The company operates through segments: Roche Bobois France, Roche Bobois USA/Canada, Roche Bobois Other Europe, Roche Bobois Others, Cuir Center and Corporate. Revenue primarily comes from company-owned stores (90%), with additional sources from transportation/logistics services (4%), manufacturer commissions (3.5%), and franchise royalties (2.5%). The business combines owned retail locations with a franchise network, balancing direct control with geographic expansion.
Cyborg Score Rationale
The company maintains a very healthy financial structure with strong gross cash flow of €75 million, nearly €36 million in free cash flow, and €55 million in available cash as of December 2024. However, in a less buoyant market environment for furnishings, Roche Bobois reported resilient annual results with revenue of €414 million, in slight decline of -3.6%. Analysts hold a negative opinion with average consensus recommending underperform or sell.
Top Insights
In H1 2025, revenue of €206.2 million showed slight growth of +0.9%, with gross margin improving by +1.2 points to 61.6% driven by supplier commission renegotiations.
Good control of operating expenses partially offset the impact of lower volumes in sales and the ramp-up of newly directly operated stores with profitability not yet at normative level.
For 2025, the company confirms guidance for stable annual revenue and stable to slightly declining EBITDA, with upcoming store openings in US/Canada (Austin and Las Vegas) and Luxembourg.
Order backlog stood at €133.1 million as of June 30, 2025, compared with €137.5 million a year earlier, indicating softening demand.
Named Competitors
Luxury/Designer Furniture — Italian luxury furniture manufacturer with global presence
High-End Design Furniture — Italian furniture and leather goods for luxury segment
Premium Furniture Retail — French furniture design and retail with contemporary positioning
Recent Developments
(September 2025) H1 2025 revenue up 0.9% to €206.2M with stable EBITDA at €36.7M; free cash flow improved to €25.3M
(March 2025) Opened new store in Herblay, France; announced upcoming openings in Austin and Las Vegas