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Bang & Olufsen A/S Lowers FY 2012/2013 Financial Guidance


Friday, 22 Mar 2013 03:00am EDT 

Bang & Olufsen A/S announced that during the third quarter of the 2012/2013 financial year, the Company has experienced a loss of momentum in the business, which has resulted in lower than expected revenue and an adverse impact on the profitability. The Company has therefore revised the revenue outlook for the 2012/2013 financial year from previously exceeding the 2011/2012 financial year revenue of DKK 3,008 million to revenue in the range of between DKK 2,800 million and DKK 2,900 million. The gross margin for the 2012/2013 financial year is now expected to be at the same level as the financial year 2011/2012. The lower expected revenue will adversely impact EBIT. The outlook for EBIT is revised from a positive EBIT margin to a negative EBIT in the range of between DKK 150 million and DKK 200 million for the 2012/2013 financial year. The Company reported financial year 2011/2012 gross margin of 40.42%. According to I/B/E/S estimates, analysts on average are expecting the Company to report financial year 2012/2013 revenue of DKK 3,098.82 million, financial year 2012/2013 gross margin of 42.50% and financial year 2012/2013 EBIT of DKK 60.63 million. 

Company Quote

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23 Dec 2014