BANG & OLUFSEN A/S
Consumer goods·BO · Nasdaq Copenhagen·Fiscal year to 31/05/2026
Beo Grace is an in-ear design in hand-polished aluminium, built on the proprietary Amadeus software platform, with a 12 mm titanium driver, adaptive Active Noise Cancellation, Dolby Atmos optimisation and NearTap volume control. Beosound Premiere is a soundbar built on patent-pending Wide Stage Technology and sculpted from aluminium at Factory 5 in Struer. With built-in Dolby Atmos 7.1.4 and Beolink Surround, the system can grow over time as additional speakers are added.
Exposure profile
Derived from what the company itself writes. Empty directions mean the report doesn't mention themes of that type.
In their own words
Grouped by theme, from the management review in the annual report. A · The company itself is a verbatim quote, B · From the report is without a verified quote.
Semiconductors and electronic components
Raw materials and inputs
InputNegative impact: weakens
“The increasing complexity of global supply chains, combined with geopolitical tensions, structural shifts in the technology component landscape, and acute constraints in the global memory chip (RAM) market driven by data centre demand means that securing reliable access to critical components is an operational and strategic priority. 17BRisk 18BThere is a risk that Bang & Olufsen is unable to secure timely access to critical components required for manufacturing. Global RAM shortages impact production continuity, product launch timelines, the company's ability to meet product demand or require costly spot market sourcing.”
Annual report 2026A · The company itself
Market
“Beo Grace is an in-ear design in hand-polished aluminium, built on the proprietary Amadeus software platform, with a 12 mm titanium driver, adaptive Active Noise Cancellation, Dolby Atmos optimisation and NearTap volume control. Beosound Premiere is a soundbar built on patent-pending Wide Stage Technology and sculpted from aluminium at Factory 5 in Struer. With built-in Dolby Atmos 7.1.4 and Beolink Surround, the system can grow over time as additional speakers are added.”
Annual report 2026A · The company itself
Market
“In November 2025, we launched the Beo Grace earpieces. Beo Grace marks a new expression of Bang & Olufsen inear design, crafted from hand-polished aluminium and built on our proprietary Amadeus software platform. A titanium driver, adaptive Active Noise Cancellation, Dolby Atmos optimisation, NearTap volume control and AIdriven speech enhancement come together to redefine luxury in-ear listening. The product was well received and sales performance has been strong, driving double-digit growth in earphones revenue.”
Annual report 2026A · The company itself
Market
“In December 2025, we launched Beosound Premiere, adding a soundbar to the portfolio designed for TVs from 42" and above, centred on spatial audio and system connectivity. Premiere is built on our patent-pending Wide Stage Technology to deliver an immersive listening experience, featuring an aluminium body sculpted at our Factory 5 in Struer.”
Annual report 2026A · The company itself
Market
“The margin improvement was driven by a more favourable product mix, while the gross margin in the On-the-go category increased, supported by the launch of Beo Grace.”
Annual report 2026A · The company itself
Chains in: Artificial intelligence strengthens
Circular economy and recycling
Regulation
StrategyPositive impact: strengthens
“297BIconic design and product leadership Our unique product portfolio forms the foundation of everything we do, continuously evolving through innovation and exceptional sound and iconic design. We develop long-lasting, collectible products that reflect circular design principles and challenge industry conventions. We create products that deliver a pure and authentic audio experience, allowing sound to be reproduced as intended by the artist. This is combined with a design philosophy that emphasises longevity, quality, and aesthetic value, ensuring our products are made to last.”
