Beter Bed Holding announces Q3 2019 sales increase of 6.8% for the Continued Operations. Intended divestment of Matratzen Concord on track
Highlights:Q3 2019 sales increased by 6.8% to € 43.9 million, with like-for-like sales of 5.6%.Both Benelux and New Business contributed to the sales growth with strong commercial activation and several new innovations.On track with the transformation to a financially stable company with significant growth potential.Net debt and liquidity position will significantly improve as a result of the intended Matratzen Concord divestment, which is on track to be completed by the end of 2019, and the sale-and-leaseback transaction of the distribution center in Uden.
John Kruijssen, CEO of Beter Bed Holding, comments:
“In August 2018 we kicked off a strategic journey to recover profitable sales growth. We are very pleased with the sustained sales growth of our continued operations. The core operations in the Benelux are growing in both the Online and Offline channels, proving that our omni-channel strategy is successful. Our New Business also continues to grow, although from a smaller basis. Sales growth of the Wholesale channel is ahead of plan, with much more untapped potential to address. Sales growth in Sweden is solid and the action plans we implemented, with the aim to improve profitability, are in full swing. We continue to see the potential of the Matratzen Concord chain, and with the right focus and the much needed investments that are secured by the intended divestment, we believe all its stakeholders including its employees can enjoy a sustainable future. All in all, with this promising sales growth, I am confident that we are well positioned for a sustainable future.”