FIRST QUARTER 2012/2013 FINANCIAL RESULTS FOR BOCONCEPT HOLDING A/S

8/29/2012 7:31 AM EST

BoConcept Holding
Quarterly report

FIRST QUARTER 2012/2013 FINANCIAL RESULTS FOR BOCONCEPT HOLDING A/S

BoConcept has maintained increase in earnings and same-store-sales in the face
of the high volatility still prevailing on the western markets. Based on the
results achieved in the first quarter, the previously published forecast for
2012/2013 is maintained 

Herning, Denmark, 2012-08-29 13:31 CEST (GLOBE NEWSWIRE) -- First quarter
2012/2013 (1 May to 31 July 2012) 

  -- Revenue was DKK 246.8 million, up 12.7% on the same period last year.
     Foreign exchange rate changes brought about an increase of 9.2%
  -- Same-store-sales (order intake) were up by 6.6%
  -- Gross profit margin was 45.5%, compared with 42.5% last year
  -- Operating profit (EBIT) amounted to DKK 9.3 million, corresponding to an
     operating margin (EBIT margin) of 3.8%, versus minus 0.8% last year
  -- Profit before tax was DKK 9.6 million compared with DKK 0.1 million in the
     corresponding period last year
  -- The group opened three new brand stores and closed six, resulting in a
     total of 252 stores at the balance sheet date
  -- We have thirteen stores in phase three of the pipeline, and 59 in phase two
  -- The balance sheet total was DKK 550.7 million at 31 July 2012
  -- Cash flow before instalments on long term debt totalled DKK 4.2 million for
     the reporting period, compared with DKK 4.3 million last year



Forecast for the 2012/2013 financial year

Against the backdrop of the satisfactory developments in the first quarter of
2012/2013, when the group's 60th anniversary collection was favourably
received, management maintains its expectations of continued growth and
increased earnings in the 2012/2013 financial year. It should be noted that the
number of new stores will be higher in the second half of the financial year,
and that expectations can only be attained if market conditions are stable. 

  -- Predicted growth in group revenue of 5 to 7%
  -- Growth in same-store-sales (order intake) of 3-5%
  -- Scheduled opening of 35 new stores
  -- EBIT margin of about 5%
  -- Cash flow before instalments on long-term debt of 2% of revenue
  -- Investments of about DKK 30 million