ANNOUNCEMENT OF FINANCIAL RESULTS FOR THE FIRST QUARTER OF 2014/2015 FOR BOCONCEPT HOLDING A/S

For the second consecutive quarter, BoConcept significantly improved revenues and same-store-sales. The financial results improved in the first quarter of 2014/2015, and we have been working hard since the beginning of the financial year to prepare the launch of BoConcept's upgraded collection, concept and communications platform in September. We are maintaining our forecast for financial trends for the 2014/2015 financial year.

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| Source: BoConcept Holding
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First quarter of 2014/2015 (1 May 2014 to 31 July 2014)

  • Revenue was DKK 267.2 million, up 8.3% on last year
  • Same-store-sales (order intake) were up by 10.6%
  • The gross profit margin was 42.1%, compared with 42.2% last year
  • EBIT, which was a loss of DKK 5.6 million compared with a loss of DKK 11.6 million last year, had been affected by non-recurring costs for the collection switch-over
  • With four new brand stores having opened and eight closed, the chain consisted of 262 stores at 31 July 2014
  • There are eleven new stores in the project department
  • The balance sheet total was DKK 598.7 million at 31 July 2014
  • Cash flow before instalments on long-term debt was a cash outflow of DKK 31.1 million, compared with a cash outflow of DKK 29.8 million last year

 

Forecast for the 2014/2015 financial year

Management focuses on growth in revenue and earnings, driven by the successful launch and implementation of the new collection and concept and by greater efficiency throughout the value chain. Following th first-quarter developments, we maintain our predictions for the 2014/2015 financial year: 

  • Revenue growth of 5-8% with positive contributions from same-store-sales and a higher number of stores
  • EBIT of approx. 2-3%, driven by revenue growth and improved efficiency.

         For further information, please telephone President and CEO Torben Paulin or CFO Hans Barslund on +45 7013 1366.