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BoConcept Holding A/S, formerly Denka Holding A/S, is a retail-oriented holding company based in Denmark. Its product range comprises furniture and lifestyle products. Its activities include design, branding, store management, sales model optimization and supply chain management (SCM). It concentrates on developing and providing support to and supplying goods to its global franchise-based retail chain. Through its brand stores and studios, it has a presence on approximately 50 markets worldwide. In 2008 and 2009, the Company entered six new markets: Egypt, Mexico, Singapore, Qatar, Italy and Switzerland. It mainly operates through wholly owned subsidiary BoConcept A/S, which specializes in the development, production and distribution of furniture and accessories, through its seven subsidiaries: BoConcept Retail UK Ltd, BoConcept France Sarl, BoConcept Retail Poland sp. z o.o., BoConcept Japan KK, BoConcept North America Inc, BoConcept Germany GmbH and BoConcept Danmark A/S.

BoConcept Holding A/S realises better result and cash flow than expected in the 2009/2010 financial year
The executive and supervisory boards of BoConcept Holding A/S have today approved the annual report for the financial year 2009/2010. The annual report for 2009/2010 includes the following highlights:
• Revenue was DKK 910.2 million in the 2009/2010 financial year, which is 9.4% lower than for the previous year. Although revenue was affected by the challenging sales conditions prevailing worldwide, it was in line with the most recently published forecast, cf. announcement 1/2010 dated 3 March 2010 
• Same-store-sales for the full 2009/2010 financial year fell by 7% in terms of invoicing and rose by 1% in terms of order intake. As predicted, franchise chain same-store-sales improved significantly during the financial year and increased by 11% in terms of invoicing in the fourth quarter of the financial year 2009/2010 and 19% in terms of order intake
• A total of 21 new brand stores opened and 30 closed in the 2009/2010 financial year. New stores were opened both in existing principal markets and in new growth markets
• Group revenue rose in the 2009/2010 financial year as a result of efficiency improvements and savings throughout the value chain, and the group realised an EBIT of 1.4%, versus minus 1.2% the previous year
• Profit before tax was DKK 9.6 million in the 2009/2010 financial year compared with a DKK 29.6 million loss last year, which is a better result than was expected
• Helped along by a favourable profit trend and determined efforts to reduce working capital, the group generated cash flow before instalments on long-term debt amounting to DKK 77.8 million, or 8.5%, of revenue. Cash flow exceeded expectations by far
• For the financial year ahead, the group expects a revenue increase of 5-10%, an EBIT of 3-4% and cash flow before instalments on long-term debt of 3% of revenue

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