Beter Bed: growth in revenue and EBITDA in second quarter
15 Juillet 2016 - 8:00AM
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Revenue rose by 7.0% to €
89.8 million (like-for-like growth: 2.5%).
-
Average number of stores
rose by 3.3%.
-
Online revenue rose by
67.8% to € 2.5 million.
-
EBITDA rose by 16.8% to €
4.3 million.
Beter Bed Holding has had a positive second quarter.
Revenue in the Netherlands rose by 21.1% in the
second quarter due in part to an upturn in demand, commercial
promotions and a high order portfolio at the beginning of the
quarter.
Revenue in Germany decreased by 2.2% in the second
quarter due to a strong comparative basis (like-for-like Q2 2015:
9.4%) and disappointing market demand.
Austria, Spain and Belgium achieved increased
revenue of 21.6%, 14.1% and 37.8% respectively in the second
quarter. Revenue fell by 3.0% in Switzerland.
The company's total revenue amounted to € 196.6
million in the first six months of 2016. This is an increase
of 5.7% in comparison to the first six months of 2015. Total
revenue at comparable stores rose by 3.5% in the first six months
of 2016. Online revenue increased by 60.2% to € 5.4 million in the
first six months of 2016.
Gross
profit
As a result of improved purchasing conditions and range
improvements, gross profit rose to 57.4% in the second quarter of
2016 (Q2 2015: 56.7%).
Expenses
Operating expenses increased by 8.2% to € 50.1 million in the
second quarter of 2016. In the first six months expenses rose by
6.0%. Expenses rose in part due to an increase in the average
number of stores as a result of expansion and acquisitions. In
addition, the non-recurring expenses, the largest proportion of
which is connected with the strategy development, amounted to
approximately € 1 million in the second quarter of 2016. Excluding
these non-recurring expenses, the increase in expenses in the
second quarter would have been 6.0%.
EBITDA
Beter Bed Holding expects to achieve an EBITDA of € 4.3 million in
the second quarter (Q2 2015: € 3.7 million). Revenue and net
profit are generally at a lower level in the second quarter due to
the seasonal pattern.
Beter Bed Holding N.V. will publish its final
interim figures before the opening of the stock exchange on 30
August 2016.
Profile
Beter Bed Holding is a European retail organisation that strives to
offer its customers a comfortable and healthy night's rest every
night at an affordable price. The company does this via stores and
its own web shops through the formats:
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Matratzen Concord, located in Germany,
Switzerland and Austria.
-
Beter Bed, located in the Netherlands and
Belgium.
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Beddenreus, located in the Netherlands.
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El Gigante del Colchón, located in Spain.
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Literie Concorde, located in France.
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Sängjätten, located in Sweden.
The retail formats ensure products of good
quality, offer customers the best advice and always the best
possible deal.
Beter Bed Holding is also active as a wholesaler of branded
products in the bedroom furnishing sector via its subsidiary DBC
International. The international brand M Line is sold in the
Netherlands, Germany, Belgium, Austria, Switzerland, Spain, France
and the United Kingdom.
The current total number of stores is 1,176. In
2015, the company achieved net revenue of € 385.4 million.
70.1% of this figure was realised outside the Netherlands.
Beter Bed Holding N.V. has been listed on the
Euronext Amsterdam since December 1996 and its shares (BBED
NL0000339703) have been included in the AScX Index.
For more
information:
Bart Koops |
Chief Financial Officer |
+31 (0)413 338819 |
+31 (0)6 46761405 |
bart.koops@beterbed.nl |
Link to Pdf
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Beter Bed Holding NV via Globenewswire
HUG#2028706
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