Business
Annual report 2024/25: Bang & Olufsen reports a year of transition, achieving record-high gross margin, positive operating profit, and strengthened branded channel performance
Bang & Olufsen ended the year with 4% revenue growth in Q4 and a 1% decline in local currencies for the full year, bringing total revenue to DKK 2.6bn. The gross margin continued to increase, reaching a record-high 55.8% in Q4, and 55.0% at year end. For the full year, the EBIT margin before special items was 1.0%, and free cash flow amounted to DKK 16m. Overall, the results were in line with plans and aligned with the outlook for the year. "During our 2024/25 financial year, we set solid founda
About this update from Bang & Olufsen A/s
[{"type":"text","content":"Bang & Olufsen ended the year with 4% revenue growth in Q4 and a 1% decline in local currencies for the full year, bringing total revenue to DKK 2.6bn. The gross margin continued to increase, reaching a record-high 55.8% in Q4, and 55.0% at year end. For the full year, the EBIT margin before special items was 1.0%, and free cash flow amounted to DKK 16m. Overall, the results were in line with plans and aligned with the outlook for the year.","length":448,"tagName":"p"},{"type":"text","content":""During our 2024/25 financial year, we set solid foundations by achieving a record-high gross margin, positive operating profit and improving our branded channel performance. The focus on our retail experiences, product portfolio, marketing and win cities have made a positive impact and will continue to be a priority, as we further strengthen our leadership position in the global luxury audio market. While we remain mindful of market uncertainties, we are excited and confident as we look ahead to celebrating Bang & Olufsen’s 100th anniversary later this year. To mark our centenary milestone, we will be honouring our heritage and shaping the path ahead, as we step into B&O’s second century at the forefront of luxury audio."","length":750,"tagName":"p"},{"type":"text","content":"Kristian Teär, CEOFinancial highlights, FY 2024/25 (2023/24 in brackets)","length":74,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Like-for-like sell-out grew by 4% (3%). Like-for-like sell-out for Branded channels grew 9% (-2%).","length":98,"tagName":"p"}]},{"val":[{"type":"text","content":"Revenue declined by 1.4% (-6.0%) year-on-year, or -1% in local currencies (-5%), to DKK 2,553m(DKK 2,588m).","length":108,"tagName":"p"}]},{"val":[{"type":"text","content":"Revenue from Branded channels increased by 3% (0%), or 2% in local currencies (1%).","length":83,"tagName":"p"}]},{"val":[{"type":"text","content":"Gross margin was up by 1.7pp to 55.0% (53.3%).","length":46,"tagName":"p"}]},{"val":[{"type":"text","content":"EBITDA before special items was DKK 271m (DKK 300m), EBITDA margin before special items of 10.6% (11.6%).","length":105,"tagName":"p"}]},{"val":[{"type":"text","content":"EBIT before special items was DKK 26m (DKK 61m). EBIT margin before special items of 1.0% (2.4%).","length":97,"tagName":"p"}]},{"val":...