Beter Bed Holding completed its restructuring and started the transformation to fully focus on driving profitable growth
1 March 2019
Highlights 2018:
- Development of the new strategy, fully embracing today’s market and consumer dynamics.
- Sales decreased by 3.0% to € 396.3 million in 2018, with sales momentum regained in Q4.
- Good overall performance in the Benelux.
- Reorganization of Matratzen Concord successfully delivered, leadership teams strengthened.
- 2018 EBITDA excluding one-off costs of the restructuring at € 0.6 million.
- Financial stability. Good cash performance. Performance within amended bank agreements.
John Kruijssen, CEO of Beter Bed Holding, comments: ‘In 2018 Beter Bed Holding went through an important and necessary restructuring. We had to take difficult measures to be able to create a solid basis for future growth. We introduced a new mid-term strategy with the overarching customer promise to offer the best quality rest @ affordable prices. We are currently fully focusing on the next phase, being the return to profitable sales growth as a value for money omni-channel retailer. The year 2018 had two faces for us; the negative Q1-Q3 trends caused the disappointing sales and profit performance, while we perceived the Q4 restructuring to address this as successful. We are also pleased that the cash flow has stabilized and the performance was within the amended bank agreements. With the first short-term restructuring successfully delivered I am proud to say that we are on track with the strategic progress as presented at the Capital Markets Day in October last year.’
Download the full press release:
20190301 Full-year results 2018 (0.69Mb)