Bijou Brigitte Modische Accessoires AG

Latest Results (21.03.2026):

Bijou Brigitte Modische Accessoires AG — Q4 / full-year 2024 (year ended 31 December 2024): the Group reported modest top-line growth with revenue of €333.9m (+1.8% vs. 2023) and maintained solid cash generation, while profitability eased slightly (EBT €33.5m, down 7.1%). Management proposes to keep the dividend at €3.50/share. Key drivers were stable store performance, higher operating costs (personnel, premises, marketing) and increased lease-related depreciation.

Revenue and scale

Group revenue: €333.9m in 2024 (+1.8% year‑on‑year), within the company’s €330–350m forecast. Store network expanded to 913 locations (from 897), and the online shop was available in seven countries by April 2024.

Profitability

EBT (earnings before taxes): €33.5m (2023: €36.0m). Consolidated net profit: €23.6m (2023: €24.1m). Return on sales declined to 10.0% (from 11.0%). EBITDA ~€89.0m; EBIT €36.3m. Earnings were weighed down by broadly higher costs and higher depreciation/amortisation.

Costs and operating items

Personnel costs rose to €92.9m (+4.9%), other operating expenses €86.2m (+4.7%), and depreciation/amortisation increased to €52.6m (notably right‑of‑use depreciation). Cost of materials as a share of revenue improved slightly to 21.5%.

Cash flow and liquidity

Cash and cash equivalents: €81.8m (19.9% of total assets). Cash flow from operations: €74.0m (stable vs. 2023). Cash flow from investing was positive €6.5m (driven by repayments of prior financial investments); cash flow from financing was –€68.3m (dividends and share buy‑backs).

Balance sheet and capital structure

Total assets €410.8m, equity €234.4m and equity ratio 57.1% (down from 58.8%). Long‑term liabilities rose primarily due to higher lease liabilities (lease liabilities ~€96.8m), reflecting lease extensions.

Capital expenditure and stores

Capex (PP&E and intangibles): €14.1m (mainly store renovations and openings), within the guided €12–18m. German & Dutch store count (Bijou Brigitte AG): 433 stores as of 31 Dec 2024.

Dividend & per‑share metrics

Management will propose a dividend of €3.50 per share (same as prior year). IFRS EPS: €3.07. Proposed total distribution (gross) based on 8.1m shares: €28.4m (company cited different effective payout depending on treasury shares).

Segment highlights

Germany: revenue €172.3m (+2.8%), EBT €21.6m. Spain: revenue €35.8m (–2.5%), EBT slightly lower. Italy: revenue €34.4m (+2.4%) but EBT decreased due to cost rises. France: revenue €28.0m (+4.5%) but negative EBT driven by higher impairments. Other countries: revenue €55.6m (+1.9%), EBT down from prior year.

Liquidity & risk notes

No bank loans; minimal unused overdraft facility (€0.3m). Management continues to monitor currency exposure (USD purchasing costs) and retail market pressures; they reported results broadly in line with their published forecast ranges for 2024.