Beter Bed: revenue increased by 8.6% in fourth quarter
20 Janvier 2017 - 8:00AM
Fourth quarter
2016
Fourth quarter
Total revenue increased by 8.6% to € 111.8 million in the fourth
quarter of 2016. This increase was amongst others achieved through
growth in the average number of stores, as a result of organic
growth and acquisitions. The like-for-like order intake increased
by 4.6%. Online revenue increased by 50.0%.
Revenue in Germany decreased by 2.9% (Q4 2015:
-1.6%). The decrease as a percentage in Q4 is less strong compared
to the decrease in the first three quarters. The order intake at
comparable stores fell by 4.5%, primarily as a result of lower
visitor numbers.
Revenue in the Netherlands rose by 25.8% due to
increasing demand and strong promotions. The order intake at
comparable stores increased by 21.5%.
Results 2016
Revenue of Beter Bed increased by 6.5% to € 410.5 million for the
full year 2016 (like-for-like order intake: + 2.8%). There was a
4.0% decrease in revenue in Germany which is in line with the
development of the German market in 2016. In the Netherlands there
was a 19.8% increase in revenue. Austria, Switzerland, Spain and
Belgium achieved growth in revenue of 14.8%, 3.3%, 22.0% and 30.9%
respectively. With the exception of Austria, the increase in these
countries was caused by a combination of expansion and
like-for-like growth of the order intake. Online revenue increased
by 48.2%.
The order portfolio for Beter Bed totalled € 27.5
million at year-end 2016, which is € 4.9 million higher compared to
year-end 2015.
The total number of stores at year-end 2016
totalled 1,206, a net increase of 47 stores (of which
16 were added as a result of the acquisition of Sängjätten). New
stores were opened primarily in Germany, Spain, Belgium and France.
Apart from the acquisition of Sängjätten in Sweden in June, the
increase in the number of stores was spread equally over the
year.
EBITDA
EBITDA decreased by 9.2% in the fourth quarter to € 14.1 million
and amounted to 12.6% of revenue. The decrease in EBITDA was caused
primarily by the lower revenue in Germany, higher expenses in the
Netherlands and the results of Sängjätten. EBITDA for the full year
2016 is expected to amount to approximately € 38.5 million (2015: €
41.1 million). Measures to improve profitability were taken in
various countries. These relate to investments in omnichannel to
increase revenue as well as measures to reduce costs, particularly
in logistics.
The final figures for 2016 will be published on 17 March 2017. The
results stated in this press release have not been audited.
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:
-
Matratzen Concord, located in Germany,
Switzerland and Austria.
-
Beter Bed, located in the Netherlands and
Belgium.
-
Beddenreus, located in the Netherlands.
-
El Gigante del Colchón, located in Spain.
-
Literie Concorde, located in France.
-
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, Sweden and the United Kingdom.
The current total number of stores is 1,206. In
2016, the company achieved net revenue of € 410.5 million. 66.4% 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:
Ton
Anbeek
Bart Koops
Chief Executive
Officer
Chief Financial Officer
+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.
press release 20-01-2017
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq 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
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