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
Bang & Olufsen is adjusting its outlook for the financial year 2021/22 (ending on 31 May 2022) primarily due to expected impact from continued lockdowns in China. The company now expects revenue to grow to a range between DKK 2.85bn and DKK 2.95bn. The lower revenue growth will also impact the company’s EBIT margin before special items and free cash flow. EBIT margin before special items is expected to be between -2% and 2%, while free cash flow is expected to be between DKK -180m and DKK -140m.