Bang & Olufsen Holding A/S Announces Group Earnings Results for the Second Quarter and Six Months Ended November 30, 2013
January 16, 2014 at 11:30 am
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Bang & Olufsen Holding A/S announced group earnings results for the second quarter and six months ended November 30, 2013. For the quarter, the company reported revenues of DKK 822 million compared with DKK 819 million for the same period a year ago. Earnings before interest, taxes, depreciation, amortisation and capitalisation was DKK 36 million compared with DKK 40 million for the same period a year ago. Earnings before interest, taxes, depreciation and amortisation was DKK 120 million compared with DKK 106 million for the same period a year ago. Earnings before interest and tax was DKK 31 million compared with DKK 26 million for the same period a year ago. Earnings before tax was DKK 17 million compared with DKK 23 million for the same period a year ago. Earnings after tax was DKK 8 million or DKK 0.2 per diluted share compared with DKK 15 million or DKK 0.4 per diluted share for the same period a year ago. Cash in flow from operating activities was DKK 3 million compared with cash out flow from operating activities of DKK 139 million for the same period a year ago. Return on assets was 1.1% compared with 1.0% for the same period a year ago. Return on equity was 0.5% compared with 0.9% for the same period a year ago. Earnings attributable to shareholders in the parent company was DKK 7.9 million compared with DKK 15.4 million for the same period a year ago. Purchase of intangible non-current assets was DKK 85.5 million compared with DKK 65.0 million for the same period a year ago. Purchase of tangible non-current assets was DKK 23.1 million compared with DKK 16.4 million for the same period a year ago.
For the six months, the company reported revenues of DKK 1,388 million compared with DKK 1,419 million for the same period a year ago. Loss before interest, taxes, depreciation, amortisation and capitalisation was DKK 2 million compared with earnings before interest, taxes, depreciation, amortisation and capitalisation of DKK 10 million for the same period a year ago. Earnings before interest, taxes, depreciation and amortisation was DKK 146 million compared with DKK 123 million for the same period a year ago. Loss before interest and tax was DKK 34 million compared with DKK 35 million for the same period a year ago. Loss before tax was DKK 51 million compared with DKK 41 million for the same period a year ago. Loss after tax was DKK 45 million or DKK 1.1 per diluted share compared with DKK 32 million or DKK 0.9 per diluted share for the same period a year ago. Cash in flow from operating activities was DKK 32 million compared with cash out flow from operating activities of DKK 214 million for the same period a year ago. Negative return on assets was 1.2% compared with 1.3% for the same period a year ago. Negative return on equity was 2.7% compared with 1.9% for the same period a year ago. Loss attributable to shareholders in the parent company was DKK 45.0 million compared with DKK 31.8 million for the same period a year ago. Purchase of intangible non-current assets was DKK 155.2 million compared with DKK 113.1 million for the same period a year ago. Purchase of tangible non-current assets was DKK 52.1 million compared with DKK 38.2 million for the same period a year ago.
Bang & Olufsen A/S is a Denmark-based company engaged in the design, development and marketing of audio and video equipment. The Company supplies primarily music systems, loudspeakers, television sets and multimedia products. Its activities are divided into two business areas: Business-to-Consumer (B2C) and Business-to-Business (B2B). The B2C area includes two segments: audiovisual (AV), offering audio and video products sold under the Bang & Olufsen brand; and B&O PLAY, which delivers stand-alone, portable products. The B2B business area also consists of Automotive segment, which comprises development, production and sale of sound systems for a range of cars, such as Aston Martin, Audi, BMW and Mercedes-Benz. Furthermore, the Company is parent of Bang & Olufsen Group, which operates worldwide.