Annual report 2026A · The company itself
StrategyPositive impact: strengthens
“per 7 January 2026 Initial outlook 2025/26 Revenue growth in local currencies (%) -1.6 -3 to 0 1 to 5 1 to 8 EBIT margin before special items (%) -0.5 -3 to -1 -3 to 1 -3 to 1 Free cash flow (DKKm) -141 -200 to -150 -100 to -50 -100 to 0 Results Reloved extends the life of Bang & Olufsen's iconic products through a circular programme built on long-lasting craftsmanship, timeless design and beautiful sound, while introducing a new, scalable business model for resale. Launched in October 2025, Reloved turns the brand's commitment to repair and refurbishment into a certified pre-owned offering, enabling clients to buy directly from Bang & Olufsen for the first time. Each product is traded in, inspected, refurbished and certified by experts, then sold with grading and warranty to ensure trust and quality.”
Annual report 2026A · The company itself
StrategyPositive impact: strengthens
“The programme keeps products in use for longer, preserves their value and broadens the client base, while supporting new sales through trade-in dynamics.”
Annual report 2026A · The company itself
StrategyPositive impact: strengthens
“Extending product lifecycles through refurbishment and upgrades Continued Recreated Classics and launched the Reloved programme to enable high value lifecycle extension.”
Annual report 2026A · The company itself
StrategyPositive impact: strengthens
“Sustainability is embedded in how we design, deliver, and extend product life. Through service, repair, refurbishment, and resale, we support products beyond the first point of sale, enabling continued use, preserving value, and strengthening longterm relationships between product, client, and brand. In this way, sustainability becomes part of how we deliver on our client promise.”
Annual report 2026A · The company itself
StrategyPositive impact: strengthens
“Our business model is built on products designed for longevity and continued relevance. Value creation extends beyond the initial sale through service, repair, software updates, refurbishment and resale, supporting continued use and long-term client relationships.”
Annual report 2026A · The company itself
Market
“The Reloved programme brought inspected, refurbished and certified pre-owned products to Bang & Olufsen's own e-commerce channel for the first time.”
Annual report 2026A · The company itself
Market
“During the financial year, we launched three product innovations. In October 2025, we launched the Reloved programme, offering inspected, refurbished and certified pre-owned products with a Bang & Olufsen warranty through our own e-commerce channel. The launch was successful. Across eight monthly drops from October to May, all products sold out before the next drop, with some selling out within 24 hours.”
Annual report 2026A · The company itself
Chains in: EU climate and energy policy strengthens
Retail
End markets
DriverNegative impact: weakens
“The multibrand channel reported a double-digit decline.”
Annual report 2026A · The company itself
DriverNegative impact: weakens
“There is a risk that Bang & Olufsen is not able to sustain and develop its retail partner network at the required speed to support the strategy. The luxury retail landscape faces structural challenges rising occupancy costs, evolving client channel preferences and demanding economics for luxury retail partners pose challenges for network expansion and thereby could impact brand visibility and long-term revenue growth.”
Annual report 2026A · The company itself
StrategyPositive impact: strengthens
“296BRetail and experience ecosystem We are optimising our retail network to deliver consistent, high-quality luxury experiences across all touchpoints and to support revenue growth across regions. This includes expanding our branded retail presence in the Americas and APAC to achieve a more balanced global footprint.”
Annual report 2026A · The company itself
StrategyPositive impact: strengthens
“Across our network, we are strengthening our position in high-potential locations by relocating selected stores and opening new sites in key cities and districts, while closing underperforming locations that are not aligned with our brand ambition. In parallel, we are enhancing our distribution model through closer collaboration with likeminded monobrand partners, combining the strength of company-owned stores with a strong partner network. We are also improving store productivity by driving consistency in retail execution. This includes optimised visual merchandising and store design, focused sales training, and a more structured approach to clienteling.”
Annual report 2026A · The company itself
StrategyPositive impact: strengthens
“Our Win City concept concentrates product visibility, brand activation and retail presence in selected global cities. During the year, we expanded our Win City concept from four to seven cities, with the addition of San Francisco and Tokyo from the third quarter and Los Angeles at year-end. Collectively, the Win Cities reported sell-out growth of 18% for the year, having delivered double-digit growth for eight consecutive quarters. The performance was supported by our flagship openings in Paris and San Francisco and the uplifted Harrods store in London.”
