In announcement 8 / 2015 of 13 May 2015 Stylepit A/S stated its expectations for the financial year (July 1-June 30) revenue of DKK 360 million. and a negative EBITDA of DKK 28 million. The preliminary accounts for 2014/15 show a turnover of DKK 364 million. and a negative EBITDA of DKK 30 million. The correction in EBITDA is due to a provision for an internal trade loss between group companies.


In its review of the accounts for 2014/15, the company has also performed relevant impairment tests of its assets. This has resulted in an extraordinary write-down of capitalized IT costs by DKK 6.9 million. The total IT investment is activated by DKK 2.3 million.

As a result of the performed impairment tests with a resulting impairment provision the Stylepit A/ S profit before tax will reach a loss of DKK 52 million.

Shareholders' equity at 30 June 2015, will amount to DKK 13.6 million. Equity will subsequently be re-established with the planned capital increase.


All previously committed warrant programs have contractually been cancelled and the effect thereof expensed.


Outlook for financial year 2015/16


Stylepit A/S has implemented an ongoing restructuring and has changed its cost base to a level corresponding to the expected sales level and continually adapted to the market conditions in a market with continued strong competition. Based in Copenhagen, its storage and shipping facilities in Poland and its IT development in Eastern Europe, considers the company as positioned to serve the growing market for trade over the net.


The company will in 2015/16 to focus on the Danish and Nordic home market, while earlier plans an aggressive growth strategy throughout Europe is not part of this year's plans. On this basis, expects Stylepit A/S in the financial year 2015/16 revenue of around DKK 350 million. and a modest but positive EBITDA. The decrease in revenue and the simultaneous improvement of EBITDA is based on a continued low prioritization of unprofitable markets.


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