[Emilos88]

It very much depends on the future design on the OLED from LG,

So maybe, maybe not. B&O have no control over LG, so it is wrong to promise anything with the Eclipse.

The Theatre is a whole other approach, but it is not as integrated as the Eclipse. There is plusses and minus with every solution.

I would not think much about it, imo there is nothing new to want in the next couple of years thinking about panels.

[Emilos88]

The HX is cheaper than the Portal in the way that you dont get a case with the Portals. I would always recommend the Portal PC, becuase if you wanted to use it with a PC it will be much better than the HX (If you ever needed to chat on skype, Discord and so on)

The Beoplay 500, without knowing I would belive is made for teams and Zoom, but in many ways the same as the Portals.

[Emilos88]

That picture is H8i not the new 500

[Emilos88]

Bang & Olufsen in La Jolla does a lot in vintage B&O, try give them a call.

[Emilos88]

I would like to see and hear more about the Bespoke program, maybe see some of the versions. That is going to be a big thing in the future IMO.

[Emilos88]

True they did not earn money on Beovision. But I think that have changed since they dont make the TV part anymore. All that reasearch money are saved now.

I cant imagine that B&O would have been able to do a very good job with all the new standards. A brilliant move to use LG.

[Emilos88]

I see your point, but as a owner of Beovision Harmony I hope they will continue making Beovisions.

There is to many things I would miss with just a soundbar.

But it is a very nice additional to a good range, and will drive up the speaker sales imo.

[Emilos88]

It looks like in the test report that it have channels out.

So I think this is the soundbar with connection to other speakers that people have been waiting for.

[Emilos88]

1. Yes and that makes the cover a bit more expensive (But cannot be much)
2. No they are not a better chip is needed, but yes the 88″ from LG is very overpriced.
3. Yes it is the same
4. Yes
5. And Yes but the Z2 will be a bit cheaper (But not now so correct)
6. yep
7. So it is because of different thing, so this is a explanation not that I don’t think it is overpriced. The cover a a bit more expense, and the configuration on the 88″ is shown with a motorstand this is 1,5K of the price. And then there is the thing, that the 88″ Z1 are not made for wall mount. So B&O have gone in great length to make this possible with extra tooling and cover, this is not free. And these cost have to be divide on very few units.

8K is not going to happen soon, and with the new 83″ Harmony my Guess is that they are not really going to sell the 88″. Hopefully later this year they will come with a 97″ also.

[Emilos88]

It is 20K £ but okay….

[Emilos88]

If you order a Harmony now, it should be with a LG G1,

The dealers order the display from LG, and LG do not have the old displays in stock.

This also means that B&O needs to adapt the spearker fronts to the new G2, as it is not as wide.

Lets see how fast this transistion is going.

 

 

[Emilos88]

[Emilos88]

[Emilos88]

Mr10Percent wrote:

I think the report/presentation is generous and time-sensitive. I see a number of key fundamentals which will hurt all/every business (excluding arms manufacturers perhaps?):-

1. Interest rates will rise dramatically. This will hurt B&Os efforts in recent years to re-finance
2. They may have reduced ability for additional borrowing facilities (Cashflow is collapsing)
3. Non-staged sales. Millenials will have a lot less disposable in 2022/23
4. Overall, can see a compounding of UK outlook, disposable income with Sales hit
5. Can expect to see a compounding of German outlook, disposable income with Sales hit
6. Raw materials (particularly Aluminium, Nickel and polymers) price increase as western currencies devalue.

1. Yes a higher interest rate will hurt all sales for all companies. But this is needed if we want to slow down the economy, which are very much needed.
2. B&O have much more Cash and bonds than they have debt. They can continue in many years on Zombie mode. This is not the case right now, as they are investing a lot in product development, which will be good for the future.
3. You cannot say this for certain, in Denmark the employment rate is as high as it gets. This means that the younger generation can pick a job by their choosing, and get very high start salaries. Some might get fired if things slow down, but most will keep their high pay.
4. Yes but nothing wrong in things slowing down. Right now they cant produce the amount they can sell.
5. Same
6. The raise in price on these materiels have been raising mostly because of higher demand. If the demand slows down, as you suggest, These thing will get a more normal state, and the prices will be lowered a lot. Off cause a small inflation dent will stay but it will be small if they have succes in slowing down the economy.

Slowing down is hard without crashing, lets hope.

