Bang & Olufsen AS (STU:BUOB)
€ 1.198 -0.004 (-0.33%) Market Cap: 146.83 Mil Enterprise Value: 155.81 Mil PE Ratio: 0 PB Ratio: 1.16 GF Score: 69/100
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Q3 2023 Bang & Olufsen A/S Earnings Call Transcript

Apr 13, 2023 / 08:00AM GMT
Release Date Price: €1.2 (-2.75%)
Operator

Welcome to the Bang & Olufsen a/s Interim Report for the Third Quarter 2022/'23. (Operator Instructions) This call is being recorded.

Today, I'm pleased to present CEO, Kristian Tear; and CFO, Nikolaj Wendelboe. Speakers, please begin.

Kristian Tear;s;CEO;Member of the Executive Board
Bang & Olufsen a

/-&

Hello, everyone, and thank you for joining the call. With me, as you heard, as always, I have my CFO, Nikolaj Wendelboe.

So I will begin with the financial highlights of our third quarter, followed by an update on how we are progressing with our strategy and our priorities. Nikolaj will take us through the financials in more detail, and I will conclude the presentation part before opening up for questions.

So if we please move to Slide #5. Revenue declined by 18% or 20% in local currencies. We had expected impact from the current macroeconomic headwinds, but we had not foreseen the development in China after the change in COVID-19 policy in the beginning of December. The

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