Bang & Olufsen: posts growth, targets confirmed, stock downd

(CercleFinance.com) - Bang & Olufsen announced on Wednesday that it had managed to post a fifth consecutive quarter of double-digit growth, despite the component shortages that are affecting its sector.


The Danish upmarket electronics manufacturer reported a 15% increase in sales in local currencies for its Q2 this morning.

Sales rose by 22%, driven in particular by sound bars and televisions.

Ebit before exceptional items was 28 million Danish kronor, representing a margin of 3.5%.

B&O confimed its forecast of annual sales of 2.9 to 3.1 billion Danish kronor for FY 2021-2022, with an operating margin of between 2% and 4%.

Even so, the stock fell over 7% in Copenhagen after these figures were released.


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