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Beter Bed Holding N.V. — Earnings Release 2007
Jan 18, 2008
3820_iss_2008-01-18_18e150f4-0206-4ec0-837b-7d3b404d7af6.pdf
Earnings Release
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PRESS RELEASE
Uden, The Netherlands, 18 January 2008
BETER BED ACHIEVES 10% GROWTH IN REVENUE IN 2007
Beter Bed Holding N.V. achieved net revenue of € 351 million for the full year 2007. This represents a 10% increase in comparison to the revenue realised in 2006 (€ 320 million). The company earned revenue of € 94 million in the fourth quarter of 2007, which constitutes a 4% increase compared to the revenue realised in the fourth quarter of 2006 (€ 90 million).
On a per country basis, growth in revenue for the full year 2007 compared to 2006 was as follows:
- Netherlands 9%
- Germany 10%
- Austria 19%
- Switzerland 26%
- Spain 7%
Following 12% growth in revenue during the first three quarters of 2007, the increase in revenue amounted to 4% in the fourth quarter. This lower growth rate in the fourth quarter is attributable to Germany where the company was able to benefit in late 2006 from the impending VAT increase that went into effect on 1 January 2007.
Revenue at comparable stores rose by 1% for the entire year 2007. A total of 165 stores were opened and 44 stores were closed. This brought the total number of stores at year-end 2007 to 960 (year-end 2006: 839).
With an EBIT margin of approximately 13.5% for the fourth quarter and of approximately 10.5% for the entire year 2007, net profit for the entire year 2007 is expected to total more than € 27 million (2006: € 23.8 million). The company adjusted its profit forecast upward to at least € 29 million in late October 2007.
Profile
Beter Bed operates in the European bedroom furnishings market. Its activities include retail trade through a total of approximately 960 stores that operate via the chains Beter Bed (active in the Netherlands), Matratzen Concord (active in the Netherlands, Belgium, Germany, Austria and Switzerland), El Gigante del Colchón (active in Spain), BeddenReus, Dormaël and Slaapgenoten (all three active in the Netherlands) and MAV (active in Germany). Beter Bed Holding is also active in the field of developing and wholesaling branded products in the bedroom furnishings sector in the Netherlands, Belgium, Germany and in Spain via its subsidiary DBC International. Beter Bed Holding achieved net revenue of € 351 million in 2007. The company has been listed on Euronext Amsterdam since December 1996. The Beter Bed Holding share is included in the Amsterdam Small-cap Index.
For more information, please contact: Frans Geelen, Chief Executive Officer Tel. +31 (0)413 338819 / Fax +31 (0)413 338829 / Mob. +31 (0)6 29565517 E-mail: [email protected] / Website: www.beterbedholding.com