Oct 01, 2020 / 08:00AM GMT
Operator
Ladies and gentlemen, welcome to the Bang & Olufsen Interim Report First Quarter 2020/'21. (Operator Instructions)
Speakers, please begin.
Kristian Teär - Bang & Olufsen a/s-CEO&Member of the Executive Board
So hello, everyone, and thank you for joining the call. Today I will start by going through the highlights of the quarter and provide an update on how we are progressing and unfolding our strategy. Afterwards, Nikolaj Wendelboe, our CFO, will take you through our financials in more detail. Then I will go through the outlook for 2021 before we open up for questions. Our Head of Marketing, Digital and Customer Experience, Christian Birk, is also with us today and will take part in the Q&A session later.
So if we move to Slide #4. For the first time in 2 years, we reported revenue growth. The revenue increased by 11% in local currency to DKK 462 million in Q1. The EBIT was negative DKK 39 million, and free cash flow was negative DKK 62 million. This was a
Q1 2021 Bang & Olufsen A/S Earnings Call Transcript
Oct 01, 2020
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