• 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 2007/08 financial year, which is within the forecast interval • The operating margin decreased to minus 1.2% in the 2008/09 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-shares
Preliminary announcement of the financial statements for 2008/2009 for BoConcept Holding A/S
| Source: BoConcept Holding