Beter Bed Holding N'V'

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Beter Bed Holding N.V.
Annual results 2003
12 March 2004
Frans Geelen
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Agenda

• Financials
• Objectives and policy
• Divisions
• Summary outlook 2004

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Sales per quarter
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EBIT per quarter
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Annual results 2003 - P L
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Key data
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Consolidated balance sheetTotal Assets
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Consolidated balance sheetTotal Liabilities
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Cashflow
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Objectives

• Improving net profit, also under the current
  adverse market conditions
• Positioning the company to optimally benefit from
  market recovery

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Policy

• Increase sales through additional promotional
  activities
• Increase gross margin
• Reduce costs per store
• Maintain profitable expansion
• Strengthen balance sheet

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Breakdown of net sales
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Gross margin
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Costs per store

• 2003 Costs per store decreased by 4
• 9 lower than in 2001

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Number of storesper formula
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Balance sheet
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Focus and organisation

• Business focus on growth in retailing and
  marketing of bedroom furniture, mattresses, bed
  frames and related sleeping market products and
  services
• Geographic focus is on Europe

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Strategy for growth

• International expansion
• LFL growth
• Branding
• Possible acquisitions

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Beter Bed Netherlands
Locations A1 A B C Total
Total Sr. Jr. 1999 34 21 10 8 66
7 73 2000 44 25 8 6 70 13
83 2001 43 23 5 4 66 9
75 2002 46 24 2 4 68 8
76 2003 45 24 2 4 70 5 75
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IT system

• Implementation of new IT system completed in
  November
• Better information to customer
• Higher efficiency in logistics
• Shorter delivery times

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Matratzen Concord
Stores in 2003 53 new stores and 32 stores
closed
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Turnover development 2003Matratzen Concord
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Branding

• Sales development in The Netherlands is good
• Growth in Germany lower than expected
• New products

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Dormaël Slaapkamers

• Sales development better than market
• Segment is hit hard by economic circumstances
  difficult market conditions remain
• Bankruptcy of one of the franchisees

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Beddendump

• Discount cash carry concept
• 13 stores at the end of the year

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WasserbettenDiscount

• Test
• Beter Bed assortment in waterbeds
• Matratzen Concord location policy
• 6 stores at the end of the year

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Production

• Production will be concentrated at one location
• Number of employees at the end of the year 284
  (2002 292)

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Summary

• / Sales and market share
• / Expansion of store base
• / Cost efficiencies
• / EBIT
• / Net Profit
• / Strengthened balance sheet
• -/- No recovery of the market yet

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Shareholder value

• Share price
• Dividend payment over 2003
• Corporate Governance/transparency

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Share price developmentsince January 1st, 2003
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2004

• Policy aimed at
• Improving net profit, also under the current
  adverse market conditions
• Positioning the company optimally to benefit from
  market recovery

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Beter Bed Holding N.V.
Annual results 2003