As a result of the challenging macroeconomic climate, revenue for the 2008/2009
financial year fell by 12.0% compared to last year, amounting to DKK 1,004.8
million, which coincides with the most recent forecast
• The loss before tax is DKK 29.6 million for the 2008/2009 financial year
against a profit
before tax of DKK 67.7 million in the 2007/2008 financial year, which is within
the forecast
interval
• The operating margin decreased to minus 1.2% in the 2008/2009 financial year
against 6.9% last year
• Cash flow before instalments on long-term debt was DKK minus 48.1 million
for 2008/2009 against DKK 49.5 million in the 2007/2008 financial year and is
thus above the most recent forecast
• A total of 44 new BoConcept Brand Stores were opened and 21 were closed
during the financial year, resulting in a net addition of 23 BoConcept Brand
Stores, which is below the forecast due to an increased number of closures
• A number of restructuring initiatives have been implemented in 2008/2009,
resulting in a reduction in the company's capacity costs of DKK 50 million as
full-year effect, of which DKK 40 million is with effect in the 2009/2010
financial year
• The forecast for the 2009/2010 financial year is a break even result before
tax and positive cash flow before instalments on long-term debt of 2-3% of the
revenue. Revenue is expected to decline by 10-15% compared to the 2008/2009
financial year
• To improve the group's financial resources the supervisory board will
recommend to the company in general meeting that its share capital be increased
by up to 9.99% by means of a direct issue of new class B-sharesue
