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Beter Bed Holding N.V. — Earnings Release 2009
Oct 7, 2009
3820_iss_2009-10-07_16f47fa1-b5f3-4e33-b4de-1dc591ea741e.pdf
Earnings Release
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PRESS RELEASE
Uden, the Netherlands, 7 October 2009
Beter Bed raises profit forecast for third quarter of 2009
Despite continuing reluctance on the part of consumers to spend, Beter Bed Holding N.V. has realised an increase of more than 2% in revenue in the third quarter of 2009 (€ 92 million in comparison to € 89 million in the third quarter of 2008). The company furthermore expects to have been able to improve its gross profit and reduce the average expenses per store. As a result net profit in the third quarter of 2009 is now forecast to more than € 5 million. This is higher than the amount last year when net profit in the third quarter totalled € 4.3 million.
In the comparable stores of the Beter Bed Holding formulas sales decreased by approximately 3% in the third quarter of 2009 compared to the same period in 2008.
In August of this year the company projected that it would realise net profit of approximately € 3.5 million in the third quarter. Market conditions were less negative in the second quarter and this situation continued in the third quarter. It is, nonetheless, still too early to speak of a recovery in the market for bedroom furnishings. The company's profit depends for an extremely large part on the revenue performance, which remains subject to poor visibility. The company will continue to focus unabated on its promotional activities, whilst at the same time maintaining or improving the gross profit and reducing the average expenses per store.
The definitive quarterly results will be published before the opening of the Amsterdam stock exchange on 30 October 2009.
Profile
Beter Bed operates in the European bedroom furnishings market. Its activities include retail trade through a total of approximately 1,050 stores that operate via the chains Beter Bed (active in the Netherlands), Matratzen Concord (active in Germany, the Netherlands, Austria, Switzerland, Belgium and Poland), 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 Spain via its subsidiary DBC International. Beter Bed Holding achieved net revenue of € 358.6 million in 2008. 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