· Despite the challenging macro-economic climate, revenue grew by 9.0% in the
2007/2008 financial year, amounting to DKK 1,141.9 million, which coincides
with the most recent forecast.
· The profit before tax is DKK 67.7 million for the 2007/2008 financial year
(DKK 72.7 million before costs related to employee shares) against DKK 61.7
million in the 2006/2007 financial year, which is within the forecast interval.
· The operating margin increased from 6.6% last year to 6.9% for the 2007/2008
financial year.
· Cash flow before instalments on long-term debt was DKK 49.5 million for the
2007/2008 against DKK 25.7 million in the 2006/2007 financial year and is thus
above the forecast.
· A total of 38 new BoConcept Brand Stores were opened and seven have closed
during the financial year, resulting in a net addition of 31 BoConcept Brand
Stores, which coincides with the forecast.
· BoConcept Holding maintains its strategic direction and its focus on
profitable growth. However, due to the macro-economic slowdown in the economy,
it will most likely take a year longer than first anticipated to realise the
group's long-term objectives: by the end of the 2011/2012 financial year as
opposed to our previous announcement of 2010/2011.
· The forecast for the 2008/2009 financial year is a pre-tax profit of between
DKK 75 and 90 million and a cash inflow of at least DKK 35 million before
instalments on long-term debt. Revenue is expected to grow by 8-10% on
2007/2008.
· The supervisory board has decided to begin repurchasing up to DKK 18 million
of the company's treasury shares in accordance with the authority granted by
the shareholders in general meeting. Furthermore, the supervisory board will
submit a proposal at the general meeting that dividends be paid for the
2007/2008 financial year in the amount of DKK 8 per share. Dividend and share
buy-back amount to a total of DKK 39 million, corresponding to 80% of the
result after tax.
For further information, please contact President & CEO, Viggo Mølholm, or Vice
President & CFO, Hans Barslund on telephone number: +45 7013 1366
The BoConcept chain is the retail-oriented concept holder of the global
franchise chain and the global brand of BoConcept. The chain represents the
best co-ordinated designer furniture and accessories in the industry. The
collection, store concept, consumer communications and supply chain are
controlled from the headquarters in Denmark.
BoConcept Brand Stores are independent stores with floorages of between 400 and
800 m2 in attractive locations while Studios are in-store departments with
floorages of between 100 and 400 m2 located in existing furniture stores. As at
30 April 2008 there were 224 Brand Stores and 132 Studios in 44 markets.
