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Q1 Trading Statement 2025/26: Bang & Olufsen reports a Q1 with record-high gross margin of 58.7%
Globenewswireยท 2025-10-09 06:12
Core Insights - The company reported a 4% decline in revenue in local currencies, attributed to lower sell-in as monobrand partners reduced inventories, despite achieving double-digit growth in company-owned stores and e-commerce [1][2] - The strategic transition is ongoing, focusing on investments in retail excellence, marketing, and product development to drive future growth [1][2] Financial Performance - Reported revenue decreased by 5.0% year-on-year to DKK 517 million, with a 4% decline in local currencies [6] - Gross profit increased to DKK 304 million, with a gross margin improvement of 3.5 percentage points to 58.7% [6] - EBITDA before special items was DKK 27 million, reflecting a margin of 6.5%, down from 7.1% [6] - EBIT before special items was DKK -27 million, with an EBIT margin of -5.2% [6] - Free cash flow was negative at DKK -135 million [6] Product Launch - The introduction of the new earpieces, Beo Grace, marks the beginning of celebrations for Bang & Olufsen's 100th anniversary, emphasizing the brand's commitment to beautiful sound and craftsmanship [3] Outlook - The financial outlook for FY 2025/26 has been maintained, with further details available in the Annual Report 2024/25 [4]