Luxury TV and stereo maker B&O reports full year operating loss, keeps outlook

Bang & Olufsen A/S

07/07/2020 07:41

COPENHAGEN, July 6 (Reuters) - Danish television and stereo
maker Bang & Olufsen  BO.CO  reported a 29% drop in full-year
revenue to 2.036 billion Danish crowns ($309.08 million) on
Tuesday, although it added it expects sales to increase slightly
next year.
    Bang & Olufsen, whose most exclusive speakers cost up to
$80,000, saw a 347 million crown loss in earnings before tax and
interest (EBIT) of this year, in line with its own forecast but
15% lower than a profit of 59 million last year.
    It said it expects revenue increase to 2.2 billion Danish
crowns next year. 

($1 = 6.5937 Danish crowns)

 (Reporting by Andreas Mortensen)
 ((andreas.mortensen@thomsonreuters.com; +45 33 96 96 75;))