Billabong International Ltd. reaffirmed earnings guidance for the second half of 2009. The company expects a strong second half net profit in constant currency due to cost cutting and stronger foreign currency hedge rates. The company said the group was reaffirming prior guidance. The company said earlier guidance of 5% net profit guidance in constant currency terms translated to flat net profit growth on currency assumptions in August of an Australian/US dollar exchange rate of 83 cents and an Australian dollar/Euro exchange rate of 58 cents.

Billabong International Ltd., Annual General Meeting, Oct 27, 2009, at 10:00 EAST-East Australian Standard GST. Location: Conrad Jupiters, Surfers Paradise Rooms I & I, Broadbeach Island, Broadbeach, QLD 4220,Australia. Agenda: To receive and consider the financial report, including the directors' declaration, for the year ended 30 June 2009 and the related directors' report and audit report; to approve the re-election of directors; to approve remuneration report; to award executive directors under the executive performance share plan; and to consider the approval of adjustment of exercise price of options .

Billabong International Ltd. reported consolidated and parent earnings results for the year ended June 30, 2009. For the year, the company reported parent profit before income tax of AUD 117,784,000, profit for the year and profit attributable to the company of AUD 117,873,000 on revenue from continuing operations of AUD 137,046,000 as compared to profit before income tax of AUD 25,534,000, profit for the year and profit attributable to the company of AUD 28,685,000 on revenue from continuing operations of AUD 64,453,000 for the same period last year. Net cash outflow from operating activities was AUD 2,009,000 as compared to net cash inflow from operating activities was AUD 3,618,000 for the same period last year. For the year, the company reported consolidated net cash inflow from operating activities was AUD 175,685,000 as compared to net cash inflow from operating activities was AUD 153,207,000 for the same period last year. Payments for purchase of subsidiaries and businesses, net of cash acquired was AUD 143,760,000 and payments for property, plant and equipment was AUD 65,355,000 as compared to payments for purchase of subsidiaries and businesses, net of cash acquired was AUD 90,688,000 and payments for property, plant and equipment was AUD 54,688,000 for the same period last year.