Q2 2023 Bang & Olufsen A/S Earnings Call Transcript

Jan 11, 2023 / 09:00AM GMT

Release Date Price: kr10.25 (+9.33%)

Transcript

Operator

Ladies and gentlemen, welcome to the Bang & Olufsen Interim Report for Q2 2022-'23. (Operator Instructions) This call is being recorded.

Today, I am pleased to present CEO, Kristian Tear. Speaker, please begin.

Kristian Tear;s;CEO;Member of the Executive Board

Bang & Olufsen a

/-&

Hello, everyone, and thank you for joining the call. As always, I have Nikolaj Wendelboe, our CFO, with me today.

I will begin by going through the financial highlights for our second quarter, followed by an update on how we're progressing on our strategy. Here, I will also share a little more about our sharpened strategic direction. Nikolaj will take us through the financials, and I will conclude the presentation part before opening up for questions.

So if we move to the next slide. We achieved 6% growth in the second quarter despite the macroeconomic headwinds that continue to impact us and the global economy. Product sales grew by 2%. Our Americas region delivered a record quarter in terms of

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