Brief: Bang & Olufsen Q4 EBIT Up At DKK 11 Mln

Bang & Olufsen A/S

06/07/2022 08:04

July 6 (Reuters) - Bang & Olufsen A/S  BO.CO :
    * BANG & OLUFSEN ANNUAL REPORT 2021/22: SECOND YEAR WITH
DOUBLE-DIGIT GROWTH AND IMPROVED PROFITABILITY DESPITE HEADWINDS
    * Q4 EBIT DKK 11 MILLION VERSUS DKK 7 MILLION YEAR AGO
    * OUTLOOK 2022/2023: REVENUE GROWTH (IN LOCAL
CURRENCIES):-4% TO
5%
    * OUTLOOK 2022/2023: EBIT MARGIN BEFORE SPECIAL ITEMS:-2% TO
3%
    * OUTLOOK 2022/2023:  THE COMPANY EXPECTS NET WORKING
CAPITAL TO
DECLINE IN 2022/23
    * Q4 REVENUE DECLINED BY 10% (12% IN LOCAL CURRENCIES),
MAINLY
DRIVEN BY COVID-19 RELATED LOCKDOWNS IN CHINA AND HIGH
COMPARABLES
    * FY 2021/2022 REVENUE DKK 2,948 MILLION VERSUS DKK 2,629
MILLION
YEAR AGO
    * FREE CASH FLOW WAS NEGATIVE BY DKK 172M, WAS ADVERSELY
IMPACTED
BY EXTRA COMPONENT AND LOGISTICS COSTS AND EXTENDED COVID-19
LOCKDOWNS IN CHINA IN THE LAST MONTHS OF THE YEAR, WHICH LED TO
AN INCREASE IN WORKING CAPITAL FOLLOWING THE DELAY IN SALES AND
THE SUBSEQUENT INVENTORY INCREASE
    * Q4 REVENUE DKK 698 MILLION VERSUS DKK 776 MILLION YEAR AGO
    * FY FREE CASH FLOW WAS DKK -172M (FY 20/21: DKK 119M)

Source text for Eikon:  ID:nGNE35BZZZ 
Further company coverage:  BO.CO 

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