Press Releases

Interim Report 1st Quarter 2016/17 (1 June 2016 - 31 August 2016)

October 4, 2016 at 9:00 AM CEST

Q1 Highlights

”The start to the year with moderate growth was anticipated due to delayed product launches, and the  decline in the Bang & Olufsen segment was in line with our expectations. B&O PLAY continued the double-digit growth and delivered a good start to the year. Overall, we see solid progress ahead, supported by strong and relevant products in our pipeline,” says CEO, Henrik Clausen. 

  • The group realised a moderate revenue growth of 2 per cent. The Bang & Olufsen segment revenue declined by 16 per cent due to delayed product launches, whereas the B&O PLAY revenue increased by 41 per cent.
  • The Group gross margin increased to 33.4 per cent from 32.5 margin last year, primarily due to improved gross margins in B&O PLAY.
  • EBITDAC was negative DKK 67 million in the quarter compared to negative DKK 50 million last year. The decline in profitability was primarily a result of the decline in revenue in the Bang & Olufsen segment. The anticipated growth in the Bang & Olufsen segment, along with the continued growth in B&O PLAY, is expected to contribute to an improved EBITDAC for the full year.
  • Free cash flow was negative DKK 32 million compared to negative DKK 168 million last year. The change was mainly related to an improved net working capital.
  • The outlook for 2016/17 remains unchanged. Revenue for the Group is expected to grow compared to 2015/16, driven by double-digit growth in B&O PLAY and moderate growth in the Bang & Olufsen segment. EBITDAC for the underlying business is expected to improve compared to the EBITDAC of DKK 14 million in the underlying business in the 2015/16 financial year.
  • On 12 September 2016, HARMAN and Ford Motor Company announced a collaboration that entails Ford offering B&O PLAY audio solutions for Ford’s vehicle lineup worldwide. This is expected to generate license fee income for the Group in the coming years.
  • Launch of exciting new products including two new Bang & Olufsen TV models is expected to drive revenue growth in the segment in the coming quarters.


Any enquiries about this announcement can be addressed to:

Investor contact, Claus Højmark Jensen, tel.: +45 2325 1067

Press contact, Morten Juhl Madsen, tel.: +45 4030 8986


A webcast will be hosted on 4 October 2016 at 10:00 CET. Access to the webcast is obtained through our website

Investor contact

Martin Raasch Egenhardt
Head of Investor Relations
Major Shareholder Announcements should be sent directly to

Press contact

Jens Gamborg
Head of Group Communications
+45 2496 9371

Other enquiries

For all non-PR or non-IR related enquiries, e.g. advertising and HR related questions,
please contact Bang & Olufsen’s main office at:
+45 9684 1122