Annual report 2026A · The company itself
StrategyPositive impact: strengthens
“At the centre of this approach is the Culture Store, a flagship format conceived as a destination and presenting the brand at the crossroads of luxury, culture and design. New flagships opened in priority cities including Paris, San Francisco and West Hollywood, existing locations such as Beijing's SKP store were upgraded to the concept, and Shenzhen became home to the first Culture Store in China.”
Annual report 2026A · The company itself
Market
“Like-for-like sell-out grew by 15%, and growth was reported across all channels and supported by doubledigit growth in branded channels.”
Annual report 2026A · The company itself
Market
“Like-for-like sell-out in our branded channels grew by 5% and growth was reported across all channels.”
Annual report 2026A · The company itself
Chains in: Consumer spending strengthens
Artificial intelligence
Technology
DriverPositive impact: strengthens
“In June 2024, we announced our six-year technology licensing partnership with TCL and the partnership with TCL continued to ramp up according to plan. In September 2025, RayNeo, a subsidiary of TCL, announced an audio partnership with Bang & Olufsen, extending the existing relationship to include AR glasses. The first glasses featuring Audio by Bang & Olufsen were launched in November 2025 and represented the latest product addition to the partnership.”
Annual report 2026A · The company itself
DriverNegative impact: weakens
“13BRisk There is a risk that Bang & Olufsen cannot remain competitive with peers who are investing heavily in product features powered by artificial intelligence.”
Annual report 2026A · The company itself
StrategyPositive impact: strengthens
“During the year, we continued the strategic investments initiated in 2024/25. Investments were directed towards product innovation, marketing, and retail optimisation.”
Annual report 2026A · The company itself
StrategyPositive impact: strengthens
“Development costs increased by DKK 35m to DKK 375m. Incurred development costs increased by DKK 28m to DKK 396m, partly offset by increased capitalisation driven by our product and software road map.”
Annual report 2026A · The company itself
StrategyPositive impact: strengthens
“From acoustics and material selection to software and connected experiences, product development combines technology, craftsmanship and long-standing design principles across teams. Decisions made during development can influence product longevity, repairability, energy use and client experience over time.”
Annual report 2026A · The company itself
Chains out: this strengthens Data centres, strengthens Semiconductors and electronic components, strengthens Semiconductor industry
E-commerce
Technology
StrategyPositive impact: strengthens
“This was partly attributable to the direct operation of our two largest eTail platforms following the takeover of the online flagship store on Tmall in April 2025.”
Annual report 2026A · The company itself
StrategyPositive impact: strengthens
“Growth was reported across channels and supported by the takeover Tmall in April 2025.”
Annual report 2026A · The company itself
Market
“Like-for-like sell-out grew by 15%, and growth was reported across all channels and supported by doubledigit growth in branded channels.”
Annual report 2026A · The company itself
Market
“Like-for-like sell-out for China grew by 8% and doubledigit sell-out growth was reported for eTail and multibrand.”
Annual report 2026A · The company itself
Automotive
End markets
DriverPositive impact: strengthens
“The TCL partnership continued to ramp up albeit impacted by quarterly fluctuations.”
Annual report 2026A · The company itself
Market
“We provide luxury sound systems to selected automotive brands and offer elevated audio experiences to premium proposition.”
Annual report 2026A · The company itself
Market
“Revenue related to the automotive industry was on par year-on-year.”
Annual report 2026A · The company itself
Media and entertainment
End markets
StrategyPositive impact: strengthens
“Brand equity and cultural gravity Our ambition is to build a culturally relevant brand that resonates with clients through meaning, desirability, and relevance, anchored in Beautiful Sound. Marketing investments are managed with discipline and aligned with our brand positioning, ensuring consistency and impact across all touchpoints, backed by data and analytics in decision-making. This supports strong brand salience, being recognisable, relevant, and trusted.”
Annual report 2026A · The company itself
StrategyPositive impact: strengthens
“Within cultural partnerships, we are rebalancing our efforts towards music in line with our ambition to deliver Beautiful Sound and strengthen our heritage and brand distinctiveness.”
