Bang & Olufsen A/s · OMXCOP:BO
Bang & Olufsen A/s — Q4 2026 Earnings Presentation
16 slides from Bang & Olufsen A/s's earnings presentation, Jul 2, 2026
Slide 1: Webcast Presentation FY 2025/26
Webcast Presentation FY 2025/26
Slide 2: Disclaimer
WEBCAST PRESENTATION – Q4 2025/26 Disclaimer This presentation does not constitute or form part of and should not be construed as an offer to sell or issue or the solicitation of an offer to buy or acquire securities issued by Bang & Olufsen a/s in any jurisdiction, including the United States of Am
Slide 3: Highlights: Revenue growth negative 1.6%, record gross margin 58.2%
WEBCAST PRESENTATION – Q4 2025/26 Highlights | Revenue growth in local currencies of negative 1.6%, record-high gross margin at 58.2% while EBIT margin bsi was negative at 0.5% Q4 2025/26 FY 2025/26 • Full year like-for-like sell-out growth of 4%, with branded channels up 5%, Revenue DKK 654m DKK 2,
Slide 4: We grew our product portfolio for both travel and home
WEBCAST PRESENTATION – Q4 2025/26 We grew our product portfolio for both travel and home Beo Grace Beosound Premiere Reloved Beosound Haven Launched in November 2025, Beo Grace performed in Announced in November 2025, Premiere initially sold Launched in October 2025, Reloved offers certified Expecte
Slide 5: We celebrated our centenary year, improving brand awareness across markets
WEBCAST PRESENTATION – Q4 2025/26 We celebrated our centenary year, improving brand awareness across markets London, Harrods New York, Times Square Shanghai, Sheng Garden Partnerships, collabs and limited editions broadened our audience across design, +60% 1m+ 10,000+ music, fashion, sport and motor
Slide 6: We concentrated investments to build a leaner, higher-quality retail network
WEBCAST PRESENTATION – Q4 2025/26 We concentrated investments to build a leaner, higher-quality retail network of flagship destinations in key cities New flagship destinations in Eight straight quarters of double- An elevated, more consistent store A leaner, higher-quality footprint priority cities
Slide 7: We are refocusing strategic execution to drive sustainable, long-term profitable growth
WEBCAST PRESENTATION – Q4 2025/26 We are refocusing strategic execution to drive sustainable, long-term profitable growth Evolving our go-to- Revising product Reshaping brand Cost management and 1. 2. 3. 4. market model development and retail efficiency measures • Coordinated marketing, retail • Str
Slide 8: Financial performance in Q4 & Outlook 26/27
WEBCAST PRESENTATION – Q4 2025/26 WEBCAST PRESENTATION – Q4 2025/26 Financial performance in Q4 & Outlook 26/27
Slide 9: Sell-out Growth: like-for-like sell-out growth of 11%
WEBCAST PRESENTATION – Q4 2025/26 Sell-out Growth | Like-for-like sell-out growth of 11% driven by double-digit growth in APAC. Win City sell-out growth of 20% Group Regions Win Cities Regions • EMEA: Branded channels reported single-digit growth. Multibrand and eTail saw a double- 4% digit sell-out
Slide 10: Continued gross margin expansion and EBIT margin improvement despite revenue decline
WEBCAST PRESENTATION – Q4 2025/26 Continued gross margin expansion and EBIT margin improvement, despite revenue decline of 3.1% in local currencies Group revenue Gross margin EBIT margin before special items DKKm % % +2.9pp +4.7pp -3.8% (LC: -3.1%) 698 680 58.7 58.7 5.7 676 654 57.9 57.5 631 621 55.
Slide 11: Revenue from product sales declined by 2.7% in local currencies
WEBCAST PRESENTATION – Q4 2025/26 Revenue from product sales declined by 2.7% in local currencies, driven by EMEA and Americas while APAC saw growth. Continued margin expansion across regions EMEA Americas APAC Brand Partnering & other activities DKKm DKKm DKKm DKKm -11.8% (LC: -11.9%) -9.1% (LC: -5
Slide 12: Net working capital increased while capital resources grew
WEBCAST PRESENTATION – Q4 2025/26 Net working capital increased on lower payables and tariff refund timing, while capital resources grew during the quarter Net working capital Free cash flow Capital resources DKKm DKKm DKKm +79 30 600 +1 22 349 18 532 316 +32 282 289 5 448 270 4 250 255 319 299 294
Slide 13: We are actively managing a demand and supply shift in the memory chip market
WEBCAST PRESENTATION – Q4 2025/26 We are actively managing a demand and supply shift in the memory chip market MARKET CONSTRAINTS Memory chips (DDR4 RAM) are currently facing critical supply constraints due to; • Demand growth from AI and data centre applications • Suppliers scaling back or ceasing
Slide 14: Outlook for 2026/27
WEBCAST PRESENTATION – Q4 2025/26 Outlook for 2026/27 Revenue growth Free cash flow Local currencies EBIT margin bsi* DKK 1% to 5% 1% to 3% 25m to 100m CAPEX is expected to be in the range of DKK 270-310m. The expected year-on-year increase is driven by retail investments and product development. Ca
Slide 15: Nikolaj Wendelboe
WEBCAST PRESENTATION – Q4 2025/26 Nikolaj Wendelboe 15
Slide 16: Investor relations contact
WEBCAST PRESENTATION – Q4 2025/26 Investor relations contact Cristina Rønde Hefting +45 41 53 73 03 crrh@bang-olufsen.dk 16