Beter Bed: decrease in revenue and simplification of formula portfolio in the Benelux places extra pressure on net profit
Uden, The Netherlands, 22 January 2014
- Net revenue totalled € 357.4 million in 2013, 10.0% lower than in 2012 (€ 397.3 million).
- Simplification of formula portfolio through the closure of Matrassen Concord Benelux and Slaapgenoten stores; related non-recurring expenses amounted to € 6.5 million (total non-recurring expenses 2013: € 7.5 million).
- Further focus enables Beter Bed to expand the market position of the Beter Bed and BeddenREUS formulas.
- Operating profit (excluding the non-recurring expenses) decreased to approximately € 19.6 million (5.5% of revenue) in 2013 (2012: € 31.2 million; 7.9% of revenue).
- Net profit excluding non-recurring expenses amounted to approximately € 14.2 million in 2013 (2012 excluding non-recurring expenses: € 22.2 million).
Revenue decreased by 10.0% in the fourth quarter of 2013 to € 90.8 million (fourth quarter 2012: -6.6%). Revenue at comparable stores fell by 9.2% in the fourth quarter of 2013 (decrease for the full year 2013: 11.2%).
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20140122 Trading statement Q4 2013 (0.66Mb)