Highlights
- Q1 sales amounted to € 63.5 million (+5.1% vs Q1 2022; +1.3% vs Q4 2022) with strong performance in Benelux
- Like-for-Like order intake Q1 increased by 9.5%, resulting in a stable order book of € 19.5 million (€ 19.5 million per end of Q1 2022)
- Online sales leading to an online channel share of 17.0%, with underlying high double-digit order intake growth for Benelux (excluding 2 weeks of lockdown)
- Performance well above pre-COVID levels with Compound Annual Growth Rate (CAGR) over FY2019 to FY2022 of +8.7% in sales and +6.7% in order intake
- Due to weaker performance of national and international independent retailers, and two product launches delayed, New Business sales down (-6.7% vs Q1 2022)
- On track with CSRD guidelines with sustainable initiatives launched in Q1
John Kruijssen, CEO, comments:
“Our first quarter performance in 2023 underlines the success of our positioning as a sleep specialist, whilst the growth in bedding textile sales has also contributed to this success. The week-long campaign we launched to promote the Day of Sleep helped to increase awareness of the importance of quality sleep.
The rollout of our Beter Slapen ID system to Beter Bed stores is on track with now three-quarters of the Beter Bed store network connected, and our team has once again been honored with multiple marketing nominations and awards. We are committed to sustainability, and I am pleased with our progress in transitioning to electric vehicles, and the comprehensive risk assessment of our suppliers, which will support the further advancement in sustainability. To become an employer of choice, we place strong emphasis on continuous learning and development for our employees, with a number of initiatives launched to retain and grow in-house talent.
Overall, I am confident that our focus on strategic priorities and our ongoing efforts to refine and reinforce our business model will continue to drive revenue growth this year. With our strong Q1 2023 performance and commitment to sustainability, I have faith that BBH will be able to further expand its market leadership.”
For the complete version of the press release, please click on the link under attachment.
Press photos can be downloaded here.
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