B&O Predicts Revenue Decline in Revision

Bang & Olufsen has adjusted its full-year revenue outlook, now expecting a decrease of 5-8% instead of the previously forecasted 0-9% growth, due to worse-than-expected macroeconomic conditions in Europe and China. The revision follows preliminary third-quarter results, indicating a 7% revenue drop to DKK 1.933 billion for the first nine months of the fiscal year. However, the gross profit improved by DKK 140 million, topping DKK 1 billion, and the operating profit before special items turned from a significant deficit into a DKK 48 million surplus. Despite the adjusted forecast, B&O still plans to launch two product innovations in the fourth quarter ending May 31, 2023. A complete quarterly report is scheduled to be presented on April 10.