Annual report 2026A · The company itself
StrategyPositive impact: strengthens
“This offering underpins our ambition to provide fully In terms of product collaborations, we engaged with three partners and launched limited editions of selected - based design studio Fragment Design, the Korean-based global artist G-DRAGON, and the British-based design house Vollebak.”
Annual report 2026A · The company itself
Aluminium
Raw materials and inputs
InputNegative impact: weakens
“Advancing circular product design and material choices Increased the number of products using technically recirculated aluminium and/or plastics from seven to eight and introduced recirculated NdFeB magnets for the first time.”
Annual report 2026A · The company itself
Market
“Revenue related to aluminium production for third parties increased compared to last year.”
Annual report 2026A · The company itself
Digitalisation
Technology
StrategyPositive impact: strengthens
“Development costs increased by DKK 35m to DKK 375m. Incurred development costs increased by DKK 28m to DKK 396m, partly offset by increased capitalisation driven by our product and software road map.”
Annual report 2026A · The company itself
StrategyPositive impact: strengthens
“From acoustics and material selection to software and connected experiences, product development combines technology, craftsmanship and long-standing design principles across teams. Decisions made during development can influence product longevity, repairability, energy use and client experience over time.”
Annual report 2026A · The company itself
Chains in: Cybersecurity (products and services) strengthens, Public investment and infrastructure strengthens
Chains out: this strengthens IT consulting and public-sector IT
Licensing and partnership deals in pharma
End markets
DriverNegative impact: weakens
“The development reflected the expected decline in license income from HP.”
Annual report 2026A · The company itself
StrategyPositive impact: strengthens
“298BLicense partnership expansion We are actively implementing our expanded license partnership approach, building and executing key initiatives with new and existing partners. We continue to evolve our unique brand audio offering by expanding our proprietary technology proposition through selected partnerships. We see a significant market potential in exploring this area and want to do more of what we do today.”
Annual report 2026A · The company itself
Premium consumers
End markets
Market
“We create for a distinct and discerning audience, the Design and Music Lovers who seek more than just sound. We cater to those who desire beauty, meaning, and connection in every interaction. For the people who value expressive design and immersive audio experiences that are both adaptive and interactive.”
Annual report 2026A · The company itself
Market
“We design, develop and deliver luxury audio and vision products and experiences, combining design, technology, materials and craftsmanship. We operate in the luxury segment, serving private clients and professional partners globally through own retail, partners and direct channels across consumer and professional audio markets.”
Annual report 2026A · The company itself
Chains in: Consumer spending strengthens
China
Geography
Market
“Like-for-like sell-out for China grew by 8% and doubledigit sell-out growth was reported for eTail and multibrand.”
Annual report 2026A · The company itself
Energy efficiency
Technology
StrategyPositive impact: strengthens
“From acoustics and material selection to software and connected experiences, product development combines technology, craftsmanship and long-standing design principles across teams. Decisions made during development can influence product longevity, repairability, energy use and client experience over time.”
Annual report 2026A · The company itself
Chains in: Carbon tax and ETS prices strengthens, EU climate and energy policy strengthens
Hospitality and leisure
End markets
Market
“We also offer a unique blend of design, sonic experiences and magic elements in hospitality solutions and luxury installations worldwide.”
Annual report 2026A · The company itself
Chains in: Consumer spending strengthens
Subscription models
Technology
StrategyPositive impact: strengthens
“Our business model is built on products designed for longevity and continued relevance. Value creation extends beyond the initial sale through service, repair, software updates, refurbishment and resale, supporting continued use and long-term client relationships.”
Annual report 2026A · The company itself
Data centres
Technology
InputNegative impact: weakens
“The increasing complexity of global supply chains, combined with geopolitical tensions, structural shifts in the technology component landscape, and acute constraints in the global memory chip (RAM) market driven by data centre demand means that securing reliable access to critical components is an operational and strategic priority. 17BRisk 18BThere is a risk that Bang & Olufsen is unable to secure timely access to critical components required for manufacturing. Global RAM shortages impact production continuity, product launch timelines, the company's ability to meet product demand or require costly spot market sourcing.”
