Bang & Olufsen A/s · OMXCOP:BO
Bang & Olufsen A/s — Q3 2026 Earnings Presentation
13 slides from Bang & Olufsen A/s's earnings presentation, Apr 16, 2026
Slide 1: Investor Presentation Q3 2025/26
Investor Presentation Q3 2025/26
Slide 2: Disclaimer
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 America, Canada, Australia, Japan or
Slide 3: Highlights: Revenue growth in local currencies of 1.3%, gross margin 57.5%
Highlights | Revenue growth in local currencies of 1.3%, gross margin kept its solid performance at 57.5%. Outlook adjusted on 23 March 2026 Q3 2025/26 9M 2025/26 Like-for-like sell-out grew by 1% in Q3, with branded channels up 2%, and Win Cities delivering 16% collective sell-out growth. Revenue D
Slide 4: Highlights: Opening of flagship store in San Francisco, Hamburg and Shenzhen stores
Highlights | Opening of largest flagship store globally in San Francisco, a new 250m2 HafenCity store in Hamburg & our first Culture Store in China in Shenzhen MixC Hamburg, Germany Shenzhen, China 250m2 store in the HafenCity district Culture Store in the luxury mall MixC 4
Slide 5: Beosound Premiere relaunched at a new price point with two new colourways
Highlights | Beosound Premiere relaunched at a new price point with two new colourways • Price decreased by 20%, placing Beosound Premiere more naturally within the soundbar category • Clearer separation between Price product tiers strengthens the overall portfolio architecture • Two new colourways
Slide 6: Financial performance in Q3 & Outlook 25/26
INVESTOR PRESENTATION – Q3 2025/26 Financial performance in Q3 & Outlook 25/26
Slide 7: Sell-out Growth
Sell-out Growth | Like-for-like sell-out growth of 1% driven by double-digit growth in APAC. Win City sell-out growth of 16% Group Regions Win Cities Regions • EMEA: Company-owned stores delivered double-digit growth, whereas e-commerce declined and monobrand saw a single-digit -8% decrease, leading
Slide 8: Reported revenue below expectations; gross margin solid, EBIT margin reflects lower revenue
Reported revenue below expectations. Gross margin continued the solid performance while the EBIT margin reflect the lower-than-expected revenue performance Group revenue Gross margin EBIT margin before special items DKKm % % +2.1pp -1.9pp -1.7% (LC: +1.3%) 698 680 58.7 3.8 676 57.9 57.5 631 621 55.4
Slide 9: Revenue from regional product sales grew by 3.1% in local currencies
Revenue from regional product sales grew by 3.1% in local currencies, supported by strong APAC performance, while margin expansion continued across regions EMEA Americas APAC Brand partnering & other activities DKKm DKKm DKKm DKKm -0.9% (LC: -1.1%) -14.8% (LC: -3.2%) +8.6% (LC: +14.3%) -12.8% (LC: -
Slide 10: Decline in net working capital reflecting lower inventories
Decline in net working capital reflecting lower inventories. Capital resources largely stable during the quarter Net working capital Free cash flow Capital resources DKKm DKKm DKKm -19 +4 316 30 600 282 289 22 532 270 18 250 255 448 216 4 -5 319 299 267 262 -33 -36 -135 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q1 Q2 Q3
Slide 11: Outlook for 2025/26 adjusted on 23 March 2026
Outlook for 2025/26 adjusted on 23 March 2026 Revenue growth Free cash flow Local currencies EBIT margin bsi* DKK Outlook FY 2025/26 -3% to 0% -3% to -1% -200m to -150m Previously 1% to 5% Previously -3% to 1% Previously -100m to -50m Actuals 9M 2025/26 -1.1% -2.8% -146m CAPEX expected to be around
Slide 12: Webcast Presentation – Q3 2025/26
WEBCAST PRESENTATION – Q3 2025/26 Nikolaj Wendelboe 12
Slide 13: Investor relations contact
WEBCAST PRESENTATION – Q3 2025/26 Investor relations contact Cristina Rønde Hefting +45 41 53 73 03 crrh@bang-olufsen.dk 13