(CercleFinance.com) – Bang & Olufsen announced on Wednesday an increase in its results for its third quarter 2023-2024, despite a more marked contraction than expected in its sales over the period.
Its gross operating surplus (Ebit) thus stood at 11 million crowns (around 1.5 million euros) over the three months ended at the end of February, compared to a loss of 43 million a year ago.
Its gross margin increased to reach a record level of 53.2%, an increase of almost 0.1 percentage point from one year to the next.
The Danish high-end electronics manufacturer says it has benefited from firm pricing and the recent trend toward standardization of component costs and logistics transportation.
B&O, which on the other hand says it has not seen any improvement in its business conditions in Europe or China, saw its quarterly sales fall by 3%, both in published data and at constant exchange rates.
In its press release, Bang & Olufsen now states that it expects a decline of 5% to 8% in local currencies in its annual turnover, accompanied by an operating margin (Ebit) of between 0% and 2% before items. exceptional.
Listed on the Copenhagen Stock Exchange, its stock rose slightly (+1.3%) following this publication.
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