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.
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