try this
int labelcode = Convert.ToInt32(cmbboxLabel.SelectedValue);
ValueMember is a string that tells the ComboBox which attribute of the bound object to give back with SelectedValue.
If your underlying class looked like this:
public class Example
{
public string Title {get; set;}
public int Value {get; set;}
}
Then you would set combobox.DisplayMember to "Title" and combobox.ValueMember to "Value".