Bijou Brigitte modische Accessoires (BIJ) H2 2024 earnings summary

Executive summary

• Revenue grew by 1.8% year-over-year to €333.9m, with stable performance in core markets and expansion to 913 stores across 18 countries.

• Pre-tax profit reached €33.5m, within the forecast range, despite increased costs in nearly all areas.

• Digitalization and omnichannel strategies advanced, with 29 new store openings and significant investments in logistics and online presence.

• Dividend of €3.50 per share proposed, yielding 10.2% on year-end price; share buyback program initiated.

• The company remains resilient amid geopolitical and economic uncertainties, focusing on sustainability and further expansion.

Financial highlights

• Revenue: €333.9m (+1.8% year-over-year); EBITDA: €89.0m (flat); EBIT: €36.3m (-8.9%).

• Net income: €23.6m (down from €24.1m); EPS: €3.07 (vs. €3.13); operating margin: 10.9%.

• Cash flow from operations: €74.0m; cash and equivalents: €81.8m (19.9% of total assets).

• Equity ratio: 57.1% (down from 58.8%); market capitalization at year-end: €261m.

• Dividend payout ratio: 120% of net income; dividend yield: 10.2%.

Outlook and guidance

• 2025 revenue expected between €330m and €350m; pre-tax profit forecasted at €26m–€36m.

• Store count to rise above 913; investment volume planned at €12m–€18m.

• Focus remains on cost containment, customer engagement, and continued expansion.

• Macroeconomic risks and consumer sentiment remain key uncertainties for 2025.