Beter Bed: record revenue and higher profit in 2011
(Thomson Reuters ONE) -
* 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 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, 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(at)beterbed.nl / Website: www.beterbedholding.com
Please click on the link below for the Pdf version of the press release.
press release 20-1-2012:
http://hugin.info/132850/R/1578856/492522.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Beter Bed Holding NV via Thomson Reuters ONE
[HUG#1578856]
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Datum: 20.01.2012 - 08:00 Uhr
Sprache: Deutsch
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