Annual report 2026A · The company itself
Chains in: Artificial intelligence strengthens
Chains out: this strengthens Electricity, strengthens Copper
Rare earths and critical raw materials
Raw materials and inputs
InputNegative impact: weakens
“The increasing complexity of global supply chains, combined with geopolitical tensions, structural shifts in the technology component landscape, and acute constraints in the global memory chip (RAM) market driven by data centre demand means that securing reliable access to critical components is an operational and strategic priority. 17BRisk 18BThere is a risk that Bang & Olufsen is unable to secure timely access to critical components required for manufacturing. Global RAM shortages impact production continuity, product launch timelines, the company's ability to meet product demand or require costly spot market sourcing.”
Annual report 2026A · The company itself
Chains in: Wind power strengthens
Geopolitical uncertainty
Macro
DriverNegative impact: weakens
“We expect macroeconomic and geopolitical uncertainty, trade and cost pressures, and a more discerning and value-conscious clients to continue to shape sentiment over the year ahead.”
Annual report 2026A · The company itself
DriverNegative impact: weakens
“At the same time, the year proved challenging. Geopolitical tensions and economic uncertainty intensified during the year, and the sales performance of one of our new product launches was significantly lower than anticipated.”
Annual report 2026A · The company itself
DriverNegative impact: weakens
“The Middle East was affected by the regional conflict that escalated from late February. While the revenue impact was smaller than expected, revenue from the region declined by 16%.”
Annual report 2026A · The company itself
DriverNegative impact: weakens
“23BThere is a risk that evolving trade dynamics, including tariff changes, export controls, and shifting bilateral relationships in key luxury markets, combined with softness in consumer confidence in certain geographies, could impact demand for the luxury products.”
Annual report 2026A · The company itself
Chains out: this strengthens Defence budgets, strengthens Energy security, strengthens Tariffs and trade policy, weakens Global trade volumes, strengthens Sea freight and freight rates, weakens Reconstruction of Ukraine
Tariffs and trade policy
Macro
DriverNegative impact: weakens
“Two or more launches are expected no earlier than Q4 2026/27. · No deterioration of macroeconomic conditions in our main markets. · Exchange rates against DKK, including in particular USD, CNY and EUR, in line with current exchange rate levels overall. · No significant impact from change in tariffs compared to current levels. · No significant impact from change in supply and demand structures for memory chips.”
Annual report 2026A · The company itself
DriverPositive impact: strengthens
“In the Americas, a refund of paid IEEPA tariffs had a positive impact of DKK 20m.”
Annual report 2026A · The company itself
DriverNegative impact: weakens
“23BThere is a risk that evolving trade dynamics, including tariff changes, export controls, and shifting bilateral relationships in key luxury markets, combined with softness in consumer confidence in certain geographies, could impact demand for the luxury products.”
Annual report 2026A · The company itself
InputNegative impact: weakens
“The gross margin saw a positive impact from IEEPA tariff refunds at year-end of DKK 20m, compensating for the majority of total tariffs paid in 2025/26 of DKK 24m. The gross margin from product sales reached a record level, with improvements across all regions.”
Annual report 2026A · The company itself
Chains in: Geopolitical uncertainty strengthens
Chains out: this weakens Global trade volumes
Consumer spending
Macro
DriverPositive impact: strengthens
“Across the wider technology landscape, we expect growth to be driven increasingly by value, experience and design rather than by unit volumes, reflecting a maturing market in which consumers appear willing to invest selectively in products that offer enduring quality and meaningful differentiation. In audio specifically, we anticipate a continued shift toward high fidelity, considered design and integrated experiences that extend across the home. As demand moves up the value curve, we believe it moves toward the segment in which we operate.”
