Beter Bed Holding‘s first quarter turnover grew more than 4 %, with growth in every market aside from Germany and Switzerland. However, German like-for-like turnover did grow.
Largest growth in Belgium
Beter Bed’s first quarter net turnover reached 106.9 million euro, up 4.6 % compared to the year before also a 4.4 % like-for-like growth compared to the previous year. Belgium managed the largest growth, up an astonishing 23.1 %, while its home territory, The Netherlands, managed a 17.1 % growth. Its new strategy, focusing on innovation, omnichannel and a fast yet flexible logistics system, paid off as its Dutch market share also increased.
Spanish and Austrian turnover also grew, respectively 12 and 19.8 %, but German (- 3.4 %) and Swiss (- 5 %) turnover dropped. However, German like-for-like turnover did grow a lot, up 10.9 %, but the company’s total turnover did drop because of a shift in German shopping days.
Its first quarter EBITDA grew 9.2 % to 12.7 million euro, while its operating income grew 9.3 % to 10.1 million euro. At the end of its first quarter, Beter Bed Holding owned 1,151 stores, down 10 compared to the previous quarter, but up 2.6 % compared to the year before.
