Beter Bed: growth in revenue and EBITDA in second quarter

• Revenue rose by 7.0% to € 89.8 million (like-for-like growth: 2.5%).
  
• Average number of stores rose by 3.3%.
  
• Online revenue rose by 67.8% to € 2.5 million.
  
• EBITDA rose by 16.8% to € 4.3 million. 

Beter Bed Holding has had a positive second quarter.

Revenue in the Netherlands rose by 21.1% in the second quarter due in part to an upturn in demand, commercial promotions and a high order portfolio at the beginning of the quarter.

Revenue in Germany decreased by 2.2% in the second quarter due to a strong comparative basis (like-for-like Q2 2015: 9.4%) and disappointing market demand.

Austria, Spain and Belgium achieved increased revenue of 21.6%, 14.1% and 37.8% respectively in the second quarter. Revenue fell by 3.0% in Switzerland.

The company's total revenue amounted to € 196.6 million in the first six months of 2016.  This is an increase of 5.7% in comparison to the first six months of 2015. Total revenue at comparable stores rose by 3.5% in the first six months of 2016. Online revenue increased by 60.2% to € 5.4 million in the first six months of 2016.

Gross profit  
As a result of improved purchasing conditions and range improvements, gross profit rose to 57.4% in the second quarter of 2016 (Q2 2015: 56.7%).

Expenses
Operating expenses increased by 8.2% to € 50.1 million in the second quarter of 2016. In the first six months expenses rose by 6.0%. Expenses rose in part due to an increase in the average number of stores as a result of expansion and acquisitions. In addition, the non-recurring expenses, the largest proportion of which is connected with the strategy development, amounted to approximately € 1 million in the second quarter of 2016. Excluding these non-recurring expenses, the increase in expenses in the second quarter would have been 6.0%. 

EBITDA
Beter Bed Holding expects to achieve an EBITDA of € 4.3 million in the second quarter (Q2 2015: € 3.7 million). Revenue and net profit are generally at a lower level in the second quarter due to the seasonal pattern.

Beter Bed Holding N.V. will publish its final interim figures before the opening of the stock exchange on 30 August 2016. 

Profile
Beter Bed Holding is a European retail organisation that strives to offer its customers a comfortable and healthy night's rest every night at an affordable price. The company does this via stores and its own web shops through the formats: 

• Matratzen Concord, located in Germany, Switzerland and Austria.
• Beter Bed, located in the Netherlands and Belgium.
• Beddenreus, located in the Netherlands.
• El Gigante del Colchón, located in Spain.
• Literie Concorde, located in France.
• Sängjätten, located in Sweden.

The retail formats ensure products of good quality, offer customers the best advice and always the best possible deal. 
 
Beter Bed Holding is also active as a wholesaler of branded products in the bedroom furnishing sector via its subsidiary DBC International. The international brand M Line is sold in the Netherlands, Germany, Belgium, Austria, Switzerland, Spain, France and the United Kingdom.

The current total number of stores is 1,176. In 2015, the company achieved net revenue of  € 385.4 million. 70.1% of this figure was realised outside the Netherlands.

Beter Bed Holding N.V. has been listed on the Euronext Amsterdam since December 1996 and its shares (BBED NL0000339703) have been included in the AScX Index.

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