Bang & Olufsen a/s Reports Earnings Results for the Third Quarter and Nine Months Ended February 28, 2023
April 13, 2023 at 02:12 am EDT
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Bang & Olufsen a/s reported earnings results for the third quarter and nine months ended February 28, 2023. For the third quarter, the company reported sales was DKK 635 million compared to DKK 775 million a year ago. Net loss was DKK 55 million compared to DKK 16 million a year ago. Basic loss per share from continuing operations was DKK 0.5 compared to DKK 0.1 a year ago. Diluted loss per share from continuing operations was DKK 0.5 compared to DKK 0.1 a year ago.
For the nine months, sales was DKK 2,106 million compared to DKK 2,250 million a year ago. Net loss was DKK 152 million compared to DKK 5 million a year ago. Basic loss per share from continuing operations was DKK 1.2. Diluted loss per share from continuing operations was DKK 1.2.
Bang & Olufsen A/S is a Denmark-based company engaged in the design, development and marketing of audio and video equipment. The Company supplies primarily music systems, loudspeakers, television sets and multimedia products. Its activities are divided into two business areas: Business-to-Consumer (B2C) and Business-to-Business (B2B). The B2C area includes two segments: audiovisual (AV), offering audio and video products sold under the Bang & Olufsen brand; and B&O PLAY, which delivers stand-alone, portable products. The B2B business area also consists of Automotive segment, which comprises development, production and sale of sound systems for a range of cars, such as Aston Martin, Audi, BMW and Mercedes-Benz. Furthermore, the Company is parent of Bang & Olufsen Group, which operates worldwide.