Another strong quarter for Beter Bed
(Thomson Reuters ONE) - * Fourth quarter 2009 revenue: EUR 101.9 million, an increase of 9%. * 2009 full-year revenue: EUR 361.5 million, an increase of nearly 1%. * Fourth quarter 2009 net profit: expected to be approximately 70% higher. * 2009 full-year profit: expected to be approximately 7% higher.Beter Bed Holding N.V. is announcing today the revenue and preliminary resultsfor the fourth quarter of 2009 and the full year 2009 respectively. Net revenuerose by 9% to EUR 101.8 million in the fourth quarter of 2009 in comparison to thefourth quarter of 2008 (EUR 93.4 million). Revenue of EUR 361.5 million was realisedfor the full year 2009, marking an increase of nearly 1% compared to 2008 (EUR358.6 million).The company forecasts net profit totalling EUR 23.5 million for the full year2009 (2008 EUR 22.1 million).Revenue per countryGrowth in revenue per country in the fourth quarter of 2009 and in the full year2009, in comparison to the same period of 2008, was as follows:Fourth quarter 2009 * The Netherlands +5% -7% * Germany +13% +6% * Austria +23% +22% * Switzerland +9% +13% * Spain -8% -10% * Belgium +27% +61% * Poland (first store opened in December 2008)Revenue at comparable storesRevenue at comparable stores within the Beter Bed Holding formulas increased by7.9% in the fourth quarter of 2009 in comparison to the fourth quarter of 2008.Growth in revenue at comparable stores took place primarily at the largestbusiness units Beter Bed and Matratzen Concord Germany. The increase at theseunits amounted to 15.5% and 7.9% respectively. The positive developments in thefourth quarter of 2009 have also benefited the order portfolio, which was muchhigher at year-end2009 than at year-end 2008.Revenue at comparable stores decreased by 3.1% for the full year 2009. Thedecrease was 3.9% at Beter Bed and 0.4% at Matratzen Concord Germany.New store openings and closures97 stores were opened and 69 stores were closed during the full year 2009. Thetotal number of stores consequently increased from 1,036 at year-end 2008 to1,064 at year-end 2009. Ten stores were opened on balance in the fourth quarterof 2009.Preliminary results for the fourth quarter of 2009 and the full year 2009Gross profit (as a percentage of net revenue) is forecast to rise to from 56.3%in the fourth quarter of 2008 to 56.7% in the fourth quarter of 2009. Withmarginally lower expenses, this is expected to result in operating profit (EBIT)in excess of EUR 15.5 million (fourth quarter 2008: EUR 9.6 million). Net profit isconsequently expected to amount to approximately EUR 11.5 million (fourth quarter2008: EUR 6.9 million).The company expects gross profit to improve to 54.7% for the full year 2009,compared to 54.5% in 2008. Total expenses are expected to have risen onlymarginally, despite the growth in the number of stores from 1,036 at year-end2008 to 1,064 at year-end 2009. Operating profit (EBIT) is therefore expected tototal EUR 32.5 million, compared to EUR 31.2 million in 2008. The net profit isexpected to total approximately EUR 23.5 million, compared to EUR 22.1 million forthe full year 2008.The results in this press release are unaudited. The definitive figures for2009 will be published on 12 March 2010.ProfileBeter Bed operates in the European bedroom furnishings market. Its activitiesinclude retail trade through a total of approximately 1,065 stores that operatevia the chains Beter Bed (active in the Netherlands), Matratzen Concord (activein Germany, the Netherlands, Austria, Switzerland, Belgium and Poland), ElGigante del Colch?active in Spain), BeddenReus, Dorma?and Slaapgenoten (allthree active in the Netherlands) and MAV (active in Germany). Beter Bed Holdingis also active in the field of developing and wholesaling branded products inthe bedroom furnishings sector in the Netherlands, Belgium, Germany and Spainvia its subsidiary DBC International. Beter Bed Holding achieved net revenue ofEUR 361.5 million in 2009. The company has been listed on Euronext Amsterdam sinceDecember 1996. The Beter Bed Holding share is included in the AmsterdamSmall Cap Index.--------------------------------------------------------------------------------A presentation for financial analysts will be organised today in order to alsointroduce Ton Anbeek, who will succeed Frans Geelen as CEO effective 1 March2010. This presentation is available on www.beterbedholding.com.For more information, please contact: Frans Geelen, Chief Executive OfficerTel. +31 (0)413 338819 / Fax +31 (0)413 338829 / Mob. +31 (0)6 29565517E-mail:frans.geelen(at)beterbed.nl
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