Beter Bed Holding announces AGM and provides update on current developments – good start to the year 2022
Today, Beter Bed Holding N.V. (BBH) – the Netherlands’ largest sleep specialist in retail, wholesale and B2B – has published the notice and agenda for its Annual General Meeting (AGM) to be held on Wednesday, 11 May 2022. Further information on the AGM is available on the company’s website www.beterbedholding.com.
During the AGM, BBH will look back on the results achieved over 2021, and update the shareholders on the current developments. 2021 began and concluded with temporary store closures, however the impact has been managed in the remainder of the year and BBH has been able to show growth in sales, EBITDA, EBIT and net profit for the 2021 financial year. This put the Company in a strong starting position for 2022.
John Kruijssen, CEO, comments:
“I am proud of how our organisation performed in 2021. Through the pandemic, we were always open for business – even with our stores closed – successfully connecting with people in new ways, and serving our growing customer base with our innovative range of sleep solutions.
The strategic developments in 2021 contributed to our strong financial results, reflecting the underlying strength of our strategic transformation and putting us in a good starting position for 2022. Our company is in good commercial and financial shape. As a result of our solid financial position and strong results, we will propose a dividend payout of € 0.15 per ordinary share at the AGM, a strong signal of confidence in our future.
We are set to ramp up investments in accordance with our 2025 Strategy and continue to build on our ‘Sleep better, live better’ purpose, with the aim to attain our ambitious growth targets.”
Update first quarter 2022
Despite the mandatory store closures for the first two weeks of 2022 in the Netherlands, which has already started in the second half of December 2021, BBH started the year strongly. Year to date we show a solid performance. Currently, all stores are open without COVID-19 restrictions and order intake is well above pre-COVID level.
Although measures have eased, COVID-19 is still present: it limits availability of staff, commodity prices are high and supply chain issues persist. We are closely monitoring recent developments in Europe, which could have an impact on the global economy. Our thoughts go out to the people in Ukraine. At present, we see limited impact in our supply chain, but we continue to be in close contact with our partners, have re-addressed certain commodity sources, and deliberately maintain safety stock levels to minimise potential impact on deliveries to our customers. We anticipate that the current disruptions will take some time to normalise and we continue to retain focus on cost control, disciplined capital spend and strict cash flow management.
Despite this turbulent environment, the implementation of our 2025 Strategy is in full swing and the Company is in a good shape. We will further increase our CAPEX in 2022 to attain our ambitious growth targets towards 2025.
Further update
BBH will publish its Q1 trading update on 22 April 2022.
About Beter Bed Holding
Beter Bed Holding (BBH) is the Netherlands’ leading sleep specialist in retail, wholesale and B2B.
Our mission is simple. We believe that the better we sleep, the happier, healthier and more productive we are. And we won’t rest until everyone gets the high-quality sleep they deserve.
Listed on Euronext Amsterdam, BBH operates the successful retail brands Beter Bed, Beddenreus, the new subscription brand Leazzzy and the digital organisation LUNEXT. In addition, through its subsidiary DBC International, BBH has a wholesale business in branded products in the bedroom furnishings sector, which includes the well-known international brand M line.
With 4 distribution centres, a fleet of 80 vehicles, 134 stores, a fast-growing online presence, and a wholesale company our team of over 1,000 dedicated employees generated € 214.2 million revenue in 2021.
Providing expert sleep advice is at the very heart of our strategy, and thanks to our revolutionary ‘Beter Slapen ID’ tool, our sleep consultants help customers to get the perfect night’s sleep. BBH is proud that M line is the official sleep supplier of AFC Ajax, TeamNL, Jumbo-Visma, NOC*NSF and the KNVB.
For more information
Press enquiries: Uneke Dekkers / CFF Communications
T +31 (0)20 575 4010 or M +31 (0)6 50261626
E uneke.dekkers@cffcommunications.nl
For the Pdf version of the press release please click on the link below. Press photos can be downloaded here.
Attachment
