Bang & Olufsen a/s (0MRM) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Bang & Olufsen Interim Report for the third quarter 2024-2025 presentation. For the first part of this call, all participants are in a listen-only mode. Afterwards, there will be a question-and-answer session. To ask a question, please press 5-star on your telephone keypad. This call is being recorded. I will now hand the call over to your speakers. Please begin. Hello, everyone, and welcome. Thank you for taking the time to join us today. Here with me is our CFO, Nikolaj Wendelbo. I will begin by outlining our key highlights and providing an overview of our business performance. Following that, Nikolaj will present a more detailed review of the financials, and I will then offer some closing remarks before we open the session for questions. Please move to slide four. Let us begin by looking at our Q3 performance. We are pleased with the performance in Q3. Revenue grew by 2%, led by EMEA and a strong performance in the Americas. We also achieved a record high gross margin of 55.4%, an EBIT margin of 3.8% and a positive free cash flow of 18 million. Like for like, sellout grew by 15%, driven by growth of 21% in branded channels. In addition, sellout growth for our win cities collectively grew by a substantial 36%. We are pleased to see growth in the areas our strategy is focused on. All in all, we are progressing as planned, and with only two months left of the financial year, we are narrowing the ranges within the original outlook. During the last few weeks, your political uncertainties have increased in light of the recently announced tariffs and the possibility of further tariff changes. What I will also stress is that while monitoring developments closely, and if needed, we will make adjustments accordingly, we are continuing our strategic transition by ...