Report
Beter Bed Holding N.V.
Linie 27 (7689)
Phone: +31 13338811p:+31 13338811 UDEN, 5405 AR  Netherlands Ticker: BBEDBBED


Beter Bed Holding sees continued strong sales and achieves higher net result over H1 2021


Beter Bed Holding N.V. (BBH) – the Netherlands’ leading sleep specialist in retail, wholesale and B2B – today announced its results for the second quarter and first half year ended 30 June 2021.

Highlights first half 2021

  • Building on strong fundamentals in the online channel allowed us to moderate the effect of the mandatory lockdowns in Q1 2021, and to show a modest growth of 0.6% in sales of continuing operations in H1 2021 to € 97.2 million. Sales in the Benelux amounted to € 91.1 million (-1.0% LFL) and New Business amounted to € 6.1 million (+40.8% LFL).
  • Q2 sales growth amounted to 15.5% with the Benelux growing by 14.2% LFL and New Business by 69.6% LFL respectively.
  • Gross profit increased by 5.0% to € 54.3 million, resulting in net profit from continuing operations of € 4.1 million (+ 43.7%) for H1 2021.
  • Order book increased by 11.3% to € 24.7 million versus one year ago, driven by 13.3% LFL order intake in Q2.
  • Online sales for the Group have grown 123%, leading to a channel share of 32.7%, particularly due to a continuing strong performance in Q2 of +40.4% in the Benelux and +128% for New Business.
  • Initiatives underpinning the new strategic direction are being implemented:
    • New shop format Beter Bed to go live in the Netherlands in Q3.
    • Launch of subscription label 'Leazzzy'.
    • Streamlined organisational structure by integrating Holding and Business directors into one management team.
    • New role focused on sustainability, CSR and Innovation has been established.
    • Sale of Sängjätten, the Swedish operations, successfully concluded.
  • Financial position further strengthened: new financing agreement with ABN AMRO for three years replacing current facilities and perpetual loan including accrued interest repaid in cash per 20 July 2021, which clears the way to present a revised dividend policy subject to final shareholder approval. In the near term we intend to remediate the impact on our solvency as a result of the repayment of the perpetual loan.
  • Outlook FY 2021: notwithstanding the current economic and health uncertainties in relation to COVID-19 we continue to feel confident delivering our 2025 medium-term objectives as presented in our Strategy Update.

John Kruijssen, CEO of BBH, comments:
"COVID-19 continued to impact the retail landscape, with the vast majority of stores closed or opened with restrictionsfrom mid-December 2020 until end of April 2021. Through a strong increase in online sales, as well as the successfulimplementationof"shoppingbyappointment"andthoroughpreparationsenablingasmoothreopening,theGrouphas been able to meet the sales levels of the first half of 2020. This is a true testament of the agility of the Group, andwe have launched our new mid-term strategic plan to further build on this. We are in good shape to execute on thisplan, with a new financing agreement in place for the next three years and the successful divestment of the Sängjättenoperations in Sweden. With a streamlined and focused organisation, we can build on major global trends shaping thefuture of the bedding industry. We are launching many initiatives underpinning our strategy, including the opening ofan experience store in the next quarter, the launch of our very first subscription label Leazzzy and our new CSR strategywill be presented. Although the current market circumstances still ask for some caution, we are well underway toachieveourlong-termambitionsforacceleratedgrowth."

Please click on the link below for the full version of the press release including interim financial statements 2021. Press photos can be downloaded here. 


Attachment



Related Businesses
- - Customer

Copyright © 2021 by CreditRiskMonitor.com (Ticker: CRMZ®). All rights reserved.  You are not permitted to use this report or the information contained herein for any purpose not expressly permitted by CreditRiskMonitor.com, Inc. Except as expressly permitted by CreditRiskMonitor.com, Inc., you are not permitted, in whole or in part, to copy, alter, correct, adapt, translate, enhance, lease, sell, sublicense, assign, distribute, publish, otherwise make available to any third party, or prepare derivative works or improvements of this report or any of the information contained therein. You are not permitted to reverse engineer, disassemble, decompile, decode, or adapt the software, algorithms or other processes used to prepare this report, or otherwise attempt to derive or gain access to the source code of same. You agree not to remove, alter, obscure, combine or otherwise change any disclaimers, trademarks, copyrights, other intellectual property rights, proprietary rights, or other symbols, notices, marks, or serial numbers on or relating to any copy of the report or on marketing or other materials that CreditRiskMonitor.com, Inc. may provide to you. You will not use this report in any manner or for any purpose that infringes, misappropriates, or otherwise violates any right of any party, or that violates any applicable law.  
The FRISK® scores, agency ratings, credit limit recommendations and other scores, analysis and commentary are opinions of CreditRiskMonitor.com, Inc. and/or its suppliers, not statements of fact, and should be one of several factors in making credit decisions.  Any reliance you place on the information in this report is strictly at your own risk. Except as expressly provided by CreditRiskMonitor.com, Inc., no warranties or representations of any type, including without limitation of results to be obtained, merchantability or fitness for a particular purpose, are made concerning any part of CreditRiskMonitor.com, Inc.’s service, including without limitation the FRISK® scores.  The information published above has been obtained from sources CreditRiskMonitor considers to be reliable.  CreditRiskMonitor.com, Inc. and its third-party suppliers do not guarantee or validate the accuracy and completeness of the information provided in this report, the underlying information input to create the FRISK® scores, and specifically do not assume responsibility for not reporting any information omitted or withheld.  By using this website, you accept the Terms of Use Agreement
Contact Us: 845.230.3000
Fundamental financial data concerning public companies may be provided by Refinitiv (click for restrictions)
Saturday, July 31, 2021