For the first half of the 2009/10 financial year, the Group's total turnover totalled DKK 1,234 million against DKK 1,533 million last year. As a result of the launch of a range of new products towards the end of the quarter, the order book at the end of the second quarter is significantly up on the corresponding period last year. The month of November recorded a turnover growth compared to November last year. At the end of the first half year of the 2009/10 financial year, the Group launched a range of important products, including BeoVision 10 and BeoVision 7-55, which have been positively received by the markets. Following the positive reception of BeoVision 10-40, the Group has decided to launch a 46 inch version of BeoVision 10 before the end of the financial year. The audio system, which was scheduled for launch before the end of the financial year, is, on this basis, postponed. The Group has reduced its capacity costs by DKK 244 million, from DKK 830 million for the same period last year to DKK 586 million, i.e. 29 per cent. Result before tax was negative at DKK 100 million against a negative result of DKK 210 million for the first half of 2008/09. The business area Automotive continued to advance in the first half year in that turnover totalled DKK 117 million against DKK 104 million for the same period last year. Based on the improved order situation, the planned product launches, and continued rigorous cost control, an increasing turnover is expected in the second half year of 2009/10, and a positive result before tax. Bang & Olufsen expects, that the 2009/10 financial year will result in a result before tax between DKK 0 and DKK -50 million and a turnover between DKK 2,700 and DKK 2,900 million (compared to the 2008/09 financial year of DKK -523 million and DKK 2,789.5 million respectively). Jørgen Worning Karl Kristian Hvidt Nielsen Chairman President & CEO For further information: President & CEO Karl Kristian Hvidt Nielsen, tel.: +45 9684 5004.
Interim report for the period 1 June - 30 November 2009 for Bang & Olufsen a/s
| Source: Bang & Olufsen A/S