B&O achieves 6-Year high profit

Danish firm Bang & Olufsen reports a six-year high operating profit of 61 million DKK, despite a revenue dip to 2.6 billion DKK, down by 6% year-over-year. This marks a substantial recovery from the previous year’s 105 million DKK loss. CEO Kristian Teär highlights the record-high gross margin and indicates the positive impact of efforts to establish a solid financial base for the future. The strategy focuses on enhancing brand recognition and cementing a position in the luxury market, which calls for further investment, with a capital raise up to 20% of company equity being pursued. Growth expectations for 2024/25 are conservative, with revenue projected to change by -3% to +3% and operating results to vary by 2% below to 1% above the current year’s outcome. Founded in 1925, B&O, known for high-end electronics, has faced financial challenges in recent years but released its annual report earlier than expected.