Beter Bed Holding successfully executed transformation in 2019


Highlights 2019

  • Full-year sales increased by 7.5% to € 185.8 million (continuing business) with like-for-like sales growth of 4.7%; order intake increased by 3.3% on like-for-like basis.
  • Positive EBITDA and cash flow generation, while performance is still impacted by one-off costs and investments to support further growth.
  • Net loss of € 4.2 million; including discontinued operations, related impairments and one-off costs € 52.6 million loss.
  • Important milestones achieved to restore financial position:
    • Successful divestment of Matratzen Concord securing new future for the operations; purchase price mechanism resulted in improved purchase price from € 5.0 million to € 7.9 million.
    • Sale and leaseback of distribution centers for total cash consideration of € 19.1 million.
    • Issued € 5.0 million in ordinary shares and secured € 7.0 million incremental shareholder loan, of which 50% converted to perpetual loan.
    • Bank debt significantly reduced; new bank covenants successfully tested per 31 December 2019.
  • The 2019 transformation resulted in a better balance sheet and cash position.
  • In the first 2.5 months of 2020 sales and order intake developed very positively compared to last year. Given recent developments related to COVID-19, we strengthened our precautionary measures. Our primary concern is to safeguard the health of our customers and employees. Customers can shop online and remain welcome in our stores and our employees are extra alert to personal hygiene and potential disease symptoms, taking all health authorities’ guidance into account.

John Kruijssen, CEO of Beter Bed Holding N.V., comments:

"Now that we have transformed the business to focus on our Benelux and New Business, we are off to a good start of the year. Both divisions have shown positive sales growth since the start of 2020. In 2019 tough decisions were taken to realise a turnaround of the Company. We divested Matratzen Concord and went through a significant financial restructuring. We could never have accomplished this transformation without the passionate and committed contribution of all our employees, who continue to work hard to further grow our company. The support received from our shareholders and banks are proof of the resilience of our continuing business.

In Magical Honour Limited, a company backed by Healthcare Co. Ltd. (a Chinese public company), we found the best owner for all employees and all other stakeholders of Matratzen Concord Germany, Austria and Switzerland, who we also welcome as strategic investor into our group. Our continuing business now delivers solid sales growth. We are aware though that consumers might become less confident due to the current macroeconomic and political volatility, especially now the impact of the COVID-19 virus on the global economy provides increased uncertainty. Beter Bed Holding currently has an improved financial position and started the year very well, however we are focused on managing the impact of Covid-19 and are taking all the measures possible to keep our customers and employees safe.”

 Please click for the complete version of the press release on the link below. Press photos can be downloaded here.


About GlobeNewswire

One Liberty Plaza - 165 Broadway
NY 10006 New York

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire

Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire

Nokia announces generational step in data center networking; new OS and tools give cloud builders unprecedented ability to adapt, automate and scale9.7.2020 18:00:00 CESTPress release

Press Release Nokia announces generational step in data center networking; new OS and tools give cloud builders unprecedented ability to adapt, automate and scale Nokia improves data center networking for all cloud builders – webscale companies, service providers and enterprises – empowering them to rapidly design, deploy, adapt and automate data center network fabrics at massive scale to keep up with increasing business demand from 5G and Industry 4.0 Apple is an early adopter of the innovative technology, deploying the solution within its cloud operations in its data centers Nokia redefines openness, application development flexibility, robustness and operational tools for rapidly building and confidently operating data center networks at scale 9 July 2020 Espoo, Finland – Nokia has redefined data center fabrics with the launch of a new and modern Network Operating System (NOS) and a declarative, intent-based automation and operations toolkit. This will allow cloud and data center bu

NEOCOM MULTIMEDIA : Résultats 2019 – Dividende et PerspectivesEuronext Paris FR0004157543 MLNEO Communiqué du 9 juillet 2020 Résultats 2019 – Dividende et Perspectives9.7.2020 15:29:42 CESTPress release

La société NEOCOM MULTIMEDIA (FR0004157543 MLNEO) a mis en paiement il y a quelques jours son dividende de 0.32 euros par action relatif à l’exercice 2019, décidé lors de l’assemblée générale du 25 juin dernier qui s’est tenue à huis clos. L’opérateur télécom a enregistré au cours de l’exercice 2019 un chiffre d’affaires proche de 22 M euros contre 26.4 M euros pour l’exercice précédent, soit une baisse de 17 %. Celle-ci est liée principalement à l’activité commerciale (baisse et arrêt de certains clients) qui n’impacte que dans une moindre mesure la marge brute, comparée aux activités éditoriales plus rentables qui se sont maintenues. Au niveau opérationnel, l’exercice enregistre une légère hausse avec un résultat d’exploitation à 1 273 K euros contre 1 192 K euros pour 2018, du fait également d’un allégement de la masse salariale. Compte tenu des autres résultats financier et exceptionnel peu significatifs, et après prise en compte d’une charge d’impôt de 383 K euros pour 2019 contre

STMicroelectronics and Fingerprint Cards Cooperate to Develop and Launch an Advanced Biometric Payment Card Solution9.7.2020 15:00:00 CESTPress release

Co-development of Biometric System-on-Card (BSoC) platform to offer an efficient and competitive solution to card manufacturers for the banking market Advanced features to enhance consumer convenience and securityCombines latest generation of STPay secure-payment technology with Fingerprints’ biometric solution expertise Göteborg, Sweden and Geneva, Switzerland - World-leading biometric company Fingerprint Cards AB (Fingerprints) has teamed with STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, to develop an advanced Biometric System-on-Card (BSoC) solution based on fingerprint-recognition technology, addressing the market demand to enhance contactless payment-card security and convenience. The BSoC integration combines ST’s latest-generation secure-payment technology based on the ST31/STPay chipset and STM32 general-purpose microcontrollers with Fingerprints’ next-generation T-Shape sensor module to provide

Update: USD TENDER OPERATION ANNOUNCEMENT9.7.2020 13:30:00 CESTPress release

USD TENDER OPERATION ANNOUNCEMENT JUL 09, 2020 Transaction type: Reverse TransactionOperation type:Liquidity providingTender date:JUL-09-2020Time for submission of bids14.00-14.30 (CEST)Start date:JUL-13-2020Maturity date:OKT-05-2020Duration:84 daysOffered volume:10.0 bln Min bid amount: 100 mlnMaximum bid amount: 4.0 blnMax number of bids:10Lowest interest supplement:0.25 percentage pointsMin bid rate:0.32 %Allocation time:15.00 (CEST) on Tender date Approved counterparties are invited to submit bids to the Riksbank, tel +46 8 6966970 by 14.30 (CEST) pm on Jul 9, 2020. Confirmation of bids to e-mail:

Mandalay Resources Corporation Announces Production and Sales Results for the Second Quarter of 20209.7.2020 13:00:10 CESTPress release

TORONTO, July 09, 2020 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND, OTCQB: MNDJF) announced today its production and sales results for the second quarter of 2020. In the second quarter of 2020, Mandalay produced a consolidated 24,752 saleable ounces of gold equivalent and sold 24,916 ounces of gold equivalent. Dominic Duffy, President and Chief Executive Officer of Mandalay, commented, “Both operations continued their strong start to the year with a quarter-over-quarter improvement in total ounces of gold equivalent sold. The second quarter production results were the Company’s best quarterly consolidated gold production since the fourth quarter of 2017.” Mr. Duffy continued, “At Costerfield, the excellent results continued from the Youle vein, with the site producing 13,502 gold equivalent ounces. Antimony provided another solid quarter with 933 tonnes sold, the Company’s highest tonnes sold since the second quarter of 2016. The plant pro