 

[Emilos88]

So B&O just showed their Q3 result, and even though there is a small loss, they show that they can handle the high extra expense on freight and components.

Here is some parts of the report that I find interesting:

As a result of steady progress on strategy execution
the company grew revenue by 10% in local
currencies in Q3. This was the seventh consecutive
quarter with double-digit growth.

Earnings for the period were a loss of DKK 16m
compared to a profit of DKK 13m last year.
Free cash flow was an outflow of DKK 14m (Q3
20/21: inflow of DKK 8m). The year-on-year decline
was related to higher component costs and higher
CAPEX.
Available liquidity was stable at DKK 511m (Q2
21/22: DKK 534m)

The two core Asian markets grew by 28% in local
currencies. Sell-out was at the same level as last
year. Sell-out growth was lower than sell-in in the
multibrand and etail channels as the company
transitions to new distribution partners. Also, the
Chinese New Year began earlier this year, thereby
impacting the number of sell-out days in Q3.

Americas grew 32% in local currencies, driven by all
product categories and distribution channels. Likefor-like sell-out grew by 18%.

Year-to-date, the customer base grew by 25%. The
company saw a 32% growth in customers owning
two or more B&O products, partly driven by
retargeting of existing customers

The company maintains the outlook for the financial
year 2021/22, but due to higher component costs,
the company now expects EBIT margin before
special items and free cash flow to be in the low end
of the range

Revenue from speaker sales more than doubled
compared to Q3 of last year. This increase was
driven by all products, especially Beolab 28, which
was launched in Q4 of last year and continued to
see strong demand.

Revenue from TVs was slightly lower than Q3 of last
year. However, last year, the company sourced and
sold TV screens supporting the launch of Beovision
Contour 48’’. This accounted for around 6% of
revenue within the Staged category last year and if
this is excluded, TV sales delivered high single-digit
growth.

Cash flows from investing activities were an outflow
of DKK 75m (Q3 20/21: outflow of DKK 55m).
Investments were primarily related to the product
roadmap and continued development of product
platforms. Investments in tangible assets increased
following investments in retail development and the
company’s aluminium factory.

n Q2 2021/22, the building “the Farm” was
reclassified to land and buildings under tangible
assets because it will be used for own purposes.

Model for scale
Another critical part of creating business robustness
is to build a scalable business model. This means
essentially creating a systemic mix of attractive
propositions, sold through the right marketing and
distribution channel mix, so that the business can
grow organically.

The company’s Recreated Classics initiative was
further expanded with the launch of BeoSystem 72-
22. This system was created exclusively for the US
and Canada and only 30 units were made of this
limited-edition system which were all sold within the
first day

Another product programme is the Bespoke
programme launched in Q2. Throughout Q3, the
company experienced a consistent inflow of
product requests without significant marketing
activation. The vast majority of bespoke requests
year-to-date (95%) were customisations, where
customers mix and match existing colours, materials
or finishes for a specific product. The remaining 5%
were bespoke orders, where products are tailored
exclusively to the individual customer. The
programme is a deliberate effort to increase
relevancy and attractiveness towards specific
subsegments of the company’s target audience in
the Very High Net Worth Individuals and WellEstablished customer segments

In Q3, the company launched a limited-edition
Beosound A1 speaker in partnership with the
streetwear label and lifestyle brand CLOT. The
collaboration was designed to tap into CLOT’s
creative movement in bridging Eastern and Western
cultures in order to drive awareness and affinity
with a younger segment of, particularly, Chinese
consumers.

The company’s strategic decision to win in London
continued to yield strong results. UK performance in
the quarter was testament to the positive impact of
this approach, with year-on-year revenue growing
11% and sell-out growth reaching 31%. For London
specifically, sell-out growth in company owned
stores reached 80%, outperforming both the rest of
the UK and the EMEA region. In addition, brand
awareness, customer base and repurchase increased
significantly compared to last year.

Brand Partnering activity remains a critical
component of the business model as it drives
awareness and new customer acquisition.
Performance in the quarter grew by 9%, primarily as
a result of aluminium sales related to Harman’s
addition of the Genesis car brand.

The launch of 1+ product innovation in Q4.

[Emilos88]

Here MM:

Bang & Olufsen – Beoplay EX – Earbuds | Voted #1 NSW HiFi Store | Sydney Hi Fi Mona Vale

[Emilos88]

[Emilos88]

[Emilos88]

[Emilos88]

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