Danish high-end electronics producer Bang & Olufsen experiences a decline in turnover for the second consecutive quarter in 2024. The company’s main markets are China and Europe and macroeconomic tendencies in both markets affect B&O’s sales. Last month the company announced to adjust its expectations downwards for the coming financial year, and therefore the decline in sales comes as no surprise to B&O.
The company sold 614 Danish crowns worth of products in this quarter, which is a 21 million decline compared to sales in the same period last year. Earlier B&O had announced to its investors, that they could expect a revenue growth of 0-9 percent measured in local currencies. The newest calculation predicts a 5-8 percent decline in revenue.
Source: bt.dk
