Bang & Olufsen releases preliminary Q3 numbers and adjusts revenue outlook for the financial year. Positive earnings expected for the full year despite lower revenue - Seite 2

Revenue growth in local currencies:	-8% to -5% (Previously in the lower end of 0% to 9%)
EBIT margin before special items:	0% to 2% (Previously 0% to 6%)
Free cash flow:	DKK -50m to DKK 10m (Previously in the lower end of DKK -50m to DKK 100m)

The outlook is subject to uncertainty related to consumer sentiment. In addition, geopolitical uncertainty has increased. The pace of the economic recovery in China is also subject to uncertainty.

The outlook is further subject to the following assumptions:

• No worsening of market situation in China for the remainder of the fiscal year (previously improved market conditions in China in H2 23/24).
• No worsening of macroeconomic conditions in Europe and US for the remainder of the fiscal year (previously macroeconomic conditions in Europe and the US will improve during the fiscal year).
• Timely launch of two product innovations in fiscal Q4.
• No impact on product availability due to geopolitical changes.
• Exchange rates against DKK, including in particular USD, CNY and EUR, in line with current exchange rate levels, overall.
• No upward pressure on component and logistics costs.

The company will release its quarterly financial report for 9M 2023/24 on 10 April 2024 as planned.

For further information, please contact:

Cristina Rønde Hefting        
Director, Investor Relations        
Phone: [phone]        

Jens Gamborg
Head of Global Sustainability & Communications
Phone: [phone]

Attachment

• BO_2310_company announcement_UK