Beter Bed Holding shows strong 2021 results and resumes dividend payout
Today, Beter Bed Holding N.V. (BBH) – the Netherlands’ largest sleep specialist in retail, wholesale and B2B – publishes its results for the full year 2021.
Highlights
- Growth in revenue and EBITDA leading to a total net profit of € 13.9 million, up 75% compared to € 7.9 million in 2020.
- Continued strong performance with compound annual growth rate (CAGR) over FY 2019 to FY 2021 of 12.5% in both sales and order intake.
- Resilience and adaptability resulted in a solid 2.4% overall growth of order intake despite COVID-19 lockdown impact; leading to a record level order book of € 25.3 million (up 10.1% vs. 31 December 2020).
- Online sales growth of 55.9%; resulting in 23.4% online channel share.
- Strong performance DBC with year-on-year revenue growth of 54.0%.
- Successful divestment of Sängjätten for total proceeds of € 4.2 million.
- 2025 Strategy focused on core business in Benelux and DBC markets with several strategic initiatives launched.
- Set-up dedicated e-commerce organisation, LUNEXT, to develop all e-commerce propositions.
- Sustainability strategy based on pillars ‘promise, product, people’ now fully integrated in ‘Sleep better, live better' purpose.
- Significant improvement financial position as a result of operational performance, repayment perpetual loan positively offset by the issuance of 946,167 ordinary shares and new three year financing agreement.
- No Dutch COVID-19 governmental support measures used (NOW and TVL) and no deferred tax obligations per year-end.
- Strong cash position at year-end 2021 of € 38.0 million (€ 19.3 million at year-end 2020).
- Proposed cash dividend of € 0.15 per ordinary share for the financial year 2021 (pay-out ratio 32%), in line with revised dividend policy.
- Outlook 2022: based on a strong start of 2022, with order intake well above pre-COVID levels, BBH expects a further increase of revenues with a stable gross margin.
For the full version of the press release please click on the link below. Press photos can be downloaded here.
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