Bijou Brigitte Modische Accessoires AG

Latest Results (13.06.2026):

Bijou Brigitte Modische Accessoires AG — first half (H1, Q1–Q2) 2025 results: Group sales for 1 Jan–30 Jun 2025 were EUR 154.8 million (up 2.2% y/y from EUR 151.5m). Earnings before taxes (EBT) were EUR 6.5 million (broadly flat y/y), and net profit after tax was EUR 3.93 million. This summary reflects the company’s half‑year report as of 30 June 2025.

Sales and profitability

Group revenue: EUR 154.8m (+2.2% vs H1 2024). EBT/EBIT before tax: EUR 6.5m (unchanged y/y). Operating profit was EUR 9.14m; financial result weakened to EUR –2.63m (prior: –1.53m) largely due to lower interest income.

Net income and EPS

Net profit after taxes: EUR 3.929m (H1 2024: EUR 3.575m). Basic/diluted earnings per share: EUR 0.52 (H1 2024: EUR 0.46).

Segment performance

All regional segments except Germany posted y/y sales gains. Germany slightly down at EUR 79.0m (–0.3%). Notable increases: Italy +6.6% to EUR 15.9m, France +6.5% to EUR 13.3m, Other countries +5.6% to EUR 26.7m.

Store network and concessions

Group store network: 905 stores/concessions as of 30 June 2025 (31 Dec 2024: 913). In H1: 11 stores opened, 19 closed. Concession sales spaces: 570 (31 Dec 2024: 581); 42 new concessions opened, 53 closed.

Balance sheet and liquidity

Total assets: EUR 375.6m (31 Dec 2024: EUR 410.8m). Cash & cash equivalents: EUR 64.8m (down from EUR 81.8m). Group equity: EUR 205.6m (31 Dec 2024: EUR 234.4m); equity ratio 54.7% (vs 57.0%). No bank loans; available overdrafts unused.

Cash flows, dividends and share buy‑back

Cash flow from operations: EUR 26.1m (H1 2024: EUR 27.4m). Investing cash flow: EUR 10.3m. Financing cash flow: EUR –52.3m driven by the June 2025 dividend (EUR 3.50/share) and share buy‑backs (programme terminated 15 Jun 2025).

Costs and key operating items

Cost of materials ratio improved to 20.4% of sales (from 22.0%) partly due to favourable USD purchase rates and price adjustments. Personnel costs rose modestly +1.2% to EUR 46.6m; other operating expenses increased 12.3% to EUR 46.5m (exchange‑rate valuation losses contributed).

Inventory, capex and financial outlook

Inventories: EUR 78.0m (31 Dec 2024: EUR 79.3m). FY2025 guidance (updated): revenue EUR 330–350m, Group earnings before taxes EUR 26–36m, inventories EUR 75–85m at 31 Dec 2025, capex EUR 12–18m, expected equity ratio 53–58%. Company now expects store count at year end roughly unchanged vs prior year (913) after a franchise consolidation.

Risks, opportunities and management view

Management cites macro and trade uncertainty (notably potential US tariffs), weak in‑store footfall, stronger price competition from non‑EU/Asian platforms, and skilled‑labour shortages as ongoing risks. The Board still assesses the Group as financially stable and does not see a going‑concern risk for 2025.