BETER BED : Trading statement fourth quarter 2011
01/20/2012| 02:19am US/Eastern
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Uden, The Netherlands, 20 January 2012
Beter Bed: record revenue and higher profit in 2011
Net revenue in 2011 grows by 6.0% to 397.0 million, with
growth in revenue in all countries except the
Netherlands.
Net profit in 2011 slightly exceeds the record year 2010 at
approximately 28.0 million
(2010: 27.9 million).
Net revenue grows by 5.2% to 108.0 million in fourth
quarter of 2011.
Growth in the number of stores in 2011: +70, of which +20
were opened in the fourth quarter.
Beter Bed Holding achieved 5.2% growth in revenue to 108.0
million in the fourth quarter of 2011 (fourth quarter 2010:
102.6 million), despite the continuing difficult conditions
in particularly the
Dutch market. This is primarily thanks to the strong revenue
performance in Germany. Net revenue for the full year 2011
totals 397.0 million. This represents a 6.0% increase in
revenue compared to the amount achieved in 2010 ( 374.7
million).
Revenue at comparable stores increased by 1.8% in the fourth
quarter of 2011 (increase full year
2011: 0.4%). The differences in the development of consumer
confidence in the group's two key markets, the Netherlands
and Germany, were also noticeable in the fourth quarter of
2011.
It was possible to achieve 16% growth in revenue in Germany
in the fourth quarter of 2011 through an increase in the
number of stores and strong anniversary promotions. The
fourth-quarter increase in revenue at comparable stores in
Germany is 12%. The stable development and relatively high
level of German consumer confidence, which is virtually
unaffected by the turmoil on financial markets in the fourth
quarter, plays a role in this.
As announced in conjunction with the presentation of the
third-quarter figures, the order portfolio in the
Netherlands at the end of the third quarter was down
significantly from one year ago. This is partially why
revenue fell by 12% in the fourth quarter. Revenue at
comparable stores fell by 10% in the fourth quarter. The
sharp drop in consumer confidence is largely to blame for
this.
The change in revenue per country for the full year 2011
compared to 2010 is as follows: Germany +10%
Netherlands -2%
Spain +13% Switzerland +21% Austria +18% Belgium +35% Poland
+24%
123 stores were opened and 53 stores were closed in 2011. The
number of stores consequently grew by 70 from 1,117 to 1,187.
A net total of 20 stores were added in the fourth quarter of
2011 (34 openings and 14 closures).
Net profit in the fourth quarter is expected to be
approximately 10.2 million (Q4 2010: 11.9 million),
meaning that net profit for the full year 2011 is expected to
total approximately 28.0 million. This represents a limited
increase compared to the record year 2010 ( 27.9
million).
The final figures for 2011 will be published on 2 March 2012.
The results stated in this press release have not been
audited.
Profile
Beter Bed operates in the European bedroom furnishings
market. Its activities include retail trade through a total
of 1,187 stores at the end of 2011 that operate via the
chains Beter Bed (active in the Netherlands and Belgium),
Matratzen Concord (active in Germany, Austria, Switzerland,
the Netherlands, Belgium and Poland), El Gigante del Colchσn
(active in Spain), BeddenREUS, Dormaλl 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, Germany, Belgium, Spain, Austria,
Switzerland and Turkey via its subsidiary DBC International.
Beter Bed Holding achieved net revenue of 397.0 million in
2011. The company has been listed on NYSE Euronext Amsterdam
since December 1996. The Beter Bed Holding share is included
in the Amsterdam Small Cap Index.
For more information, please contact: Ton Anbeek, Chief
Executive Officer
Tel. +31 (0)413 338819 / Fax +31 (0)413 338829 / Mob. +31
(0)6 53662838
E-mail: ton.anbeek@beterbed.nl
/ Website: www.beterbedholding.com
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