Just from the ovens:

Interim report for the period 1 June - 30 November 2009 for Bang & Olufsen a/s

Main points:

• turnover down to DKK 1,234 m from last year's 1,533 m
• result before tax -100 m against -210 m of last year
  
• order book significantly up
• BV10-40 has been a success, so BV10-46 will be launched before the end of the financial year (i.e in six months)
• which, on the other hand, means that the new audio system, whatever that is, will be postponed later than that
• increasing turnover and a positive result expected for the second half of the financial year

The stock market isn't initially too happy, but we'll see how it develops...

Apparently there will be a webcast in 20 minutes.

(Yes, I just edited 10-55 to 10-46. My typo.)

Oh Dear!! Did someone get the figures wrong?????

The delay in the audio system is a bummer even though it probably won't be for me.

I don't see how that goes along with increasing the speed of product development .... it feels to me that so far not much came out of that.

JK

tournedos:

• turnover down to DKK 1,234 m from last year's 1,533 m
• result before tax -100 m against -210 m of last year

Soooooo... they've sold less but have greatly reduced their losses?

tournedos:

Apparently there will be a webcast in 20 minutes.

From the B&O web site ...

To see the webcast your computer has to support the Windows Media 9 file format.
Information on how to install and test Windows Media Player 9.

Why oh why not use something that is useable by non-Windows people ? And here I include all the Linux etc people of the world !

dilznik:

tournedos:

• turnover down to DKK 1,234 m from last year's 1,533 m
• result before tax -100 m against -210 m of last year

Soooooo... they've sold less but have greatly reduced their losses?

Not an unusual financial state of affairs :-(

Helps to highlight where the cost issue lies

dilznik:

tournedos:

• turnover down to DKK 1,234 m from last year's 1,533 m
• result before tax -100 m against -210 m of last year

Soooooo... they've sold less but have greatly reduced their losses?

Well, being an industry is a lot more than selling stuff. Apparently result of the cost reductions that were announced ages ago.

tournedos:

dilznik:

tournedos:

• turnover down to DKK 1,234 m from last year's 1,533 m
• result before tax -100 m against -210 m of last year

Soooooo... they've sold less but have greatly reduced their losses?

Well, being an industry is a lot more than selling stuff. Apparently result of the cost reductions that were announced ages ago.

Yes, if you examine the balance sheet you can see they closed under performing B1 stores, reduced their debt, increased their cash holdings (I hope they get a better interest rate than I do), increased the performance of the automative division, and I think reduced their inventory and factory floor space costs

elephant:

tournedos:

Apparently there will be a webcast in 20 minutes.

From the B&O web site ...

To see the webcast your computer has to support the Windows Media 9 file format.
Information on how to install and test Windows Media Player 9.

Why oh why not use something that is useable by non-Windows people ? And here I include all the Linux etc people of the world !

You didn't miss much as most of the questions were avoided by 3 people who were way out of their comfort zone!

joeyboygolf:

elephant:

tournedos:

Apparently there will be a webcast in 20 minutes.

From the B&O web site ...

To see the webcast your computer has to support the Windows Media 9 file format.
Information on how to install and test Windows Media Player 9.

Why oh why not use something that is useable by non-Windows people ? And here I include all the Linux etc people of the world !

You didn't miss much as most of the questions were avoided by 3 people who were way out of their comfort zone!

I have downloaded it using SWMBO's HP and I am currently converting it to Apple format

I might even post the slides that accompany the webcast . . . . . 

joeyboygolf:

You didn't miss much as most of the questions were avoided by 3 people who were way out of their comfort zone!

Yeah, it was a bit funny at times

But not all of the questions were that great, either. Like the last guy going on an on about a figure on the report that he couldn't understand... what are the chances of an actual error in a financial report? Or the other one demaning info on Christmas sales when they obviously cannot and won't comment on that for a report ending on November. The time spent on these could've been used for something interesting.

Sound quality was excellent, though!

elephant:

I have downloaded it using SWMBO's HP and I am currently converting it to Apple format

I might even post the slides that accompany the webcast . . . . . 

Here you are fellow Apple fans :)

1. Interim report for the period 1 June to 30 November 2009 ... opening (title) slide ... BV10 as art work, or a work of art
2. Headlines
3. Development in turnover and result before tax
4. Effect of cost-cutting plan in line with expectations
5. Launch products' share of total business (audio-video business)
6. Half year turnover per market (DKK) within the branded business
7. 2nd quarter turnover per market (DKK) within the branded business
8. Distribution development
9. Number of B1 shops per market 30 November 2009
10. Turnover in B1 shops
11. Expectations in the 2009/2010 financial year... closing slide
    

E&OE, copyright Bang and Olufsen

tournedos:

Well, being an industry is a lot more than selling stuff. Apparently result of the cost reductions that were announced ages ago.

Like moving the production of half their stuff to the Czech Republic, not telling anyone, and not reducing the prices at all?

dilznik:

 and not reducing the prices at all?

Or maybe, not increasing the prices.

Daniel:

Or maybe, not increasing the prices.

Have you seen the other threads?  Can you imagine how people would flip out if there was a cost increase on BL9, and they bought it, and then they found out it was made in CZ and not DK?  There would be riots.  Or whatever angry rich people do =)

dilznik:

Daniel:

Or maybe, not increasing the prices.

Have you seen the other threads?  Can you imagine how people would flip out if there was a cost increase on BL9, and they bought it, and then they found out it was made in CZ and not DK?  There would be riots.  Or whatever angry rich people do =)

My point is that instead of keeping the production in Denmark with an price increase to be able to get a profit they moved the production to the Chech Republic to get a profit with remaing price level.

Daniel:

Sorry, strange postings!

I've seen plenty of doubles, but... did you let your pet octopus click on "post"?

Must stop drinking at work!

Hate when this happens. In the middle of the typing I get one post for ever word in the post.

I was looking forward to my 888th post, missed that one.

Daniel:

Must stop drinking at work!

Hate when this happens. In the middle of the typing I get one post for ever word in the post.

I was looking forward to my 888th post, missed that one.

Trying to get your post count up again, Daniel!?

The markets did not like this report.

B&O shares have dropped from 85kr to 70.5kr since Monday.

Graham

vikinger:

The markets did not like this report.

B&O shares have dropped from 85kr to 70.5kr since Monday.

Graham

Better off putting money in Apples.

bayerische:

vikinger:

The markets did not like this report.

B&O shares have dropped from 85kr to 70.5kr since Monday.

Graham

Better off putting money in Apples.

Got the Apples covered! Hope they don't ripen prematurely.

elephant:

Here you are fellow Apple fans :)

Most considerate of you to those of us who prefer B&O and Apple, and feel a bit abandoned by B&O which insists on mostly ignoring Apple users.

vikinger:

bayerische:

vikinger:

The markets did not like this report.

B&O shares have dropped from 85kr to 70.5kr since Monday.

Graham

Better off putting money in Apples.

Got the Apples covered! Hope they don't ripen prematurely.

Just like Forrest Gump. "Fruit company".