BONasdaq CopenhagenConsumer ElectronicsIFRS · DKK

Bang & Olufsen A/S

Bang & Olufsen A/S designs, develops, and sells premium audio and vision products under the Bang & Olufsen brand. Its business spans consumer electronics, connected sound systems, and related brand partnering activities, with sales across Europe, the Americas, and Asia-Pacific from its Danish base.

Liikevaihto1 193milj. DKK
−3,9 %v/v
Liikevoitto (EBIT)−76,0milj. DKK
−533,3 %v/v
EBIT-marginaali−6,4%
−5,4 %-yks.v/v
Nettotulos−90,0milj. DKK
−592,3 %v/v
Vapaa kassavirta−71,0milj. DKK
−197,3 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−1 00001 0002 0003 000milj. DKK2020: 2 629 milj. DKK2020: EBIT 19 milj. DKK20202021: 2 948 milj. DKK2021: EBIT 46 milj. DKK20212022: 1 471 milj. DKK2022: EBIT −72 milj. DKK20222023: 1 319 milj. DKK2023: EBIT 33 milj. DKK20232024: 1 242 milj. DKK2024: EBIT −12 milj. DKK20242025: 1 193 milj. DKK2025: EBIT −76 milj. DKK20251 193−76
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Audio products69 %

Speakers, sound systems, and related home audio products sold under the Bang & Olufsen brand.

Personal audio25 %

Headphones and portable listening products for individual consumers.

Vision products6 %

Television and connected home vision products integrated into the premium ecosystem.

Asiakkaat

Customers are primarily affluent consumers seeking design-led, high-end audio and home entertainment products. The company also serves brand partners and channel partners that support distribution, merchandising, and local market access. Demand is shaped by product design, brand appeal, installation needs, and the ability to integrate with connected devices and premium interiors.

Premium consumers

Buy speakers, headphones, and home systems for design, sound quality, and brand status

Retail and distribution partners

Buy finished products for resale and local market reach

Brand partnering customers

Buy access to Bang & Olufsen brand and related commercial support

Service and care users

Buy repair, maintenance, and product support to extend product life

Strategia

The company’s strategy centers on premium design, differentiated acoustics, and brand-led demand across a global retail footprint. It also emphasizes extending product life through service, repairability, and circular sourcing, while maintaining selective brand partnering as an additional route to market and revenue.

Premium product differentiationKeskipitkä aikaväli

Premium pricing and customer preference depend on design, acoustics, and brand identity

Circularity and product longevityKeskipitkä aikaväli

Longer-life products support brand trust, service revenue, and lower material dependency

Global market executionLyhyt aikaväli

Revenue is diversified across major consumer markets and requires local channel strength

Brand partneringKeskipitkä aikaväli

Partnering can expand reach and monetize the brand beyond direct retail sales

Maantiede

Bang & Olufsen sells globally, with disclosed revenue concentrated in China, the United States, Denmark, the United Kingdom, and Germany, alongside a broad rest-of-world base. Its reporting also separates Europe, the Americas, and APAC, showing a geographically diversified consumer footprint that matters because premium electronics demand, channel structure, and brand positioning vary by region.

Riskit

The business is exposed to supply-chain concentration in aluminium, electronic components, rare earths, and lithium-ion battery materials, which can affect availability, cost, and production continuity. It also faces typical premium consumer-electronics risks such as demand cyclicality, inventory obsolescence, rapid product innovation, and cyber risk linked to connected devices and a well-known brand.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Supply concentration in key materials1Cybersecurity and connected-product risk2Demand cyclicality in premium consumer electronics3Product repairability constraints4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Supply concentration in key materialsVaikutus: KorkeaTodennäköisyys: Korkea

    Aluminium, PCBs, rare earths, and battery inputs are critical to production and can be scarce or volatile

    Kohdistuu: Product availability and margins

  2. Cybersecurity and connected-product riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Connected consumer electronics and brand visibility make the company a target for cybercrime

    KohdistuuProductsCustomer dataOperations
  3. Demand cyclicality in premium consumer electronicsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Discretionary purchases are sensitive to consumer confidence and local economic conditions

    Kohdistuu: Sales volume and channel inventory

  4. Product repairability constraintsVaikutus: KeskitasoTodennäköisyys: Korkea

    Miniaturisation and product complexity can make some products difficult to service or extend

    Kohdistuu: Lifecycle economics and customer satisfaction

Kirjanpito

Harkinnanvaraiset erät
Revenue mix and timing

Product sales and brand partnering activity may be recognized differently, affecting comparability across periods

Vaikutus: Split between one-time product revenue and other activities

Inventory valuation

Premium electronics can become obsolete quickly, increasing write-down risk

Vaikutus: Gross profit and working capital

Intangible asset and development impairment

Capitalized development costs and brand-related intangibles require judgment on recoverability

Vaikutus: Operating profit and asset values

Deferred tax assets

Recognition depends on expected future profits and utilisation of tax losses

Vaikutus: Tax expense and equity

Lease accounting

Retail and office leases affect reported liabilities and depreciation/interest split

Vaikutus: EBIT, EBITDA, and leverage measures

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.10.2026

Bang & Olufsen A/S (BO) liikevaihto, tulos ja tunnusluvut 2025 – Clarifo