Bang & Olufsen

Earnings Release • Jan 19, 2011

-- The Group's total turnover for the first half of the 2010/11 financial
year was DKK 1,336 million against DKK 1,234 million last year, which
equates to a growth of 8 per cent. Turnover for the second quarter was DKK
775 million against DKK 669 million for the same period last year,
equating to a growth of 16 per cent.

-- During the second quarter, Bang & Olufsen launched BeoVision 10-32, a new
member of the highly acclaimed BeoVision 10 family. In addition, during
the second quarter, the Group launched BeoSound 8, which can function as a
speaker dock for iPad, iPhone and iPod as well as a speaker for PCs and
MACs. Both products have been well received by the markets.

-- Result before tax was positive at DKK 2 million against a negative result
of DKK 100 million for the same period last year. Result before tax in the
second quarter was positive at DKK 36 million against a negative result of
DKK 48 million in the second quarter of 2009/10.

-- The Group's gross margin for the first half of the 2010/11 financial year
was 41.2 per cent against a gross margin of 38.9 per cent for the same
period last year. The Group's gross margin for the second quarter was 42.1
per cent against 38.0 per cent for the same quarter of the 2009/10
financial year.

-- The Group's turnover for the audio-video business for the first half of
the 2010/11 financial year was DKK 1,088 million against DKK 1,089 million
for the same period last year. In the second quarter the turnover in the
audio-video business was DKK 630 million against DKK 588 million for the
same period last year, which equals a growth of 7 per cent.

-- Automotive continued to show progress and increased the turnover by DKK
102 million from DKK 117 million in the first half year of 2009/10 to DKK
219 million in the first half year of 2010/11. In the second quarter the
turnover was DKK 128 million against DKK 68 million for the same period
last year.

-- The net number of B1 shops was reduced by three during the second quarter,
whereas there was a reduction of 13 shops in the first quarter of the
2010/11 financial year. The Group continues its intensified focus on
recruiting new shops.

-- Bang & Olufsen maintains the expectations that the 2010/11 financial year
as a whole will result in a positive development in turnover and a
positive result before tax. The Group expects the gross margin to increase
marginally compared to the 2009/10 financial year.

Ole Andersen
Karl Kristian Hvidt Nielsen
Chairman
President, CEO

Enquiries about this announcement can be addressed to:

President & CEO Karl Kristian Hvidt Nielsen, phone: +45 9684 5000.

iPod, iPhone and iPad aretrademarks of Apple Inc., registered in the U.S. and
other countries.