FIRST QUARTER 2010/2011 FINANCIAL RESULTS FOR BOCONCEPT HOLDING A/S
The number of eligible franchisee applicants is on the increase, which causes
us to increase expectations to the predicted number of brand store openings.
First quarter (Q1) 2010/2011 (1 May to 31 July 2010)
• Revenue was DKK 233.2 million, up 11.8% on the same period last year
• Same-store-sales rose by 8.2% in terms of invoicing and by 5.3% in terms of
order intake
• The gross profit margin was 41.9%, compared with 41.7% last year
• The operating margin (EBIT percentage) was 1.7%, compared with minus 0.8% the
year before
• Pre-tax profit was DKK 2.8 million, compared with a loss of DKK 3.7 million
the year before
• Four new BoConcept brand stores opened and six closed in the course of the
reporting period
• The balance sheet total was DKK 508.7 million at 31 July 2010, versus DKK
503.5 million at the beginning of the financial year
• Cash flow for the reporting period amounted to DKK 1.9 million before
instalments on long-term debt, compared with DKK 15.8 million last year
Forecast for the 2010/2011 financial year
We are maintaining our forecast for the 2010/2011 financial year, but
increasing our previously predicted number of new brand stores from 25 to
30-35. BoConcept Holding thus expects to realise:
• revenue growth of 5-10% on the preceding financial year, made up of a 5-10%
increase in same-store-sales and the effect of a net addition of at least ten
new brand stores
• an operating margin (EBIT percentage) of 3-4%
• an expected positive cash inflow before instalments on long-term debt of
approximately 3% of revenue
