Brief: Beter Bed Holding H1 Net Profit Up At EUR 4.1 Mln

Beter Bed Holding NV

21/07/2021 06:15

July 21 (Reuters) - BETER BED HOLDING NV  BETR.AS :
    * SEES CONTINUED STRONG SALES AND ACHIEVES HIGHER NET RESULT
OVER
H1 2021
    * H1 NET PROFIT FROM CONTINUING OPERATIONS ROSE 43.7 PERCENT
TO
4.1 MILLION EUR
    * ORDER BOOK INCREASED BY 11.3% TO EUR 24.7 MILLION VERSUS
ONE
YEAR AGO, DRIVEN BY 13.3% LFL ORDER INTAKE IN Q2
    * GROSS PROFIT INCREASED BY 5.0% TO EUR 54.3 MILLION,
RESULTING IN
NET PROFIT FROM CONTINUING OPERATIONS OF EUR 4.1 MILLION (+
43.7%) FOR H1 2021
    * Q2 SALES GROWTH AMOUNTED TO 15.5% WITH BENELUX GROWING BY
14.2%
LFL AND NEW BUSINESS BY 69.6% LFL RESPECTIVELY.
    * OUTLOOK FY 2021: NOTWITHSTANDING CURRENT ECONOMIC AND
HEALTH
UNCERTAINTIES IN RELATION TO COVID-19 WE CONTINUE TO FEEL
CONFIDENT DELIVERING OUR 2025 MEDIUM-TERM OBJECTIVES AS
PRESENTED IN OUR STRATEGY UPDATE
    * H1 ONLINE SALES FOR GROUP HAVE GROWN 123%, LEADING TO A
CHANNEL
SHARE OF 32.7%, PARTICULARLY DUE TO A CONTINUING STRONG
PERFORMANCE IN Q2 OF +40.4% IN BENELUX AND +128% FOR NEW
BUSINESS.
    * H1 EBITDA EUR 13.7 MILLION VERSUS EUR 14.8 MILLION YEAR
AGO
    * H1 NET PROFIT EUR 4.1 MILLION VERSUS EUR 2.8 MILLION YEAR
AGO
    * H1 REVENUE EUR 97.2 MILLION VERSUS EUR 96.6 MILLION YEAR
AGO
    * TOTAL CASH FLOW FROM OPERATING ACTIVITIES IN THE FIRST
HALF OF
2021 AMOUNTED TO € 12.3 MILLION (FIRST HALF OF 2020 € 19.7
MILLION)
    * DURING 2020, COVID-19 DID NOT MATERIALLY IMPACT THE
FINANCIAL
POSITION OF THE GROUP WHILST THE LOCKDOWN PERIOD IN 2021 DID
HAVE SOME EFFECTS
    * FOR THE MEDIUM TERM WE BELIEVE WE ARE WELL-POSITIONED TO
BENEFIT
FROM INCREASED CONSUMER SPENDING AND MACRO TRENDS POINTING AT
INCREASED ATTENTION FOR WELL-BEING AND HEALTH

Source text for Eikon:  ID:nGNE9ByRjx 
Further company coverage:  BETR.AS 

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