Bang & Olufsen a/s : Webcast presentation Q1 2022/23
October 05, 2022 at 02:22 am
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October 2022
Q1 2022/23
Webcast presentation
Disclaimer
This presentation does not constitute or form part of and should not be construed as an offer to sell or issue or the solicitation of an offer to buy or acquire securities issued by Bang & Olufsen a/s in any jurisdiction, including the United States of America, Canada, Australia, Japan or the United Kingdom, or an inducement to enter into investment activity in any jurisdiction.
This presentation contains forward looking statements. Such statements concern management's current expectations, beliefs, intentions or strategies relating to future events and hence involve substantial risks and uncertainties. Actual future results and performance may differ materially from those contained in such statements. This presentation does not imply that Bang & Olufsen a/s has undertaken to revise these forward-looking statements, except what is required under applicable law or stock exchange regulation.
No part of the information contained in this presentation should form the basis of or be relied upon in connection with any contract or commitment or investment decision whatsoever. Neither Bang & Olufsen a/s nor any of its affiliates, advisors or other representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents.
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Agenda
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Key Highlights and Strategy Update
Financial Performance in Q1
Outlook
Q&A
Key Highlights and Strategy Update
Challenging macroeconomic environment continued in Q1 22/23. Outlook maintained but uncertainty remains high
Robust demand driven by travel and outdoor-related
• Revenue declined 8.2% (-10% in local currencies)
Product sales declined by 16% in local currencies mainly impacted by lockdowns in
China and lower partner inventories
>
EBIT margin
• Brand Partnering & Other activities grew 44% in
bsi*
local currencies, driven by new partnerships
Decline in EBIT margin bsi* and free cash flow due to lower gross profit
• Outlook maintained, but uncertainty remains high
Free cash flow
Adjusting strategic priorities to mitigate effects of higher uncertainty and lower consumer confidence
Q1
Outlook
2022/23
FY 2022/23
-10%
-4% to 5%
in LC**
growth in LC**
DKK 612m
-14.1%
-2% to 3%
(EBIT bsi* DKK -85m)
DKK
DKK
-81m
-50m to 100m
5 |* Before special items ** local currencies
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Bang & Olufsen A/S published this content on 05 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 October 2022 06:21:09 UTC.
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.
BANG & OLUFSEN A/S 
