Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Denmark
  4. Nasdaq Copenhagen
  5. Bang & Olufsen a/s
  6. News
  7. Summary
    BO   DK0010218429

BANG & OLUFSEN A/S

(BO)
  Report
Delayed Nasdaq Copenhagen  -  11:59:40 2023-03-24 am EDT
9.070 DKK   -5.77%
03/23Bang & Olufsen A/s : & Olufsen and SuperRare in new NFT art collaboration
PU
03/17Bang & Olufsen shares drop after disappointing China sales
RE
03/17Bang & Olufsen releases preliminary Q3 numbers and adjusts outlook due to lower than expected sales in China
GL
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Bang & Olufsen shares drop after disappointing China sales

03/17/2023 | 11:01am EDT
FILE PHOTO: A name of Bang & Olufsen is pictured on a device in a shop in Warsaw

STOCKHOLM (Reuters) - Shares in Bang & Olufsen plummeted 11% on Friday after the Danish audio and video equipment maker reported a preliminary operating loss for the third quarter and lowered its full-year profit outlook due to disappointing sales in China.

The company posted an operating loss before special items for the third quarter of 43 million Danish crowns ($6.14 million) between December to February.

The company also said it now expects EBIT margin before special items for the full financial year ending May 31 in the range of -4% to -1%. It had previusly guided it would end at the lower end of -2% to 3% range.

"Sales in China did not progress as expected after the reopening because of all the challenges with COVID-19," Chief Executive Kristian Teär said in a statement.

"When the country suddenly abandoned most of the restrictions in December, we did not expect this negative development in consumer behaviour," he said.

Sales in China declined by 65% in the third quarter, the company said.

B&O said it expects better market conditions in China in the fourth quarter, but still at a slower pace than initially expected.

Shares in B&O were trading 11% lower by 1513 GMT, headed for their biggest daily decline since December 2019.

($1 = 7.0022 Danish crowns)

(Reporting by Anna Ringstrom, Editing by Jacob Gronholt-Pedersen)


ę Reuters 2023
All news about BANG & OLUFSEN A/S
03/23Bang & Olufsen A/s : & Olufsen and SuperRare in new NFT art collaboration
PU
03/17Bang & Olufsen shares drop after disappointing China sales
RE
03/17Bang & Olufsen releases preliminary Q3 numbers and adjusts outlook due to lower than ex..
GL
03/17Bang & Olufsen Provides Preliminary Earnings Guidance for the Year Ending on 31 May 202..
CI
03/09Bang & Olufsen A/s : & Olufsen and SuperRare in new NFT art collaboration
PU
02/13Bang & Olufsen A/s : & Olufsen and Scuderia Ferrari partner to create immersive Formula 1 ..
PU
01/11Transcript : Bang & Olufsen a/s, Q2 2023 Earnings Call, Jan 11, 2023
CI
01/11Bang & Olufsen A/s : Webcast presentation Q2 2022/23
PU
01/11Interim Report For Q2 2022/23 : Bang & Olufsen delivered 6% growth and a positive EBIT des..
GL
01/11Bang & Olufsen a/s Provides Earnings Guidance for the Financial Year 2022-23
CI
More news
Financials
Sales 2023 2 797 M 404 M 404 M
Net income 2023 -118 M -17,0 M -17,0 M
Net cash 2023 35,4 M 5,11 M 5,11 M
P/E ratio 2023 -9,45x
Yield 2023 -
Capitalization 1 085 M 157 M 157 M
EV / Sales 2023 0,38x
Capi. / Sales 2024 0,36x
Nbr of Employees 1 048
Free-Float 82,0%
Chart BANG & OLUFSEN A/S
Duration : Period :
Bang & Olufsen a/s Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BANG & OLUFSEN A/S
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 9,07 DKK
Average target price 13,50 DKK
Spread / Average Target 48,8%
EPS Revisions
Managers and Directors
Kristian Tear Chief Executive Officer
Nikolaj Wendelboe Chief Financial Officer & Executive VP
Juha Christen Christensen Chairman
Jesper JarlbŠk Independent Director
Anders Colding Friis Independent Director
Sector and Competitors
1st jan.Capi. (M$)
BANG & OLUFSEN A/S10.48%157
SONY GROUP CORPORATION15.55%109 494
PANASONIC HOLDINGS CORPORATION1.89%20 205
LG ELECTRONICS INC.32.02%14 811
SHARP CORPORATION-0.11%4 689
SHENZHEN MTC CO., LTD.35.24%3 210
MarketScreener: Created by Investors for Investors!
100% Free Registration
fermer