Beter Bed Holding records strong commercial and financial performance with excellent cash generation in 2020
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- New strategic route leads to growth significantly outpacing bedding market.
- Full-year EBITDA (including IFRS 16) grew by 57.5% to € 33.4 million in 2020 with net profit of € 7.9 million.
- Net cash generation amounted to € 19.8 million.
- 2020 sales amount to € 222.1 million representing a like-for-like uplift of 21.2% across all businesses.
- Order intake for the Group grew like-for-like by 24.8%, leading to record high order book of € 24.8 million on 31 December 2020 (up 19% vs. 31 December 2019).
- Strong omni-channel approach drives online sales up by 86.5% like-for-like, leading to a channel share of 14.8% for the full year.
- Gross margin further increased to 54.9% across the Group.
John Kruijssen, CEO of Beter Bed Holding N.V., comments:
"The COVID-19 outbreak significantly impacted society over 2020. Beter Bed Holding immediately adapted to this new reality, creating momentum to develop positively, commercially and financially. While our first priority remained with the health and safety or our employees and our customers throughout this unprecedented time, we geared the organisation to the new economic reality, further fine-tuned our strategic direction and significantly improved the level of digitalisation throughout the Group. The bedding market has been performing strong over 2020, with consumers spending more on their quality of sleep. In this growing market, we have further increased our market share and strengthened our position. We have shown almost 20% growth in revenue with costs tightly under control, further improving our margins and returning back to net profit. At the same time, we have launched several initiatives to further increase our sustainability, and we will publish a revitalised CSR strategy mid-year, with new stretching targets to strive for. I am very proud of my Beter Bed Holding colleagues showing responsibility and decisiveness so that our operations continued to be safe and developed even further, which gives us, despite the current lockdowns, confidence for the future.”
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