Products are distributed through a network of 65 stores (55 company-owned and 10 franchised) located in France, and via hypermarkets, local retailers, and vending machines. France accounts for 98.9% of net sales, reflecting strong domestic market penetration in the regional bakery sector.
Cyborg Score Rationale
Last year the company generated 119.00 M EUR with the top-performing Network segment contributing 71.69 M EUR. However, limited scale, heavy geographic concentration in France, and modest EBITDA margins suggest execution risks in a competitive market.
Top Insights
IPO completed December 2, 2015 at EUR 5.10, transitioning from family business to public markets
66 stores network as of September 2024 indicates controlled organic expansion
EBITDA margin of 11.61% reflects modest operational efficiency
Heavy reliance on France (98.9% of sales) limits geographic diversification and growth optionality
Named Competitors
Fresh and frozen bakery products — Competing direct retail distribution networks
Catering services — Corporate and event catering alternatives
Hypermarket distribution — Private label and branded bakery/pastry products
Recent Developments
(January 2026) FY2025 consolidated results published January 28, 2026
(September 2024) Network comprised 66 stores with 55 company-owned locations
(March 2026) Stock price EUR 6.10, up 2.52% in recent trading
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