Beter Bed: signs of recovery in the Netherlands and Spain continue
18 Juillet 2014 - 8:00AM
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Revenue decreased by 6.8%
to € 76.0 million in the second quarter (like-for-like
-0.8%).
-
Revenue fell by 6.3% to €
168.7 million in the first half year of 2014 (like-for-like
-2.6%).
-
Order intake
(like-for-like) in the Netherlands rose by 3.5% in the second
quarter.
-
The order portfolio in the
Netherlands was up € 2.0 million at the end of the second
quarter.
-
Gross profit increased
with 1.3% to 57.7% amongst others causes by improved purchasing
conditions.
-
EBIT in the second quarter
of 2014 expected to be comparable to the second quarter of last
year.
Order intake in the Netherlands grew strongly in
the second quarter (like-for-like increase of 3.5%), causing the
order portfolio at the end of the second quarter to be
approximately € 2 million higher compared to the comparable period
of 2013. Both the rise in consumer confidence and the relaunch of
the Beter Bed formula that began late 2013 bore fruit. Total
revenue in the Netherlands dropped by 13.7% in the second quarter.
This was caused, on one hand, by a shift in the order intake from
the second quarter to the third quarter amounting to approximately
€ 1 million as a result of delivery problems at a supplier that was
affected by a natural disaster in May 2014. On the other hand the
decrease in revenue was for € 1.6 million caused by a decrease in
the number of stores following to the closure of the Slaapgenoten
and Matrassen Concord Benelux formulas.
Total revenue in Germany decreased by 1.7% in the
second quarter (like-for-like -2.5%). Revenues in Austria and
Switzerland were lower in comparison to the second quarter of 2013.
The stores in Spain showed a clear recovery in terms of revenue and
profits with like-for-like growth of 12.7%.
The company's total revenue in the first half of
2014 consequently amounts to € 168.7 million (-6.3% compared to 1H
2013). Total revenue at comparable stores fell by 2.6% in the first
half year of 2014.
A total of 28 stores were opened and 54 stores
were closed in the first half of 2014. The number of stores in the
Netherlands (-18) and Belgium (-4) has decreased due to the closure
of the Matrassen Concord and Slaapgenoten formulas in those
countries. The number of stores totalled 1,149 at the end of June
2014.
Revenue and net profit are generally at a low
level in the second quarter due to the seasonal pattern. Despite
the lower revenue, Beter Bed expects to realise the same operating
profit in comparison to the second quarter of last year.
Beter Bed Holding N.V. will publish its final
interim figures before the opening of the stock exchange on 22
August 2014.
Profile
Beter Bed Holding N.V. operates in the European bedroom furnishings
market. Its activities include retail trade through a total of
1,149 stores at the end of June 2014 that operate via the chains
Beter Bed (active in the Netherlands and Belgium), Matratzen
Concord (active in Germany, Switzerland, Austria and the
Netherlands), El Gigante del Colchón (active in Spain), and
BeddenREUS and Slaapgenoten (both 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, Switzerland and
the United Kingdom via its subsidiary DBC International. Beter Bed
Holding N.V. achieved net revenue of € 357.4 million in 2013. More
than 67% 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 more
information:
____________________________________________________________________________
Bart Koops |
Chief Financial Officer |
+31 (0)413 338819 |
+31 (0)6 46761405 |
bart.koops@beterbed.nl |
Please click on the link below for the PDF of the
press release.
press release 18-7-2014
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#1829630
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