Bang & Olufsen A/s · OMXCOP:BO
Bang & Olufsen A/s — Q1 2009/10 Earnings Presentation
9 slides from Bang & Olufsen A/s's earnings presentation, Aug 31, 2009
Slide 1: Interim report for the period 1 June to 31 August 2009
Bang & Olufsen a/s Interim report for the period 1 June to 31 August 2009 Kalle Hvidt Nielsen President & CEO
Slide 2: Headlines
Bang & Olufsen a/s Headlines · Net turnover amounted to DKK 565 million against DKK 757 million in the same period last year, a decline of 25 per cent · Result before tax improved from negative DKK 62 million in the same period last year to negative DKK 53 million this year, an improvement of DKK 9
Slide 3: Pole Position strategy progressing according to plan
Bang & Olufsen a/s Pole Position strategy progressing according to plan · A focused product development: Increased turnover from launch products · One shared, global sales organisation · Cost reductions: Reduction of the break-even turnover
Slide 4: Improved result compared to last year
Bang & Olufsen a/s Improved result compared to last year · Improved result before tax in spite of 25 per cent decline in net turnover compared to the the same period in the financial year 2008/09 · Gross margin at 39.9 in line with expectations
Slide 5: Cost-cutting plan: Reduction of break-even turnover
Bang & Olufsen a/s Cost-cutting plan: Reduction of break-even turnover
Slide 6: Launch products’ share of total turnover (audio-video business)
Bang & Olufsen a/s Launch products’ share of total turnover (audio-video business) · Launch products’ share of total turnover is expected to be approximately 25 per cent for the financial year 2009/10. · Strong product pipeline for 2009/10: · New television product · 55” version of BeoVision 7 · New
Slide 7: Turnover per market (local currency) within the branded business
Bang & Olufsen a/s Turnover per market (local currency) within the branded business · Market conditions still challenging · Turnover for the Group’s three largest markets, UK, Denmark and Germany, was declining significantly · Automotive continued the growth
Slide 8: Distribution development
Bang & Olufsen a/s Distribution development · The net movement in the B1 segment for the first quarter 2009/10 was -18 shops · The closed B1-shops have had a turnover significantly below average turnover per shop
Slide 9: Expectations for the financial year 2009/10
Bang & Olufsen a/s Expectations for the financial year 2009/10 · Bang & Olufsen expects, based on the implemented restructuring initiatives combined with a strong product launch programme, to achieve a break-even result before tax in the 2009/10 financial year based on a turnover level a little belo