Beter Bed - Objectives

Objectives

Whereas in 2001 the objectives of Beter Bed N.V. were simply defined as aiming at fast and profitable expansion in the fragmented European bedroom furniture market whereby the various subsidiaries were supposed to endeavour to become market leaders in those countries they were active in on the one hand, and by developing own brand products which were to be sold by the company's own retail chains as well as through other distribution channels on the other hand, the objectives since then have become more specific and detailed. The company now aims to strengthen further its alleged market leadership in Europe by positioning itself in such a way to make use of any possibility of growth. Also, even though a temporary decrease in net profit is considered to be possible under exceptional circumstances, one of the goals is still to increase net profit regardless of market conditions. Additionally, Beter Bed claims that the basis for all its actions is to follow the'customer is king' principle which would enable it to further strengthen its position as the European market leader, and that always in a socially responsible manner. A further objective is a strong, healthy balance sheet with solvency of at least 30% and a ratio between net interest-bearing debt and earnings before interest, taxes, depreciation and amortization not exceeding two. Finally, Beter Bed will continue to publish progess reports annually related to its corporate social responsibility policy.