Esotiq & Henderson Group, a leading lingerie market player in Poland, generated PLN 142.5 million in consolidated sales revenue in H1 2025 (+5.1% y/y). Gross profit on sales reached PLN 98.8 million, with the gross margin maintained at 69.3%. The Group delivered EBITDA of PLN 14.0 million and net profit of PLN 3.2 million. The Company recorded double-digit growth in online sales while simultaneously expanding its network of brick-and-mortar stores. During this period, Esotiq & Henderson also strengthened cooperation with InPost, reinforced its managerial structures, and consistently accelerated international expansion.

As at 30 June 2025, the Group’s products were sold in 289 stores with a total retail area of 18,337 m², including 268 stores in Poland and 21 abroad. Sales in H1 2025 amounted to: own stores – PLN 31.5 million, partner stores – PLN 47.3 million, online – PLN 41.5 million, and other channels – PLN 20.8 million. Sales development was focused on three main channels: B2B, where the Company built relationships with distributors and purchasing groups in Poland and across Europe; BTC and e-commerce, where it expanded cooperation with major platforms under the 1P model; as well as the department store channel, reinforcing its presence in the premium offline segment.

Spring and summer collections were well received in H1 2025, contributing to stable and profitable growth in the stationary retail network and solid performance in e-commerce. At the same time, new product lines, prepared for many months, were introduced to the offer: Esotiq Bloovii, which debuted with a small AW24 collection and from SS25 became a visible part of the assortment, and Esotiq Shape – shaping lingerie responding to growing customer demand for functionality. In September, the portfolio was further expanded with the Esotiq Sensual collection – a line of erotic lingerie, opening access to a new, high-growth-potential category. These product innovations further strengthened the perception of Esotiq as a leader in the premium segment while boosting customer interest in core categories.

“The first half of 2025 demonstrates that we can sustain a high gross margin on sales at 69.3% and scale up operations despite cost pressures and a decline in EBITDA. The strategic partnership with InPost, thanks to which over 80% of orders are processed from the central warehouse in less than 24 hours, has significantly raised our service standards and reinforced our omnichannel model. We also see that restructuring measures and internal organizational changes are starting to deliver tangible results,” said Mariusz Jawoszek, President of the Management Board of Esotiq & Henderson S.A.

Consolidated sales revenues for the eight months of 2025 reached approximately PLN 209.3 million, up 9% compared to the same period last year. On a cumulative basis, consolidated gross margin on sales for January–August 2025 was around 67%, estimated to be 1 pp lower than in the corresponding period last year.

“The increase in selling and administrative expenses requires us to consistently focus on efficiency-enhancing initiatives and maintaining cost discipline. Taking into account strong summer results and the fact that the fourth quarter is traditionally the strongest of the year, I expect 2025 to be a very successful year for Esotiq Group,” added President Jawoszek.

Sharing its success with shareholders, the General Meeting of Esotiq & Henderson resolved to pay a dividend of PLN 3.00 per share. The dividend payment will be executed on 28 October 2025.

“Dividend distribution is an important element of Esotiq & Henderson’s policy. We want to share our profit with shareholders, which is why once again this year the Company will pay PLN 3.00 per share,” said Mariusz Jawoszek.

Esotiq & Henderson continues to strengthen its media presence and brand recognition through ambassador partnerships. Campaigns feature personalities such as Marcelina Zawadzka, Joanna Krupa, Ewa Minge, Ewa Chodakowska and Agata Sieramska, with Julia Wieniawa joining as a brand ambassador in Q3 2025. Her involvement significantly boosted reach – the announcement post alone generated an impressive 2.7 million views. At the same time, the Esotiq Club community is expanding dynamically, now comprising around 1.51 million registered members.

In September, the Company opened a new concept store in Warsaw’s Arkadia – one of the largest and most prestigious shopping centers in Poland. This represents a completely new face of the brand – elegant, modern, and refined in every detail. The unique design highlights the premium quality of Esotiq lingerie, enhances customer experience, and strengthens the brand’s modern and upscale image.

Planned directions for international sales growth are focused on the CEE region. The Company is preparing to enter the Romanian market through sales on the leading marketplace eMAG, enabling access to a broad base of local customers. At the same time, Esotiq & Henderson is expanding its presence on key e-commerce platforms, including Fashion Days and Trendyol, scheduled to launch in Romania in Q3 2025. The Company is also developing sales within the Zalando Partner Program.

The Group’s strategic objective for 2025 is to further improve the quality, consistency, and efficiency of its partner network while strengthening brand positioning across B2B, BTC, and Retail channels – both online and offline.