AI assistant
Beter Bed Holding N.V. — Earnings Release 2009
Jul 17, 2009
3820_iss_2009-07-17_96b1745d-6aa4-4c21-b6a0-272487ff3c05.pdf
Earnings Release
Open in viewerOpens in your device viewer
PRESS RELEASE
Uden, the Netherlands, 17 July 2009
BETER BED INCREASES PROFIT FORECAST FOR FIRST HALF-YEAR
- Beter Bed Holding N.V. realised revenue of € 76 million in the second quarter of 2009, which is 4.5% lower than in the corresponding period of 2008.
- Revenue in the first six months of 2009 totalled € 168 million, which is 4.5% lower than in the first six months of 2008.
Revenue performance per country in the first six months of 2009 was as follows:
| Netherlands | -14% |
|---|---|
| Germany | 3% |
| Austria | 20% |
| Switzerland | 16% |
| Spain | -9% |
| Belgium | 81% (from 3 to 5 stores) |
| Poland | unavailable/first store opened in December 2008. |
A total of 56 stores were opened and 40 stores were closed in the first six months of 2009. The number of stores therefore increased by a net total of 16. There were a total of 1,052 stores at the end of June 2009. Revenue at comparable stores within the Beter Bed Holding formulas decreased by 9% in the first six months of 2009. The decrease totalled 12.6% in the first quarter of the year. Despite the difficult market conditions, the company succeeded in realising an improvement later in the second quarter and as a result the decrease at comparable stores amounted to 5% in the second quarter of 2009.
Due to the seasonal revenue pattern, net profit usually is lower in the second and third quarter than in the first and fourth quarter.
In contrast to the net loss of approximately € 1 million originally projected in April 2009, net profit in the second quarter of 2009 is now forecast to reach more than € 0.5 million (net profit second quarter of 2008: € 2.9 million). Net profit for the first six months of 2009 is consequently expected to amount to approximately € 6 million. It was previously forecast to total € 4.4 million (net profit first six months of 2008: € 10.9 million).
Beter Bed will release its interim figures before the opening of the Amsterdam stock exchange on 28 August 2009.
Profile
Beter Bed operates in the European bedroom furnishings market. Its activities include retail trade totalling approximately 1,050 stores that operate via the chains Beter Bed (active in the Netherlands), Matratzen Concord (active in the Netherlands, Belgium, Germany, Austria, Switzerland 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 in 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