Annual report 2026A · The company itself
DriverNegative impact: weakens
“At the same time, the year proved challenging. Geopolitical tensions and economic uncertainty intensified during the year, and the sales performance of one of our new product launches was significantly lower than anticipated.”
Annual report 2026A · The company itself
DriverPositive impact: strengthens
“This was an increase of 3.7pp compared to last year. The gross margin improved across regions and product categories.”
Annual report 2026A · The company itself
Chains in: Inflation weakens
Chains out: this strengthens Retail, strengthens Hospitality and leisure, strengthens Premium consumers, strengthens Grocery retail and private label
Currency exposure
Macro
DriverPositive impact: strengthens
“133BRevenue Revenue was DKK 731m (2024/25: DKK 693m), corresponding to growth of 5.5% year-on-year (8.7% in local currencies) driven by growth across most markets. revenue and grew by 11.6% in local currencies (6.6% in reported revenue).”
Annual report 2026A · The company itself
DriverPositive impact: strengthens
“Currency movements had a positive impact on the gross margin of 0.6pp compared to last year.”
Annual report 2026A · The company itself
Other currencies
Macro
DriverPositive impact: strengthens
“133BRevenue Revenue was DKK 731m (2024/25: DKK 693m), corresponding to growth of 5.5% year-on-year (8.7% in local currencies) driven by growth across most markets. revenue and grew by 11.6% in local currencies (6.6% in reported revenue).”
Annual report 2026A · The company itself
DriverPositive impact: strengthens
“Currency movements had a positive impact on the gross margin of 0.6pp compared to last year.”
Annual report 2026A · The company itself
Business cycle and GDP growth
Macro
DriverPositive impact: strengthens
“11Revenue growth Revenue growth in local currencies is expected to be from 1% to 5%.”
Annual report 2026A · The company itself
Chains out: this strengthens Global trade volumes, strengthens Construction
Cybersecurity (products and services)
Technology
DriverNegative impact: weakens
“The sophistication of the global cyber threat landscape means that the digital infrastructure, client data, and operational systems require continuous and rigorous protection.”
Annual report 2026A · The company itself
Chains in: Cyber attacks and IT security risk strengthens
Chains out: this strengthens Digitalisation
Inflation
Macro
DriverNegative impact: weakens
“We expect macroeconomic and geopolitical uncertainty, trade and cost pressures, and a more discerning and value-conscious clients to continue to shape sentiment over the year ahead.”
Annual report 2026A · The company itself
Chains out: this weakens Consumer spending, strengthens Interest rates
Labour and wages
Raw materials and inputs
DriverNegative impact: weakens
“Bang & Olufsen's ability to deliver on its strategy depends on securing and retaining the right people across a range of critical capability areas, from software to the specialised craft skills that underpin the company's distinctive manufacturing heritage. 9BRisk There is a risk that Bang & Olufsen is unable to attract and retain critical talents as the market for specialised engineering and technology skills remains highly competitive.”
Annual report 2026A · The company itself
Real estate
End markets
DriverNegative impact: weakens
“There is a risk that Bang & Olufsen is not able to sustain and develop its retail partner network at the required speed to support the strategy. The luxury retail landscape faces structural challenges rising occupancy costs, evolving client channel preferences and demanding economics for luxury retail partners pose challenges for network expansion and thereby could impact brand visibility and long-term revenue growth.”
Annual report 2026A · The company itself
Chains in: Interest rates weakens
Telecoms and 5G
Technology
DriverPositive impact: strengthens
“In June 2024, we announced our six-year technology licensing partnership with TCL and the partnership with TCL continued to ramp up according to plan. In September 2025, RayNeo, a subsidiary of TCL, announced an audio partnership with Bang & Olufsen, extending the existing relationship to include AR glasses. The first glasses featuring Audio by Bang & Olufsen were launched in November 2025 and represented the latest product addition to the partnership.”
