On 28 August 2008, the supervisory board of BoConcept Holding A/S adopted the
financial statements for the first quarter of 2008/2009, which covers the
period from 1 May to 31 July 2008.
Compared to last year, revenue and profit declined during the period under
review as a result of unfavourable market conditions, with less demand for
durable consumer goods resulting from the global macroeconomic recession.
· Owing to a 12% decline in same-store-sales, revenue amounted to DKK 265.2
million in the first quarter of 2008/2009, down by 3.4% from the comparative
period of last year
· The primary segment - BoConcept Brand Stores - experienced a growth of 3.7%
· Profit before tax was DKK 13.8 million in the first quarter of 2008/2009,
compared with DKK 17.4 million last year
· The operating margin for the quarter was 6.0%, versus 6.9% in the
corresponding period last year
· The balance sheet total was DKK 543.1 million at 31 July 2008, down DKK 11.5
million from the corresponding period last year
· There was a negative cash flow of DKK 9.9 million before instalments on
long-term debt, primarily as a result of a drop in trade creditors
· Since the beginning of the financial year, BoConcept has opened ten new Brand
Stores, and no stores have been closed
· The group maintains its forecast for the 2008/2009 financial year of a
pre-tax profit of between DKK 75 and 90 million and a revenue increase of 8-10%
· The group maintains its forecast of a positive cash flow of at least DKK 35
million before instalments on long-term debt
For further details, please contact President & CEO Viggo Mølholm or Vice
President & CFO Hans Barslund on tel. +45 70 13 13 66.
