The company’s directors say earnings before interest, tax, depreciation and amortisation (Ebitda) should reach €2.6m in 2026, compared to €1.7m in 2024 – the latest year for which publicly-available accounts have been filed.
It also anticipates its pre-tax profit rising to €1.5m this year. That compares with €148,000 in 2024.
Bakers + Baristas was formerly known as BBs Muffins.
It was sold by billionaire Denis O’Brien in 2015 to David Raethorne’s Causeway Capital for an estimated €10m.
It has almost 60 outlets in Ireland and the UK, including a mix of company-owned and franchised stores.
The latest set of consolidated accounts just filed for the business show that turnover rose 4pc in 2024 to €23m.
Its Ebitda was up €200,000 that year, once one-off exceptional income recorded in 2023 was excluded.
The directors noted that margins remained stable during 2024 despite significant cost pressures.
Bakers + Baristas opened two new franchised stores that year, while one unprofitable Irish outlet was closed.
The accounts note that cumulative dividends were accrued on the company’s A and B preference shares at a rate of 10pc for nine years, amounting to a cumulative accrual of just over €4m as at January 1, 2024.
“Upon review, these dividends were never formally declared,” the accounts add.
“As a result, management determined that an adjustment should be included to reverse the accrued dividends and liability and restating the comparative figures and impacted financial statement line items at the beginning of the prior year.”
There was no cash impact as a result of the adjustment.
The company had outstanding bank loans of €3.7m at the end of 2024, down from €4.4m at the end of 2023.
Causeway Capital also owns Patisserie Valerie. It bought the cafe business out of administration in 2019, just before the pandemic. Just before lockdowns ensued in 2020, Causeway merged Patisserie Valerie with Bakers + Baristas.
The company said its management team has “ambitious plans and a clear strategy” to continue growing the brand in coming years.
It said this will involve store refurbishments, upgrades at key locations to enhance the customer experience, and franchise expansion to enter additional markets.
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