Nederlands    
Company profile
The management
Organisation structure
History
 
 
     
 
   
 
   

The company was founded in 1981 under the name Beter Bed. During this period the first three Beter Bed bedroom furniture showrooms were opened in the Netherlands. Bedroom furniture showrooms were a relatively new phenomenon in the 1980s and the bedroom furniture market was primarily served by large department stores and furniture stores. From its very beginning, the formula of Beter Bed was focused on offering a high-quality and wide range of products to consumers at extremely competitive prices. Beter Bed is still guided by this formula today. The company enters a period of growth in the second half of the 1980s.

 

In 1986 Beter Bed expands its operation to begin manufacturing its own products at a modern equipped factory in Uden, the Netherlands. This manufacturing branch of the organisation operates under the name Bedden and Bedden B.V. The manufacturing activities are subsequently expanded in the 1990s to include two plants in Poland, Ecowood (1994) and Interwood (1996). Primarily pine furniture is produced in Poland.

 

The shares of Beter Bed Holding N.V. have been listed on the Official Market of Euronext N.V. in Amsterdam since December 1996. This flotation has led to a sharp increase in the number of shareholders. Both private and institutional investors in the Netherlands and abroad have included the share in their portfolios. Dormaël Slaapkamers B.V., a chain of bedroom furniture showrooms aimed at the upper market segment, was also added to the organisation in 1996.

 

In 1997 the Beter Baby formula was established with the aim of gaining market share in the baby furniture and accessories market. Beter Bed Holding purchased DFC Comfort in the same year. The acquisition of DFC provides Beter Bed with exclusive representative rights in the Benelux for orthopaedic “Tempur” mattresses and pillows.

 

In addition to the ongoing expansion of the Beter Bed formula in the Netherlands, in 1998 the company took its first steps abroad by opening two Beter Bed stores in Germany. The organisation is also expanded to include the German company Matratzen Concord. The company proceeds to expand Matratzen Concord internationally in Austria and Switzerland (1998), the Netherlands (1999), and France and Italy (2000).

 

After the rapid growth 2000 was characterised by a number of changes to the organisation. These changes include a restructuring programme at Beter Bed Nederland, selling the M.D.F. factory in Uden and transforming Dormaël Slaapkamers into a franchise organisation. Beter Baby continues as an independent organisation as the result of a management buy-out. There is also a change of management in the same year.

 

2001 is marked by the strong restoration of profitability across the entire company. In this year the activities of DFC Comfort are suspended and a new company is established, DBC International, which concentrates on the sales and marketing of the independently developed line of M Line matrasses. The company's international expansion continues to move forward successfully. In 2001 the number of stores increased from 495 to 555.

 

In part owing to the rapid deterioration of the economy and consumers' related reluctance to make large purchases, Beter Bed is forced to end the year with a loss in 2002 for the first time in its history. In early 2002 a bid is made for all the shares of Beter Bed Holding of € 16 per share. In view of the fact that this bid was not high enough for the shareholders and it was impossible to arrange financing in connection with the deteriorated short-term prospects, the decision is made not to proceed with the bid.

 

From early 2002 the company's policy has been focused on growth in turnover, cost-savings, strengthening the balance sheet and continuing the international expansion. The company also begins implementing new IT systems. Beter Bed Holding has been included in the NextPrime segment of Euronext since November 2002. This policy begins producing results in the second half of 2002.

 

The company once again achieves a positive result in 2003. Despite the demonstrably falling demand for bedroom products, the company is able to achieve both increased turnover and market share. The new IT systems also enable the company to realise major improvements in the area of efficiency.

 

The upward trend is continued in 2004. The favourable development of the results makes it possible to further accelerate the expansion in the number of the retail stores and, at the same time, to sharply increase the dividend. In order to spread the payment of dividend more evenly across the year the company starts paying out an interim dividend.

 

The objectives of improving profits and positioning the company to optimally benefit from a market recovery are also maintained for 2005. Beter Bed no longer sees own production as a core activity and closes the last remaining factory in Poland in May. This enables the company to fully focus on retail activities. In June the first Slaapgenoten store is opened, a contemporary formula in the upper segment of the market. On 15 September 2005 Beter Bed Holding announces that it has reached agreement regarding the acquisition of El Gigante del Colchón, a Spanish bedroom furniture chain with 20 stores in the Barcelona region.

 

In order to improve the tradability of the shares it is proposed to the shareholders to split each share which has a nominal value of

€ 0.05 into 2.5 shares with a nominal value of € 0.02. In the Annual General Meeting of shareholders in 2006 this resolution is adopted.  

 

In October 2006 Beter Bed Holding opens the first store of a second mattress formula in Germany, named MAV – Matratzen-Abverkauf.

 

Consumer sentiment deteriorated in the summer of 2007 in connection with the initial reports on the credit crisis and rising inflation. The company was nonetheless able to post excellent profit, pay out a record of dividend, realise a share buy-back program and open a net total of 121 new stores that it financed from its own resources. 

 

In the first half of 2008 a sharp decline of consumer confidence was outlined. From the second quarter of 2008 customers in the bedroom furnishing market were clearly cautious in their spending. In a shrinking market the formulas of Beter Bed Holding nonetheless succeeded in releasing growth in revenues and expanding market share in the year under review. Beter Bed was able to close the year with a good result and a robust balance sheet. In August the 1000th store was opened.  

 

The strong formulas of Beter Bed Holding are ready for the future. 

 

 

 

 

 
 
 
   
 
 
 

 

     
Beter Bed Holding N.V.   Linie 27    NL-5405 AR Uden   Tel : +31 413 338819   Fax :+31 413 338829