For the entire year 2007, Beter Bed Holding N.V. increased its revenue by 9.7% to
€ 351.2 million, thereby raising its net profit to € 27.6 million (compared to € 23.8 million in 2006). Estimates in January had indicated a net profit for 2007 of more than
€ 27 million.
€ 27 million.
Revenue in the fourth quarter grew by 4.2% to € 93.7 million, compared to € 89.9 million in the fourth quarter of 2006. The fourth-quarter growth in 2007 lags behind the growth in the first three quarters (11.9%) as a result of the additional revenue the company generated in the fourth quarter of 2006 due to the German VAT increase in early 2007. The company consequently reports a net profit of € 9.0 million for the fourth quarter of 2007, compared to € 10.4 million for that same quarter in 2006.
Frans Geelen, Chief Executive Officer: 'In 2007, we invested in 165 new stores and updated several dozens of others. Despite these substantial investments we were able to return 100% of the profit to our shareholders in the form of dividend and share buy backs. Beter Bed ended the year with a strong balance sheet, and the dedication and professionalism of our employees once again ensured record revenue and profit for the company this past year'.
Profile
Beter Bed operates in the European bedroom furnishings market. Its activities include retail trade through a total of 960 stores at the end of 2007 that operate via the chains Beter Bed (active in the Netherlands), Matratzen Concord (active in the Netherlands, Belgium, Germany, Austria and Switzerland), El Gigante del Colchón (active in Spain), BeddenReus, Dormaël and Slaapgenoten (all three active in the Netherlands) and MAV (active in Germany). Beter Bed Holding is also active in the field of developing and wholesaling branded products in the bedroom furnishings sector in the Netherlands, Belgium, Germany and in Spain via its subsidiary DBC International. Beter Bed Holding achieved net revenue of € 351.2 million in 2007. The company has been listed on Euronext Amsterdam since December 1996. The Beter Bed Holding share is included in the Amsterdam Small cap Index.
For more information, please contact: Frans Geelen, Chief Executive Officer
Tel. +31 (0)413 338819 / Fax +31 (0)413 338829 / Mob. +31 (0)6 29565517
E-mail: frans.geelen@beterbed.nl / Website: www.beterbedholding.com
Tel. +31 (0)413 338819 / Fax +31 (0)413 338829 / Mob. +31 (0)6 29565517
E-mail: frans.geelen@beterbed.nl / Website: www.beterbedholding.com
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