Beter Bed Holding NV Reports Earnings Results for the Fourth Quarter and Full Year 2014; Provides Operating Profit Guidance for the Year 2014
For the year, net revenue rose by 1.8% to EUR 363.9 million. Like-for-like revenue increased by 4.8%. EBIT increased by 87.6% to approximately EUR 23.0 million against EUR 12.3 million a year ago.
As a result of the increased revenue, operating profit rose from EUR 0.5 million to approximately EUR 10.5 million. Profit in the fourth quarter of 2013 did, however include non-recurring expenses of EUR 6.4 million connected with the closure of Slaapgenoten and Matrassen Concord in the Netherlands and Belgium. Operating profit is expected to amount to approximately EUR 23.0 million for the full year 2014. This represents an increase of EUR 10.7 million or 87.6% compared to 2013.