Bang & Olufsen released their yearly earnings report yesterday and it shows that the Danish consumer electronics manufacturer is back on track. B&O announced both revenue and earnings growth in the first year with new CEO, Tue Mantoni. Next year, Bang & Olufsen expects double digit growth.
B&O is back on track
Danish Bang & Olufsen is still working to get back on top, and the work has begun to bear fruit. In 2011/2012 B&O recorded pre-tax earnings of 104 million DKK on revenue of 3,008 million DKK. This can be compared to pre-tax earnings of 40 million DKK on revenue of 2,867 million DKK last year.
The first year with Tue Mantoni as CEO shows signs of sustaining growth
B&O recently introduced the new B&O Play sub brand and released the BeoPlay V1 TV and BeoPlay A3 and BeoPlay A8 sound systems in the fourth quarter.
Bang & Olufsen is back on track. B&O Play is one of the driving elements
Bang & Olufsen has high hopes for the future. Next year, Bang & Olufsen expects double-digit revenue growth, driven by a "Leaner, Faster, Stronger" strategy. The www.beoplay.com online store has also been introduced. The company expects continued struggles in Europe but is entering new markets such as China. Bang & Olufsen also says that they have a strong innovation pipeline of products in the B&O Play line.