Beter Bed Holding records strong commercial and financial
performance with excellent cash generation in 2020
Uden, the Netherlands, 12 March 2021
Highlights
• New strategic route leads to growth significantly outpacing bedding market.
• Full-year EBITDA (including IFRS 16) grew by 57.5% to € 33.4 million in 2020 with net profit of € 7.9 million.
• Net cash generation amounted to € 19.8 million.
• 2020 sales amount to € 222.1 million representing a like-for-like uplift of 21.2% across all businesses.
• Order intake for the Group grew like-for-like by 24.8%, leading to record high order book of € 24.8 million on
31 December 2020 (up 19% vs. 31 December 2019).
• Strong omni-channel approach drives online sales up by 86.5% like-for-like, leading to a channel share of 14.8% for
the full year.
• Gross margin further increased to 54.9% across the Group.
The table below shows the key figures for the full-year 2020, which comprises Beter Bed in the Benelux, Beddenreus
in the Netherlands, Sängjätten in Sweden and our wholesale division DBC.
Key figures continuing operations 2020 / 2019
Revenue (in € million) 222.1 / 185.8
EBITDA including IFRS 16 (in € million) 33.4 / 21.2
EBITDA excluding IFRS 16 (in € million) 19.2 / 9.4
EBIT (in € million) 12.6 / (0.4)
Net profit/(loss) from continuing operations (in € million) 7.9 / (4.2)
Number of stores at year-end 151 / 161
Number of employees (FTE) at year-end 1,027 / 1,005
COVID-19 update
The current lockdown and the limited visibility on the duration thereof, combined with the more generic COVID-19
developments, affect all of us. It is difficult to predict how 2021 will unfold, although it is already clear that the first
quarter has been hugely impacted through the closure of our physical stores. The vaccines in the various countries
might bring some relief. Nevertheless, consumer confidence continues to be depressed and the economy volatile.
We continue our focus on cost control, disciplined capital spend and strict cash flow management, and at the same
time we further increase our investments in our online channel and further digitalisation. Active stock and supplier
management is in place in order to manage disturbances caused by the lockdown. Precautionary measures are taken
and constantly reviewed to ensure safe working and, when possible again, safe shopping conditions.