Bijou Brigitte modische Accessoires : Annual Report of the Bijou Brigitte Group 2020 (PDF / 1.1 MB)

The English translation of the consolidated financial statements is made available for the sake of convenience. The German version is the definitive version.

Securities Identification Number 522 950

ISIN DE0005229504

Key figures of Bijou Brigitte
Bijou Brigitte Group
	in TEUR		2016	2017	2018	2019	2020
	Figures pursuant to IFRS
1.	Revenue		336.273	326.595	321.615	333.952	204.875
	Change		1,8%	-2,9%	-1,5%	3,8%	-38,7%
2.	Total operating performance		336.982	327.232	322.204	335.016	205.106
3.	Personnel costs		90.255	89.430	90.563	90.753	72.120
	Change		3,9%	-0,9%	1,3%	0,2%	-20,5%
4.	Number of employees1)		2.994	2.933	2.895	2.863	2.542
	Change		3,4%	-2,0%	-1,3%	-1,1%	-11,2%
5.	EBITDA		49.869	45.951	44.752	103.460	31.863
6.	EBIT		36.738	32.583	31.544	42.771	-28.726
	% of total operating performance (EBIT ma	10,9%	10,0%	9,8%	12,8%	-14,0%
7.	Earnings before taxes		36.801	32.683	31.708	37.367	-33.727
	Change		-4,0%	-11,2%	-3,0%	17,8%	-190,3%
	% of sales (return on sales)		10,9%	10,0%	9,9%	11,2%	-16,5%
8.	Consolidated net profit		24.026	21.668	21.548	25.421	-30.971
	Change		-4,2%	-9,8%	-0,6%	18,0%	-221,8%
9.	Value creation		127.430	122.412	122.522	134.161	43.813
	Change		1,5%	-3,9%	0,1%	9,5%	-67,3%
10.	Accumulation		371	-1.987	-2.107	2.072	-30.971
	Change		-73,7%	-635,0%	-6,0%	198,3%	-1594,6%
11.	Non-current assets		60.272	57.864	56.274	53.914	44.807
12.	Right-of-use assets		0	0	0	157.099	125.368
13.	Capital expenditure		17.254	11.602	12.281	10.303	5.076
14.	Depreciation and amortisation		13.131	13.367	13.209	60.689	60.589
	Total assets		279.301	275.635	270.142	429.667	357.396
15.	Change		0,9%	-1,3%	-2,0%	59,1%	-16,8%
	Equity		242.237	239.478	234.663	229.490	195.306
	% of total assets		86,7%	86,9%	86,9%	53,4%	54,6%
16.	Return on equity		11,0%	9,9%	10,1%	12,5%	-13,7%
17.	Cash flow 2)		38.318	40.208	30.054	90.827	15.712
18.	Earnings per share (€)		3,05	2,75	2,74	3,27	-4,01
19.	Dividend per share(€)		3,00	3,00	3,00	0,00	0,00
20.	Total number of stores		1.096	1.060	1.050	1.042	990
1)	Average for the year - adjusted to full-time employees
2)	From operating activities

CONTENTS

FUNDAMENTALS OF THE GROUP	3
Business activity and corporate structure	3
Internal management system	4
Research and development	4
ECONOMIC REPORT	5
Overall economic and sector-related conditions	5
EUR/USD	6
German retail industry	6
Competition	7
Business development of the Group as a whole	7
Business trend by segment	8
Non-financial performance indicators	17
Other information	18
Declaration on corporate governance pursuant to Sections 289f and 315d of the German
Commercial Code (HGB)	18
OPPORTUNITIES AND RISK REPORT	21
Opportunities and risk management	21
Overall statement of the Management Board	21
Explanation and assessment of significant opportunities and risks	24
Economic risks	25
Market and industry risks	26
FORECAST REPORT	31
Expected trend in general economic conditions	31
Outlook for the Bijou Brigitte Group	33

2020 Group management report of Bijou Brigitte modische Accessoires AG

3

FUNDAMENTALS OF THE GROUP

Business activity and corporate structure

The Bijou Brigitte Group is one of the leading European fashion jewellery chains and looks back on a corporate history spanning 57 years as of this reporting year. The product range comprises around 10,000 articles offering attractive value for money, ranging from fashion and exclusive jewellery to fashion accessories, men's and children's jewellery. Bijou Brigitte focuses on a fashion-conscious target group consisting primarily of female customers. In addition to the classic product range, two main jewellery collections are presented twice a year - Spring/Summer and Autumn/Winter - in sync with the change in seasons. In addition, seasonal trend articles are offered for all festive occasions.

At the end of the reporting year, the Group had 990 stores in 21 countries. There are stores in Austria, Belgium, Bulgaria, the Czech Republic, Egypt, France, Germany, Greece, Great Britain, Hungary, Italy, Jordan, Luxembourg, the Netherlands, Poland, Portugal, Romania, Saudi Arabia, Slovakia, Spain and Switzerland. German stores made up around 44% of the total store network in 2020 (previous year: approx. 43%).

Sales are primarily made in Bijou Brigitte stores that are mainly located on highly frequented shopping streets and in shopping centres. The company has also been selling a selection of items in various department stores through licensed partners in Germany since 2008. In 2010, the company rolled this sales channel out internationally. Bijou Brigitte has had an online shop since 2006, which is constantly updated to meet customer requirements. The online shop is now represented in Germany, France, Italy, the Netherlands and Spain.

The main external influencing factors include the economic and macroeconomic conditions as well as market and industry developments, which had a far-reaching impact on the Bijou Brigitte Group's business development and earnings position in the 2020 reporting year, especially due to the coronavirus pandemic.