Bijou Brigitte modische Accessoires (BIJ) H2 2025 earnings summary

Executive summary

• Revenue increased by 1.2% year-over-year to €338.0 million, driven by growth in Italy, Portugal, France, and Spain, despite subdued German consumer sentiment.

• Group earnings before taxes rose to €34.7 million from €33.2 million, with net profit after taxes up 1.2% to €23.7 million.

• The store network decreased to 904 locations, reflecting ongoing optimization and closures in less profitable markets.

• A significant logistics invoice fraud was uncovered, resulting in a €2.4 million refund and adjustments to prior years’ inventory valuations.

Financial highlights

• Revenue: €338.0 million (+1.2% year-over-year); EBT: €34.7 million; Net profit: €23.7 million.

• Cost of materials ratio improved to 19.0% (from 21.2%), aided by favorable USD/EUR exchange rates.

• Personnel costs rose 2.8% to €95.5 million due to minimum wage increases and salary adjustments.

• Equity ratio at 56.2% (down from 56.9%), impacted by share buybacks.

• Dividend proposal of €6.00 per share (up from €3.50), including a €2.50 special dividend.

Outlook and guidance

• 2026 revenue forecast: €330–350 million; EBT expected between €25–35 million.

• Equity ratio projected at 52–55%; capital expenditure planned at €7–12 million.

• Store count expected to rise slightly; focus remains on profitable growth and omnichannel expansion.