Beter Bed expects a slight increase in profit on ordinary activities with lower revenue in the second quarter of 2013
(Thomson Reuters ONE) -
* Revenue decreases in the second quarter of 2013 by 7% to ? 82 million (Q2
2012: ? 88 million); revenue in the first six months of 2013 will
consequently total ? 180 million (H1 2012: ? 196 million).
* Gross profit increases due to factors including improved purchasing
conditions.
* Cost-savings programme contributes to structurally lower expenses.
* Net profit in second quarter of 2013 (excluding ? 1 million in
reorganisation expenses for Spain) totals ? 0.8 million (Q2 2012: ? 0.2
million); net profit (excluding non-recurring expenses) for the first six
months of 2013 is consequently expected to amount to approximately ? 6.4
million (H1 2012: ? 9.1 million). Including non-recurring expenses net
profit amounts to ? 5.4 million.
The poor economic climate once again had a negative effect on the revenue trend
in the Netherlands and Spain in the second quarter of 2013. Following a
difficult start in the first quarter, revenue in Germany developed slightly
better in the second quarter despite negative weather influences. Revenue
performance in Austria and Switzerland has remained positive. Total group
revenue decreased by 7% from ? 81.5 million in the second quarter (Q2 2012: ?
87.8 million).
This brings the total revenue in the first six months of 2013 to ? 180 million,
which represents a decrease of 8% compared to the same period of last year.
Revenue at comparable stores fell by 10% in the first six months of 2013.
Revenue performance per country in the first six months of 2013 was as follows:
Netherlands -15%
Germany -3%
Austria +8%
Switzerland +3%
Spain -47%
Belgium -27%
Total -8%
32 stores were opened and 51 were closed in the first six months of 2013. Five
store closures are the result of location improvements. A net total of 19 stores
were closed. The number of stores has decreased in the Netherlands (-6), Austria
(-5) and Spain (-18). The number of stores has increased in the other countries.
The number of stores amounted to 1,200 at the end of June 2013.
Revenue and net profit are generally lower in the second quarter due to the
seasonal pattern. The lower margin (in cash) in the second quarter caused by the
lower revenue will be completely compensated by the positive development of the
gross profit (in percentages) and the continuing cost control. The trend from
the first quarter will consequently be continued.
Due to the expected expenses (amounting to ? 1.0 million) relating to the store
closures in Spain, as announced at the time of the publication of the first
quarter figures, this is expected to result in a net loss of approximately ?
0.2 million in the second quarter (net profit second quarter 2012: ? 0.2
million). Excluding these (non-recurring) expenses, net profit in the second
quarter amounts to ? 0.8 million.
Net profit in the first six months of 2013 is consequently expected to amount to
approximately ? 5.4 million, which therefore represents a decrease of 41% (net
profit first six months 2012: ? 9.1 million). Excluding the additional expenses
for Spain, net profit for the first six months of 2013 total ? 6.4 million (a
decrease of 30%).
Beter Bed will publish its definitive interim figures before the opening of the
Amsterdam stock exchange on 30 August 2013.
Profile
Beter Bed Holding N.V. operates in the European bedroom furnishings market. Its
activities include retail trade through a total of 1,200 stores at the end of
June 2013 that operate via the chains Beter Bed (active in the Netherlands and
Belgium), Matratzen Concord (active in Germany, Switzerland, Austria, the
Netherlands and Belgium), El Gigante del Colchón (active in Spain), BeddenREUS
and Slaapgenoten (both active in the Netherlands) and Schlafberater.com (active
in Germany). Beter Bed Holding is also active in the field of developing and
wholesaling branded products in the bedroom furnishing sector in the
Netherlands, Germany, Belgium, Spain, Austria, Switzerland, Turkey and the
United Kingdom via its subsidiary DBC International. Beter Bed Holding N.V.
achieved net revenue of ? 397.3 million in 2012. More than 65% of the group's
net revenue is realised outside the Netherlands. The company has been listed on
the NYSE Euronext Amsterdam since 1996 and 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 19-7-2013:
http://hugin.info/132850/R/1717417/571073.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#1717417]
Unternehmensinformation / Kurzprofil:
Datum: 19.07.2013 - 08:00 Uhr
Sprache: Deutsch
News-ID 279996
Anzahl Zeichen: 5988
contact information:
Town:
Uden
Kategorie:
Business News
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