A marked decline in sales in Europe and north America depressed the results of Bang & Olufsen in the third quarter, as the company itself describes as unsatisfactory.
Sales fell overall by 18 percent in the third quarter to 710 million dollars.
It covers over a plunge of 26 percent in Europe and 24 percent. In Asia is the decline limited to five percent.
It shows the accounts from Bang & Olufsen, known for tv, audio system, speakers and headphones,
Already in the last week came the Bang & Olufsen with the preliminary figures, and downgraded expectations.
the main figures are the same in Thursday’s financial statements, where there are given further details about the results.
– It was a challenging third quarter, which resulted in a decrease in revenue of 18 percent, says ceo Henrik Clausen in a comment to the financial statements.
– The ongoing transformation of our sales and distribution network and a lower-than-expected revenue from the Staged-category (tv, red.) were the main factors that contributed to the decline, he says.
Although sales have gone back, B&O, however, patterns a profit of 15 million dollars. This is a decrease from 26 million the year before.
the outlook for sales was last week revised down. B&O is waiting for now, that sales will decline ten percent in the year compared with the year before.
At the beginning of the year, the company had predicted an increase of ten percent, but the forecast has been cut two times.
