Bang & Olufsen A/S (LTS:0MRM)
kr 10.26 0 (0%) Market Cap: 1.16 Bil Enterprise Value: 1.19 Bil PE Ratio: 0 PB Ratio: 1.26 GF Score: 61/100

Q4 2020 Bang & Olufsen A/S Earnings Call Transcript

Jul 07, 2020 / 08:00AM GMT
Release Date Price: kr11.6 (-2.15%)
Operator

Ladies and gentlemen, welcome to the Bang & Olufsen Annual Report 2019/2020. (Operator Instructions)

Speakers, please begin your meeting.

Kristian TeÃ;r;s;CEO;Member of the Executive Board
Bang & Olufsen a

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So hi, everybody, this is Kristian Teär speaking, and I will start the presentation. So thank you very much for joining the call.

I will start today's presentation by summarizing the year and the Q4 results. Afterwards, Nikolaj, our CFO, will take you through the financials. Then I will go through our strategy and outlook for 2021 before we open up for questions. Our Head of Design, Creation & Fulfilment, Snorre; and our Head of Marketing & Digital Experience, Christian, is also here with us and will take part in the Q&A session.

So if we go to Slide #4, it was a disappointing year for Bang & Olufsen as our revenue declined by 29%. The EBIT margin before special items declined to minus 15% and our free cash flow was negative with DKK

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