPECIAL ITEMS:2-4%
    * OUTLOOK 2021/2022: FREE CASH FLOW:DKK 0M TO DKK 100M
    * OUTLOOK IS BASED ON CERTAIN ASSUMPTIONS, INCLUDING CEASING
OPERATIONS IN RUSSIA AND BELARUS SINCE 24 FEBRUARY 2022
    * OUTLOOK IS SUBJECT TO INCREASED UNCERTAINTY RELATED TO
SUPPLY
CHAIN AND CONSUMER DEMAND DUE TO HIGHER INFLATION, WAR IN
UKRAINE AND COVID-19 LOCKDOWNS IN CHINA.
    * COMPANY EXPECTS HIGH LEVEL OF COMPONENT AND LOGISTICS
COSTS
EXPERIENCED IN Q3 TO CONTINUE THROUGHOUT REMAINDER OF FINANCIAL
YEAR, IMPACTING EARNINGS AND FREE CASH FLOW NEGATIVELY.

Source text for Eikon:  ID:nGNE9GGVCt 
Further company coverage:  BO.CO 

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