- The Group’s turnover for the first quarter of the 2011/12 financial year was DKK 599 million against DKK 562 million for the same period last year, equating to a growth of 7 per cent.
- Result before tax for the first quarter was negative at DKK 33 million against a negative result last year of DKK 35 million.
- The result is negatively affected by DKK 6 million in severance provisions related to the organisational changes following the implementation of the new corporate strategy.
- The Group's gross margin for the first quarter of the 2011/12 financial year was 38.6 per cent against a gross margin of 40.0 per cent for the same period last year. The lower gross margin is primarily due to costs related to the termination of products.
- The Group’s turnover for the audio-video division for the first quarter of the 2011/12 financial year was DKK 480 million against DKK 457 million for the corresponding period last year, which equates to an increase of 5 per cent.
- The Automotive business area continued to advance in the first quarter of the 2011/12 financial year in that turnover totalled DKK 98 million against DKK 91 million for the same period last year.
- Bang & Olufsen maintains the expectations of a 2011/12 result before tax to be in the level of DKK 100 million based on a turnover level exceeding DKK 3,000 million.
Ole Andersen Tue Mantoni
Chairman President & CEO
Any enquiries about this announcement can be addressed to:
President & CEO Tue Mantoni, tel.: +45 9684 5000.
