Danish bakery chain Ole & Steen reported record UK turnover of £40.2m in 2025, up £3.5m year on year, as customer numbers and visit frequency grew.
For the year to 31 December 2025, like-for-like sales rose 10.3% across its estate, while customer like-for-like growth reached 7.1%.
EBITDA remained flat at £4.9m, which the business said was achieved “despite significant inflationary pressure on wages and operating costs”.
Demand for Ole & Steen’s core bakery and coffee offer remained “strong throughout the year”, with growth also supported by continued product innovation across a variety of categories.
This included seasonal launches such as the Cinnamon Social, Apple Crumble Social and the Gingerbread Social. The business also introduced a Cinnamon Social Gelato into stores and grew its Open Rye Sandwiches range throughout the year.
Digital sales grew during the year, supported by continued investment in Ole & Steen’s loyalty app, online ordering and delivery. Loyalty app membership grew by 30%, with strong engagement across Click & Collect, loyalty rewards and exclusive offers. Meanwhile, delivery sales through partner platforms increased by around 75%.
At the end of the year, the business expanded beyond its own stores, launching a range of signature products with Ocado and Waitrose, which are now available in more than 50 stores across southern England.
“2025 was a year of customer growth,” said Ole & Steen UK MD Graham Hollinshead. “More people chose Ole & Steen, and they visited more often, helping us deliver record turnover of more than £40m. That reflects the strength of our bakery, coffee and guest experience, and the fantastic work of our teams.”
“We’ve stayed focused on what we do best – great products, warm hospitality and making it easy for customers to enjoy Ole & Steen wherever they are, whether in our stores, through our app, via delivery or now through Waitrose. Despite significant cost inflation, we maintained a healthy EBITDA while continuing to invest for future growth.”
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