Beter Bed Holding: solid results in H1 2023
21 July 2023 - 3:00PM
Beter Bed Holding: solid results in H1 2023
Beter Bed Holding N.V. (BBH) – the Netherlands’ leading sleep
specialist – today announced its results for the second quarter and
first half year ended 30 June 2023.
Highlights first half 2023
- Sales growth of +5.4% to € 118.4 million (H1 2022: € 112.4
million) with gross profit increase of +7.0% to € 65.5 million (H1
2022: € 61.2 million).
- All subsidiaries contributed positively to the growth, with
online sales now at 17.6% channel share.
- Underlying EBITDA and underlying EBIT of € 18.2 million (H1
2022: € 14.5 million) and € 8.1 million (H1 2022: € 4.4 million)
respectively, showing a +25.8% and +82.5% increase.
- Order book at € 16.6 million (compared with € 19.4 million at
30 June 2022).
- Obtained 50% stake in Bovelli's production and real estate
entities, allowing further vertical integration in supply
chain.
- On 10 July, agreement was reached with Torqx on all-cash public
offer for all issued and outstanding BBH shares at € 6.10 per
share, a 107% premium to closing price on 7 July 2023, valuing 100%
of the shares of the Company at € 168 million.
John Kruijssen, CEO of BBH,
comments: “Since the launch of our strategic agenda, we
successfully transitioned to a sleep specialist with accelerated
online sales, expanding our wholesale presence and achieving high
customer satisfaction. The first half year of 2023 marked another
solid performance across the Group. Positive performance in our
sales channels, a gross profit increase, combined with tight cost
management, resulted in EBITDA growth. The proposed transaction
with Torqx Capital Partners will allow us to further accelerate our
growth strategy and we look forward to the next phase of the
development of our company.”
For the complete version of the press release, please click on
the link under attachment.
Press photos can be downloaded here.
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