Beter Bed Holding continues sales growth with +15.6% in first half year of 2022 and forms manufacturing joint venture in Poland
July 22 2022 - 1:00AM
Beter Bed Holding continues sales growth with +15.6% in first half
year of 2022 and forms manufacturing joint venture in Poland
Beter Bed Holding N.V. (BBH) – the Netherlands’ leading
sleep specialist in retail, wholesale and B2B – today announced its
results for the second quarter and first half year ended 30 June
2022.
Highlights first half 2022
- Sales growth of +15.6% to € 112.4
million (H1 2021: € 97.2 million) with gross profit increase of
+12.6% to € 61.2 million.
- Continued performance with Compound Annual Growth Rate over H1
2019 to H1 2022 (CAGR) of +9.5% in sales and +9.7% in order
intake.
- EBITDA and EBIT of respectively € 13.7 million and € 3.7
million, in line with same period last year.
- Online sales CAGR of +38.7% since 2019, leading to online
channel share of 19.7%.
- Strong performance of New Business with +13.5% sales growth
compared to H1 2021.
- Order book at € 19.4 million (-24.1% compared to 30 June
2021).
- DBC signs agreement with the French Adova Group to get the
exclusive right to sell the Simmons brand (Generation collection)
in the Netherlands and the Flemish part of Belgium.
- Binding memorandum of understanding signed with long-standing
suppliers to acquire 33.3% interest in Polish bedding and
mattresses factory.
- Newly developed supply chain network strategy to support the
2025 medium-term objectives.
John
Kruijssen, CEO
of BBH,
comments:“BBH again shows a half year of solid
growth. Although the second quarter has been somewhat softer,
mainly due to the strong comparison base, we have made good
progress during the period and further grown our gross profit. We
have proven that our proposition fits the needs of the customers
and people increasingly recognise the importance of sleep for their
health. With our strong execution capabilities, strong store
network and continuously growing online presence, we remain
confident that we can weather the current challenges driven by the
war in Ukraine, inflation, recession, rising commodity prices and
difficult labour market. We continue to adjust and strengthen our
proposition and are making strong strategic progress. To further
secure and streamline the supply of high-quality products for our
customers, we aim to vertically integrate our value chain and I am
happy to announce that we have signed a binding memorandum of
understanding to form a joint venture with a long-standing
strategic supplier. This partnership creates innovative power,
purchasing advantage of raw materials, and more influence on margin
among other things. DBC also made significant progress in the last
quarters with existing and new partnerships and continued to show
sales growth. We expect that the retail sector will be impacted by
the low consumer spending due to the uncertainties in the market,
however we are confident BBH is resilient in character and ideas
and is on track to realise the 2025 targets.”
For the complete version of the press release please click on
the link under attachment(s).
Press photos can be downloaded here.
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