Ole and Steen turnover rises 5% to £36.7m
The company’s investment in its London production facility in Leyton has also delivered tangible benefits in consistent product quality and cost efficiency
Danish bakery Ole and Steen has revealed that its turnover rose 5% to £36.7m for the year ended 31 December 2024, up from £34.8m in the same period the previous year.
Alongside this, the company saw its EBITDA rise 25% from £3.93m up to £4.89m during the same period. The company put this down to continued investment and operation discipline.
The company’s performance was bolstered by a strong finish to the year, with Q4 delivering 17% like-for-like sales growth.
Ole and Steen also stated that this momentum has carried into 2025 and reflected sustained momentum across all 26 London stores, driven by organic sales improvements, enhanced digital capability and product innovation.
The company’s investment in its London production facility in Leyton has also delivered tangible benefits in consistent product quality and cost efficiency.
Graham Hollinshead, Ole and Steen UK managing director, said: “The foundation for our success was the Group Refocused Strategy launched in April 2024. This strategy has reaffirmed our identity as The Danish Bakery and Coffee House in London.
“We’ve invested heavily in our stores, teams, service standards, and digital capability. From extended opening hours to seasonal product development, we’re meeting our customers where they are – in-store, online, and on special occasions like New Year, Halloween, and Valentine’s Day.”
He added: “As we moved into autumn, we recorded some of our best trading weeks ever. October saw the launch of our highly successful “Treat of the Week” campaign, showcasing a different signature Danish pastry each week at a special price point. The response has been outstanding, and we’ll continue the offer throughout 2025.
“Customer convenience is core to our brand experience. In 2024, we expanded to three major delivery platforms and introduced a new web-based ordering portal to better serve offices and B2B clients. Meanwhile, our loyalty app membership grew by over 40%, with strong engagement across features like click and collect, loyalty rewards, and exclusive offers.”
