Oct 10, 2024 / 08:00AM GMT
Operator
Welcome to Bang & Olufsen interim report for the first-quarter 2024, '25 presentation. (Operator Instructions) This call is being recorded. I will now hand the call over to speakers. Please begin.
Kristian Tear - Bang & Olufsen A/S-Chief Executive Officer - Member of the Management Board
Hello, everyone, and thanks for joining the call. With me today is our CFO, Nikolaj Wendelboe. I will start by taking you through our key highlights and business review. Nikolaj will take us through the financials in more detail, and I will conclude before we open up for questions.
If we move to next slide. Let us begin by looking at our Q1 performance. We delivered a first quarter in line with our plans and expectations. We had a decline in revenue of 12%. This was mainly due to a strong comparable first quarter last year, which was positively impacted by increased demand ahead of a planned price increase in the following quarter.
We improved our gross margin further to a record high 55.2%. This shows the
Q1 2025 Bang & Olufsen A/S Earnings Call Transcript
Oct 10, 2024
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