Mar 16, 2020 / 10:00AM GMT
Operator
Welcome to the Bang & Olufsen Company Update. (Operator Instructions) I will now hand the word over to CEO, Kristian Teär. Please begin.
Kristian Teär - Bang & Olufsen a/s-CEO - President & Member of the Executive Board
Hello, everyone, and thank you for joining the call. With me, I have our CFO, Nikolaj Wendelboe.
On Friday, we released the preliminary Q3 numbers and adjusted our financial outlook for the full year based on the expected impact from COVID-19. In the same announcement, we said that we would accelerate the cost reduction program, which we have worked on since December last year and provide more details in due course. With the company announcement released this morning, we can now provide more details on our cost reduction program. Please note that we will still publish our financial report covering the third quarter as planned on April 2.
So let's move to Slide #3. Overall, Q3 was as we had expected. China was the first country to be impacted by COVID-19,
Bang & Olufsen A/S To Discuss On Cost Reduction Programme Transcript
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