Highlights
• Q4 sales amount to € 61.3 million with strong growth driven across all businesses.
• Order intake in Benelux in Q4 (+15.1% like-for-like) and New Business (+52.0% like-for-like) resulted in
+18.7% in order intake over Q4 and +24.8% for the full year (like-for-like).
• Order book rose to a record level 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.
• Online sales up 119.2% in Q4, leading to a channel share of 17.4% over Q4 and 14.8% for the full year.
• Strong performance New Business with significantly improved sales at Sängjätten and continued
significant growth in the B2B channel at DBC.

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John Kruijssen, CEO of Beter Bed Holding, comments:
“The fourth quarter of 2020 marks our seventh consecutive quarter of revenue growth for the Group both offline and online. Our strategy to improve sleep quality of our customers, through all activities we initiate, is clearly paying off. The investments to further digitalise our company and to enhance the customer journey are showing exciting results and better insights to support revenue growth and customer appreciation. In 2021, we will continue to build on our strategic journey of delivering quality sleep through newly developed product ranges, the implementation of technology generated advice, partnerships with specialists and more support services for our customers, while we continue to be the price leader in our market.”

COVID-19 update
The current lockdown and the more generic COVID-19 developments affect all of us. It is difficult to predict
how 2021 will unfold although the vaccines in various countries might bring some relief. Consumer confidence continues to be depressed and the economy volatile. We continue our focus on cost control,
disciplined capital spend and strict cash flow management, while we further increase our investments in online and further digitalisation. Active stock and supplier management is in place in order to manage
disturbance caused by the lockdown. Precautionary measures are taken and constantly reviewed to ensure safe working and, when possible again, safe shopping conditions.

Number of stores
The table below shows the development of the number of stores in 2020.

Benelux
Commercially, Benelux has experienced a very successful fourth quarter, especially during the Black Friday period. With the ‘always-on’ omnichannel marketing strategy sales grew by 29.4% compared to last year and
like-for-like order intake grew by 15.1% compared to last year. Absent the mandatory lockdowns of the stores in the Netherlands from 15 December onwards and in Belgium during November, these reported
growth rates would have been even higher. Online sales grew by 117.1%, representing an online channel share of 18.9% in the fourth quarter. Although partly driven by the lockdowns, this development highlights
the success of our digital acceleration during 2020.
A new sustainable, innovative bed named ‘Karlsson Bädd’ was introduced and a digital tool to better service clients named Chatbot Bo was successfully launched. Furthermore Beter Bed launched its ‘Slaapkoppen’ campaign, focusing on the effects of sleeping well on people’s health, well-being and happiness next to nutrition and exercise. This new brand positioning campaign will highlight the importance of getting a good night’s sleep.
During the year, Beter Bed’s operations proved to be very resilient in a time of COVID-19 and the online sales
increase was very strong, all supported by the investments made to re-platforming of the beterbed.nl website to make it faster and scalable, new digital marketing tooling and big data computing capabilities.

New Business
Sales in New Business, comprising the DBC wholesale business and Sängjätten in Sweden increased by 23.6% compared to last year to € 7.0 million, with a like-for-like sales growth of 63.3%.

DBC
Like-for-like DBC performed much better in terms of sales and order intake, driven by a higher consumer spending pattern and successful consumer promotions, including Black Friday. As a result of the second lockdown mid-December, DBC recorded a lower order intake from its dealers and customers.
In the fourth quarter Beter Bed Holding signed an agreement with Asian retailer DeRUCCI, and several agreements with other international retailers were optimised. In the Netherlands DBC started a M line brand
store in Nijhoff Shopping in Baarn.

Sängjätten
The Swedish business showed a very strong fourth quarter, with continuing like-for-like growth in sales and order intake. Both online and in-store sales were up for the second quarter in a row and all own stores have now undergone a refit. The launch of the new Sleeping World brand in the stores was particularly successful.
Sängjätten is now well-positioned to be a more dominant independent sleep specialty store in the Swedish
market.

About Beter Bed Holding

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