Trading update Q1 2015: Considerable growth in operating profit
13 Mai 2015 - 08:00AM
-
Net revenue increased by 10.2% to € 102.2
million (like-for-like: +10.3%).
-
Gross profit decreased by 0.4% to 56.5%.
-
EBIT rose by 45.7% to € 9.3 million.
-
Average number of stores decreased by
3.8%.
Beter Bed Holding has had a strong first quarter, with all
countries achieving higher revenue and profit.
Supported in part by promotions, revenue in
Germany increased by 11.1% in the first quarter. Revenue at
comparable stores rose by 10.9% in Germany.
Revenue in the Netherlands grew by 3.4% in the
first quarter due to factors including recovering demand as a
result of an increase in the number of houses sold and the relaunch
of Beter Bed. Revenue at comparable stores rose by 7.6%.
Austria, Switzerland, Spain and Belgium posted
growth in revenue in the first quarter. Like-for-like growth in the
first quarter amounted to 23.8%, 0.7%, 18.5% and 39.9%
respectively.
There were 19 store openings and 19 store closures
in the period January through March. The total number of stores at
the end of March consequently remained unchanged at 1,127. The
average number of stores was 3.8% lower than in the comparable
period of last year. This is primarily attributable to the
phasing-out of the formulas Slaapgenoten and Matrassen Concord in
the Netherlands and Belgium.
Gross
profit
Gross profit in the first quarter decreased slightly to 56.5% (Q1
2014: 56.9%) due to higher sales discounts and commercial
promotions (including free delivery).
Expenses
Operating expenses increased by 4.5% to € 48.5 million in the first
quarter, primarily due to higher staff costs, marketing spending
and depreciation costs.
Operating profit
(EBIT)
Mainly as a result of the rise in revenue, operating profit
increased by 45.7% from € 6.4 million to € 9.3 million in the first
quarter.
Developments
All formulas in all countries will be enhanced with respect to
promotions (advertising campaigns) and the positioning in the
coming period. The related focus will remain on increasing
like-for-like growth and, whenever possible, expansion. The company
expects a positive development for the second quarter of 2015.
Profile
Beter Bed Holding N.V. operates in the European bedroom furnishings
market. Its activities include retail trade through a total of
1,127 stores at the end of March 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 € 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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press release
13-5-2015.pdf
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information contained therein.
Source: Beter Bed Holding NV via Globenewswire
HUG#1921194
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