Annual report 2026A · The company itself
USD vs DKK/EUR
Macro
DriverMixed impact: mixed
“Two or more launches are expected no earlier than Q4 2026/27. · No deterioration of macroeconomic conditions in our main markets. · Exchange rates against DKK, including in particular USD, CNY and EUR, in line with current exchange rate levels overall. · No significant impact from change in tariffs compared to current levels. · No significant impact from change in supply and demand structures for memory chips.”
Annual report 2026A · The company itself
Chains out: this mixed effect United States
Asia and emerging markets
Geography
Geography
“In APAC, we introduced the Culture Store concept in China through the upgrade of our Shenzhen store in January 2026, as part of a broader upgrade of the store network in the market. Our Beijing SKP store was subsequently upgraded to the concept, with our Shanghai store following in June 2026 after financial year-end. In Singapore, we relocated and upgraded our store to the Culture Store concept in May 2026, marking the introduction of the concept in the market.”
Annual report 2026A · The company itself
Geography
“In terms of product categories, double-digit sell-out growth was reported across all categories in APAC.”
Annual report 2026A · The company itself
Geography
“185BRevenue Revenue in APAC was DKK 208m (Q4 2024/25: DKK 182m) and grew by 14.3% year-on-year (15.5% in local currencies) driven by growth across most markets. All channels reported growth, with branded channels and eTail reporting double-digit growth. revenue and grew by 18.3% in local currencies (20.2% in reported revenue).”
Annual report 2026A · The company itself
Geography
“Revenue by segment, DKKm Revenue by category, DKKm Sell-out grew by 11% compared to Q4 of last year and growth was reported across regions.”
Annual report 2026A · The company itself
Denmark
Geography
Geography
“140BRevenue Group revenue was DKK 2,468m, corresponding to a decline of 3.3% compared to last year (1.6% in local currencies).”
Annual report 2026A · The company itself
Europe
Geography
Geography
“140BRevenue Group revenue was DKK 2,468m, corresponding to a decline of 3.3% compared to last year (1.6% in local currencies).”
Annual report 2026A · The company itself
Nordics
Geography
Geography
“140BRevenue Group revenue was DKK 2,468m, corresponding to a decline of 3.3% compared to last year (1.6% in local currencies).”
Annual report 2026A · The company itself
Packaging
Raw materials and inputs
InputNegative impact: weakens
“Embedding circularity through certification and packaging improvements Achieved Cradle to Cradle Certified ® Bronze for Beosound Premiere, introduced two new packaging designs, and increased the use of FSC certified paper in our packaging.”
Annual report 2026A · The company itself
Chains out: this weakens Beer and beverages
Plastics and polymers
Raw materials and inputs
InputNegative impact: weakens
“Advancing circular product design and material choices Increased the number of products using technically recirculated aluminium and/or plastics from seven to eight and introduced recirculated NdFeB magnets for the first time.”
Annual report 2026A · The company itself
Chains in: Oil strengthens
United States
Geography
Geography
“In the Americas, we opened our largest flagship store to date in San Francisco in December 2025, featuring the Culture Store concept and spanning 346 m² of retail space. The store was the first of three planned openings in California, and was followed by the opening of our West Hollywood flagship in Los Angeles in May 2026, while the Palo Alto store is expected to open in the first half of 2026/27.”
Annual report 2026A · The company itself
Chains in: USD vs DKK/EUR mixed effect
Competitors mentioned in the report
No named competitors in the report.
Financial figures
| Revenue latest fiscal year | 2.47 bn DKK |
| Revenue growth vs. the year before, same method | -3.3 % |
| EBITDA reported by the company | N/A |
| Net debt debt incl. leasing minus cash | N/A |
| Diluted EPS per share | -0.7 DKK |
Source: annual report (ESEF) A. See the report
Criteria
| Profit | ✗ |
| Growing | ✗ |
| Healthy balance sheet | N/A |
Only the criteria that can be computed from financial statements on this page. The remaining criteria (such as price and dividend) need a share price and are in the analysis.