Lexington, Kentucky -- Tempur Sealy has announced its EBITDA (earnings before interest, tax and deprecation) of $52.1m for the second quarter of 2014, a drop of 23% on Q2, 2013 ($67.8m).
However, sales across the business rose, according to the company’s latest financial report. Total net sales increased 8.2% to $715m in Q2, 2014 compared to $660m during the same quarter last year, said the company.
The company has estimated that 2014 net sales will bring in $2.975bn of revenue this year, it would represent a 1.7% on the company’s sales of $2.925bn during 2013.
Tempur North America’s sales were up. A rise of 10% to $237.3m in Q2 on last year’s Q2 sales of $215.5m. Bedding sales were up 12.2% during this year’s second quarter - $223.9m compared to $199.5m during Q2 2013.
At Tempur International net sales also rose 9% to $109.5m in Q2, 2014 compared to $100.5m in Q2, 2013. In bedding, the sales hike was 10.3%, $81.5m in Q2, 2014 from $73.9m in the same quarter last year.
Tempur’s Sealy segment saw net sales increase 6.8% during Q2, 2014. The segment’s turnover was $368.2m, compared to $344.6m in Q2, 2013. Bedding sales rose 8.3% to $352m in Q2, 2014 compared to $325.1m in Q2, 2013.
Sealy, as previously reported at UTECH-polyurethane.com, was acquired by Tempur-Pedic International Inc in 2013. Its business focused on the sprung mattress market.
Also during the second quarter of 2014, the company completed the acquisition of the Sealy brand rights in continental Europe from its former licensee and sold its three US innerspring component production facilities, as previously reported at UTECH-polyurethane.com.
This latest financial report reflects the $20.4m loss on the disposal of the Sealy sprung mattress component facilities, as UTECH-polyurethane.com reported at the time.