Beter Bed N : Half-year results 2021 (1.30Mb)

2021 H1 Results

21 July 2021

Agenda

2021	H1 business	John Kruijssen
2021	H1 financials	Gabrielle Reijnen
Q&A

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Robust H1 '21: Lockdown absorbed, ambitious strategy presented, new financing agreement, Sängjätten divested, perpetual re-paid…

Despite COVID-19 significant lockdowns H1 Group (cont) net profit was €4.1M (+43.6% vs '20), EBIT €3.7M (-23.2% vs '20) EBITDA €13.7M (-7.6% vs '20).

Group sales H1 grew 0.6% to €97.2M. Sales Benelux was €91.1M (-1% LFL) and New Business amounted to €6.1M (+40.8% LFL).

Order intake Benelux Q2 (+10.6% LFL) and New Business (+85.3% LFL) resulting in H1 increase of +0.2% LFL and an order book of €24.7M (11.3% LFL vs '20).

Group online sales grew 122.7%, with a channel share of 32.7% due to a continuing strong performance in Q2 of +40.4% in Benelux and +127.5% in New Business.

DBC grew strongly in existing channels nationally and internationally. Positioning in sports further strengthened through partnership with AFC AJAX.

Sängjätten showed an improved 1st half year performance and Sängjätten operations have been successfully transferred shortly after June month close.

BBH agreed new financing facilities with ABN AMRO for 3 years replacing the existing agreement. Perpetual loan is repaid per 20 July 2021.

Further improved financial position through improved solvency, healthy net-cash position, newly agreed but unused financing facilities, higher order book 30 June.

A new dividend policy will be developed in H2 '21 in order to get approved by shareholders in due course.

H1 performance proves resilience and underpins the strategic choices. Therefore we continue to be very confident with the '25 strategic goals and objectives.

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Implementation of new strategy and vision is underway…

We believe the better people sleep, the happier they are

the healthier they are and the more productive they are.

And we won't rest until everyone gets the high-quality sleep they deserve.

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Digital sales growth ahead of plan in HY1 2021…

Vigorous a/b testing as part of an experimentation culture.

Implemented profit-on-ad-spend project to drive next level of optimisation in online advertising effectiveness and improve margin.

Traffic Conversion AOV

+ + +

New on-sitesearch functionality and filter options to drive conversion rate
improvements and customer satisfaction.		Significant gain in online sales
			Nearly matched FY 2020 in H1 2021
%
SEO improvement plan in full effect to drive sustainable organic traffic growth.
Finalised 3rd Party Marketplaces growth strategy, to start in Q3 to continue to
build marketing presence and drive online growth on successful platforms.
Supply Chain & IT organisational changes have resulted in faster time to	2016	2017	2018	2019	2020	H1 2021
market on key online enablers.

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