Eve Sleep narrows losses but cautions on coronavirus impact
Eve Sleep has narrowed its full-year losses, but warned that it expects “subdued demand” to persist during the coronavirus outbreak.
The online mattress specialist posted a statutory loss of £12.1m in the year to December 31, 2019 – an £8m improvement year on year. Underlying EBITDA losses were reduced by £8.5m year on year to £10.7m.
The bottom line progress came despite a fall in group sales. Revenues fell 19% to £23.9m during the year.
But Eve said its “sharpened focus” on profitable sales allowed it to enhance gross margins 70bps to 53.4%.
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