Dutch bedroom specialist Beter Bed has reported an uptick in sales and a strong order book as it expects future growth.
According to its full year results for 2022, total sales rose 7.1% to €229.4m from €214.2m in 2021, with gross profit increasing 7% to €126.4m at stable gross margin of 55.1%. EBITDA resulted at €28.8m, down from €33.2m, while net profit stood at €5.3m compared to €12.5m year-on-year.
Beter Bed said that its order book was strong at €23.1m, up 16.2% from September 2022, and has secured financing facilities of €30m to support further implementation of its strategic plan and the pursuit of ‘potential growth opportunities’.
On its sustainable efforts, 2022 saw Beter Bed transition to 100% green electricity and improve the energy efficiency of all its in-house operations. This resulted in a saving of 3,985 tonnes of CO2, which equates to 64% of its own operations’ carbon emissions over the year – “an important step towards our goal of being carbon neutral by 2030”, the business said.
“We are also striving to become an ever more circular business. During 2022, we adopted four sustainable product categories – circular, modular, certified natural and certified recycled – which now form part of our tender criteria for new products. Finally, as an organisation that touches many people’s lives both within and beyond our company, we were pleased to have secured the commitment of 100% of our suppliers to our Code of Conduct, which outlines how we expect them to conduct business.”
John Kruijssen, CEO of BBH, commented: “In 2022, our team made considerable progress in building our business at a time marked by challenging macroeconomic circumstances. The continued success of our strategic change in positioning from bedding retailer to sleep specialist – from introducing innovative store formats to the rolling out of ‘Beter Slapen ID’ – was reflected in double-digit NPS growth and an increase in market share.
“With a sales growth of 7.1% continuing the trend of the last three years, we achieved solid financial results. Whilst absorbing price pressure, we maintained our gross margin at 55.1% without having to charge customers with price increases, resulting in a strong value-for-money proposition. In line with our ambition to become an ever more sustainable organisation, we reduced our CO₂ emissions by 64% by transitioning to 100% green electricity and improving the energy efficiency of our operations.
“We continue to look to the future with confidence. 2022 demonstrated that our business is built on strong and sustainable foundations, and I am pleased that our strategy to forge deep and meaningful relationships with our customers is proving highly effective. Given the success of our strategic implementation and our financial position, we are proactively examining opportunities to expand our businesses.”