Beter Bed Holding N.V. — Earnings Release 2019

Aug 30, 2019

National Storage Mechanism | Additional information

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Highlights of first half year 2019

• Solid sales growth of the continued operations Benelux and New Business.
• The process leading to the exit of Matratzen Concord is on track expected to be completed by the end of 2019.
• An extraordinary shareholders' meeting (EGM) will be held in Q4 2019.
• On track with agreeing amended financing covenants for the remaining Group.

John Kruijssen, CEO of Beter Bed Holding N.V., comments:

"Since we announced our new strategy in October 2018, we have taken significant steps to improve our overall performance. However, as the recovery of Matratzen Concord was more time-consuming than earlier anticipated, with a significant financial impact, we decided to exit Matratzen Concord. This will allow us to focus on driving faster growth of our activities in the Benelux region and our New Business.****

We expect to complete the exit of Matratzen Concord by the end of 2019, and are currently in advanced stage of negotiations with a select number of seriously interested parties, which potentially presents a good fit to all stakeholders of Matratzen Concord. We will hold an EGM by the end of 2019. A secured short-term financial platform has been agreed with the banks and three major shareholders and we are now in the process to amend the financing covenants.****

At the same time, we continue to grow our Benelux operations and have seen sales growth of more than 6%. The New Business, consisting of the Swedish operation and DBC Wholesale, showed promising sales performance, albeit from a small basis. We are now focused on further acceleration and improving profit levels."**

Please click for the complete version of the press release on the link below. Press photos can be downloaded here.

Attachment

• Press release 30-08-2019