BANG & OLUFSEN A/S BANG & OLUFS (0MRM.IL)
- Reuters
Bang & Olufsen shares drop after disappointing China sales
Shares in Bang & Olufsen plummeted 11% on Friday after the Danish audio and video equipment maker reported a preliminary operating loss for the third quarter and lowered its full-year profit outlook due to disappointing sales in China. The company posted an operating loss before special items for the third quarter of 43 million Danish crowns ($6.14 million) between December to February. "Sales in China did not progress as expected after the reopening because of all the challenges with COVID-19," Chief Executive Kristian Teär said in a statement.
- Globe Newswire
Bang & Olufsen releases preliminary Q3 numbers and adjusts outlook due to lower than expected sales in China
Bang & Olufsen releases the preliminary financial numbers for Q3 2022/23 and adjusts the outlook for the financial year 2022/23 (ending on 31 May 2023). The reason for the outlook adjustment is lower than expected sales in China. In December 2022, China moved away from its zero-COVID-19 policy after a longer period of lockdowns. That led to a surge in COVID-19 cases which created a large uncertainty in many parts of the country. These circumstances impacted the company’s performance in Q3 more t
- Globe Newswire
Long Term Share-based incentive programme for 2022/23
Pursuant to Bang & Olufsen A/S’ Remuneration Policy, the Board of Directors has approved the long-term restricted share program for 2022/23. The program consists of restricted share-based remuneration to the Executive Management Board, key employees and certain other employees. Two thirds of the restricted shares are Performance Shares that are eligible for vesting in equal tranches over the three financial years 2022/23, 2023/24 and 2024/25 depending on the level of achievement of certain KPIs
