The outlook for DBC is promising with new products, new partnerships and expanding the internationalretail network.
Sängjätten
As published on 9 July 2021, BBH reached agreement with the Lars Larsen Group to sell the operations in Sweden. The
transaction was successfully completed with economic effect per 30 June 2021. It has been agreed between parties
that no financial details will be published.
Outlook
Amidst post COVID-19 recovery, caution remains needed as there are again increases in the number of positive cases.
We continue to carry out assessments to understand the potential disruptions in the supply chain, commodity prices,
transportation shortage and costs and the appropriate stock levels to ensure availability for our customers and
consumers.
During 2020, COVID-19 did not materially impact the financial position of the Group whilst the lockdown period in
2021 – with the vast majority of the stores closed due to government measures taken - did have some effects.
However, as sales continued to be strong, the Group never had to apply for government support.
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. With our continued digitalisation and the
combination of in-store advice and online sales, we will continue to grow our sales and profitability. Notwithstanding
the 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.
4 BETER BED HOLDING N.V. H1 2021 RESULTS - UNAUDITED
Risk paragraph
BBH's operations, which are based on the Group’s strategic objectives, are affected by the management of a number
of opportunities and risks. For this reason, we have implemented a risk management system to monitor and control
the Group’s most important risks. This involves applying a matrix that describes the risks, their financial and nonfinancial impact, the probability that they will occur, control measures, and the actions to be taken. This matrix is
updated and discussed in the Audit Committee twice a year and the key points are reported to the Supervisory Board.
BBH operates in the bed and mattress segment. BBH's risk appetite is based on the Company's operational results,
financial position and carefully considered financial management. Although the Company's daily operations involve
taking risks, BBH adopts a prudent and balanced approach to those risks. More information about the risk appetite in
the various categories defined by BBH is explained in the last annual consolidated financial statements for the year
ended 31 December 2020.
Declaration by the Management Board
Pursuant to section 5:25d, paragraph 2(c), of the Dutch Financial Supervision act (Wet op het Financieel toezicht
(Wft)), the Management Board states that to the best of its knowledge the 2021 Interim financial statements, which
comprise the Company and its subsidiaries (jointly ‘the Group’ or ‘BBH’) and the Group’s interest in its joint venture,
give a true and fair view of the condensed consolidated balance sheet, the condensed profit and loss account, the
condensed statement of comprehensive income, the condensed consolidated statement of changes in equity, the
condensed cash flow statement and the notes to the condensed consolidated financial statements.
This press release contains information that qualifies as inside information in the sense of Article 7 paragraph 1 of the
EU Market Abuse Regulation.
Safe harbour statements
Forward-looking statements
Some statements included in this report contain forward-looking statements. These statements may relate to or may
affect future matters concerning future results, strategies or business plans, but may also include the impact of
regulatory initiatives on the operation of BBH. Forward looking statements may, without limitation, include wordslike
“believes”, “intends to”, “expects”, “anticipates”, “will”, “may”, “could”, “should”, “intends”, “estimate”, “plan”,
“goal”, “target”, “aim” or expressions similar to those. These forward-looking statements rely on a number of
assumptions concerning future events and are subject to uncertainties and other factors, many of which are outside
the control of BBH and that could cause actual results to differ materially from such statements. A number of these
factors are described (not exhaustively) in the 2020 Annual Report. All forward-looking statements and ambitions
stated in this press release that refer to a growth or decline, refer to such growth or decline relative to the situation
per 30 June 2021, unless stated otherwise.
Financial Calendar
15-10-2021 Trading update Q3-2021
21-01-2022 Trading update Q4-2021
11-03-2022 Publication annual results + annual report 2021