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Beter Bed Holding announces AGM and provides update on the first quarter

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Beter Bed Holding NV
·4-min read
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Today, Beter Bed Holding N.V. (Beter Bed Holding) has published the notice and agenda for its Annual General Meeting (AGM) to be held on Wednesday, 12 May 2021. Due to the continued presence of COVID-19 (Coronavirus) in the Netherlands, and on the basis of the Temporary Law COVID-19 Justice and Safety, shareholders can only virtually attend the Annual General Meeting through a live webcast. Shareholders can exercise their voting rights by way of an electronic proxy with voting instructions.

During the AGM, Beter Bed Holding will look back on the results achieved over 2020, and update the shareholders on the current developments. Following a very strong 2020, in which Beter Bed Holding has clearly proven that it has outperformed the positive bedding market with its new strategic route, the year 2021 was started with a record order book of € 24.8 million (up 19% vs. 31 December 2019), despite the COVID-19 pandemic and store closures following the second lockdown as of mid-December. Furthermore, Beter Bed Holding intends to provide its shareholders with an update on its strategy and priorities for the mid-term during the upcoming AGM.

Update first quarter 2021
In the first quarter of 2021, sales have been impacted by the mandatory store closures in the Netherlands, which has partly been offset by the strong growth in online sales. Beter Bed Holding has clearly benefited from the investments made in its omni-channel approach and online order intake continued to increase significantly compared to the same period a year earlier. The current “shopping by appointment” regulations, in place in the Netherlands since 3 March 2021, have helped to bring in-store order intake back to pre-COVID levels. In light of its current performance, Beter Bed Holding is not eligible for the Dutch governmental support schemes NOW (tegemoetkoming personeelskosten) or TVL (tegemoetkoming vaste lasten en voorraadvergoeding), which both have a 20% decrease in sales threshold.

John Kruijssen, CEO of Beter Bed Holding, comments:
“Although the lockdown in the Netherlands still constraints us to open in full, we are very pleased to be able to welcome many customers back in our stores within the current guidelines. We have taken all precautionary measures to ensure a safe shopping experience. At the same time, we experience a continuously increasing traffic on our websites and we continue to invest in our digital capabilities. We have increased stock levels and improved methods of transportation to ensure deliveries can continue to take place within normal lead times.”

Shopping by appointment
Since 3 March 2021, the Dutch government has allowed shops to reopen by appointment only. This fits the Beter Bed and Beddenreus formulas very well, and all Beter Bed and Beddenreus stores in the Netherlands have been open since. Customers have reacted extremely positive. The stores take all the health authorities’ guidelines into account and continue to see employees and customers health as their first priority. As stated during the last COVID-19 press conference on Tuesday 23 March 2021, the number of infections is still increasing, as is the number of COVID-19 patients in intensive care units (ICUs). The current measures are therefore prolonged until 20 April 2021.

Beter Bed Holding will continue to welcome its customers through “shopping by appointment” and via its websites Beterbed.nl and Beddenreus.nl, and continues to benefit from the increased attention consumers have for health and well-being during this pandemic, with spending on a good night’s sleep significantly higher.

Further updates
At the AGM, Beter Bed Holding will publish a strategy update. Beter Bed Holding will publish its Q1 trading update on 16 April 2021. The latest information on the AGM, such as the agenda including explanatory notes and the notice for the AGM, is available on the company’s website www.beterbedholding.com.

About Beter Bed Holding
Beter Bed Holding is a sleep specialist operating in the European retail, wholesale and B2B sectors, providing the very best beds and sleep products at affordable prices to match the unique needs of every customer. We believe that the better we sleep, the happier, healthier and more productive we are. And we will not rest until everyone gets the high-quality sleep they deserve.

At year-end 2020, Beter Bed Holding N.V.’s 151 stores generated revenue of over € 222 million, with approximately 15% share of online revenue.

Beter Bed Holding has been listed on Euronext Amsterdam with security code BBED NL0000339703 since December 1996.

For more information
Press enquiries: Uneke Dekkers / CFF Communications
T +31 (0)20 575 4010 or M +31 (0)6 50261626
E uneke.dekkers@cffcommunications.nl

Please click for the PDF of the press release on the link below. Press photos can be downloaded here.

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