BoConcept achieves record financial results for the first six months of 2015/2016, based on continued revenue increase, greater efficiency and a positive foreign exchange rate effect. The implementation of optimisation measures remains undiminished, and our forecast for the financial years 2015/2016 and 2016/2017 is upgraded.
Second quarter of 2015/2016 (1 August 2015 to 31 October 2015):
- Revenue was DKK 331.0 million, up by 13.0% on last year
- Same-store-sales (order intake) were up by 14.4%
- The gross profit ratio for the period was 41.8% compared with 39.5% last year
- EBIT was DKK 39.7 million, corresponding to an EBIT % of 12.0%
- After the opening of six new brand stores and the closure of five, the total number of stores in the chain was 256 stores at 31 October 2015
First six months of 2015/2016 (1 May 2015 to 31 October 2015):
- Revenue was DKK 637.9 million, up by 13.9% on last year
- Same-store-sales (order intake) were up by 15.4%
- The gross profit ratio was 41.0%, compared with 40.8% last year
- EBIT was DKK 69.1 million, corresponding to an EBIT % of 10.8%
- The balance sheet totalled DKK 533.3 million at 31 October 2015
- Cash flow before instalments on long-term debt was an inflow of DKK 73.6 million, compared with an outflow of DKK 38.9 million last year
Forecast for the financial years 2015/2016 and 2016/2017:
In the second quarter of the 2015/2016 financial year, revenue, profit and cash flows continued their highly satisfactory trend thanks to high sales momentum in the chain and targeted execution of the Horizon 16/17 initiatives. Despite revenue growth prospects for the second half of the 2015/2016 financial year being more modest, we make the following upward adjustment to our latest forecast:
- Revenue up by about 7-8% (previously: approx. 5%)
- EBIT in the region of 7-8% (previously: 5-6%)
Based on the trend in the first six months of 2015/2016, management is also pleased to report that the initiatives launched under Horizon 16/17 - the strategic optimisation of our business model, which was originally launched in 2014 – have been implemented faster and more efficiently than originally estimated. With this in mind, we upgrade our forecast operating margin (EBIT %) of 5-7% to 8-10% for the 2016/2017 financial year.
For further information, please telephone CEO Torben Paulin or CFO Hans Barslund on +45 7013 1366
