ANNOUNCEMENT OF FINANCIAL RESULTS FOR THE FIRST SIX MONTHS OF 2012/2013 FOR BOCONCEPT HOLDING A/S

12/5/2012 2:02 AM EST

BoConcept Holding
Half Year financial report

ANNOUNCEMENT OF FINANCIAL RESULTS FOR THE FIRST SIX MONTHS OF 2012/2013 FOR
BOCONCEPT HOLDING A/S

Despite a successful launch of its 2013 collection, BoConcept's level of
activity is affected by the prevailing difficult market conditions, causing the
group to make a downward adjustment of its guidance with regard to revenue,
expansion and profit on par with last year's level. However, BoConcept will at
the same time launch a range of promotional activities with the aim of ensuring
the profitability in the existing stores and that financial resources are
applied in the expansion of the group 

Herning, Denmark, 2012-12-05 08:02 CET (GLOBE NEWSWIRE) -- Second quarter of
2012/2013 (1 August 2012 to 31 October 2012) 

  -- Revenue was DKK 278.1 million compared with DKK 287.0 million last year,
     representing a 3.1% decline
  -- Same-store-sales (order intake) were up by 7.2%
  -- The gross profit margin was 42.6%, compared with 42.9% last year
  -- EBIT amounted to DKK 8.9 million, corresponding to an operating margin
     (EBIT margin) of 3.2%, versus 5.5% last year
  -- Seven new brand stores opened and nine closed in the course of the
     reporting period. The chain consisted of 250 stores at the balance sheet
     date

 First and second quarters of 2012/2013 (1 May to 31 October 2012)

  -- Revenue was DKK 524.8 million, corresponding to an increase of 3.7% on an
     annual basis.
  -- Same-store sales (order intake) were up by 6.9%
  -- The gross profit margin was 43.9%, compared with 42.7% last year
  -- EBIT was DKK 18.3 million, compared with DKK 14.3 million last year
  -- Pre-tax profit was DKK 16.4 million, which is on par with last year
  -- Ten new brand stores opened and fifteen closed in the course of the
     reporting period. The project department consists of 15 stores scheduled
     for opening in the second half of the 2012/2013 financial year
  -- The balance sheet total was DKK 551.6 million at 31 October 2012
  -- Cash flow before instalments on long term debt totalled DKK 5.9 million,
     compared with DKK 3.6 million last year

 Forecast for the 2012/2013 financial year

After six months of increasing uncertainty and toughening market conditions,
the management is forced to acknowledge the fact that current conditions make
it impossible to achieve the targets originally set. As a result, the group is
making a downward adjustment to its predicted revenue, number of new stores,
and profit for the 2012/2013 financial year. 

  -- Revenue is expected to be on par with the revenue generated in 2011/2012,
     as opposed to the previously predicted growth of 5-7%
  -- Same-store-sales (order intake) are still expected to be 3-5%
  -- Approx. 25-30 new stores will be opened -previous forecast: about 35 (net
     addition 0-5)
  -- EBIT margin is expected to remain on par with 2011/2012 (3.6%) as opposed
     to the previously predicted figure of 5%


         For further information contact CEO Torben Paulin or CFO Hans
Barslund, on tel. +45 70 13 13 66.