Beter Bed: growth in revenue and profit in all countries

* Revenue rose by 10.4% to EUR 83.9 million in the second quarter (like-for- like: 7.7%). * EBIT is expected to be EUR 1.3 million higher in the second quarter of 2015. Beter Bed Holding had a positive second quarter of 2015. All the countries in which Beter Bed operates realised higher revenue. Revenue in Germany rose by 9.1% in the second quarter, due in part to promotions and new advertising campaigns. Revenue at comparable stores in Germany increased by 9...

• Revenue rose by 10.4% to EUR 83.9 million in the second quarter (like-for-like: 7.7%).
• EBIT is expected to be EUR 1.3 million higher in the second quarter of 2015. 

Beter Bed Holding had a positive second quarter of 2015. All the countries in which Beter Bed operates realised higher revenue.

 

Revenue in Germany rose by 9.1% in the second quarter, due in part to promotions and new advertising campaigns. Revenue at comparable stores in Germany increased by 9.4% in the second quarter.

 

Revenue in the Netherlands increased by 9.7% in the second quarter due in part to an upturn in demand and to commercial promotions. Revenue at comparable stores in the Netherlands increased by 5.7% in the second quarter.

 

Austria, Switzerland, Spain and Belgium achieved increased revenue with like-for-like growth of 14%, 22.7%, 10.9% and 45.5% respectively in the second quarter.

 

The company's total revenue amounted to EUR 186.1 million in the first six months of 2015 (an increase of 10.3% compared to H1 2014). Total revenue at comparable stores rose by 9.1% in the first six months of 2015.

 

Gross profit  

Gross profit decreased to 56.7% (Q2 2014: 57.7%) due to commercial promotions (including free delivery). This is attributable to the fact that as of the fourth quarter of 2014 the costs of free deliveries will no longer be recognised as expenses, but will instead be accounted for in the gross profit. Excluding these expenses, gross profit amounted to 57.3% in the first six months of 2015 (H1 2014: 57.2%).

 

Expenses

Operational expenses rose by 5.6% in the second quarter to EUR 46.3 million, primarily as a result of higher staff costs, depreciation and marketing spending.

 

Operating profit (EBIT)

Beter Bed expects operating profit in the second quarter of 2015 to be EUR 1.3 million higher than in the same period of last year. Excluding non-recurring income of EUR 0.9 million that was accounted for in the second quarter of 2014, the underlying operating profit rose in the second quarter of 2015 by approximately EUR 2.2 million compared to the second quarter of 2014. Due to the seasonal pattern revenue and net profit are generally at a lower level in the second quarter.

 

Beter Bed Holding N.V. will publish its final interim figures before the opening of the stock exchange on 28 August 2015.

 

 

Profile

Beter Bed Holding N.V. operates in the European bedroom furnishings market. Its activities include retail trade through a total of 1,121 stores at the end of June 2015 that operate via the chains Beter Bed (active in the Netherlands and Belgium), Matratzen Concord (active in Germany, Switzerland and Austria), El Gigante del Colchón (active in Spain) and Beddenreus (active in the Netherlands). Beter Bed Holding is also active in the field of developing and wholesaling branded products in the bedroom furnishing sector in the Netherlands, Germany, Belgium, Spain, Austria and Switzerland via its subsidiary DBC International. Beter Bed Holding N.V. achieved net revenue of EUR 364.0 million in 2014. 70% of the group's net revenue is realised outside the Netherlands. The company has been listed on the NYSE Euronext Amsterdam since 1996 and is included in the Amsterdam Small Cap Index.

 

For further information:

 

Ton Anbeek	Bart Koops
CEO	CFO
+31 (0)413 338819	+31 (0)413 338819
+31 (0)6 53662838	+31 (0)6 46761405
ton.anbeek@beterbed.nl	bart.koops@beterbed.nl

Please click on the link below for the Pdf version of the press release.

 

 

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