In the second quarter of 2025, Grendene’s gross revenue increased by 25.1%, as compared to the same period last year, reaching 756.2 million Brazilian reais (119.9 million euros).

The company highlighted that export performance was the primary driver of this growth, rising by 88.0% year-on-year to reach 183.7 million Brazilian reais (29.1 million euros). While there was a 3.2% decrease in the number of pairs exported, there was a 94.2% increase in the average selling price, which now stands at 44.80 Brazilian reais per pair (7,1 euros). This reflects the company’s focus on developing higher-value products.

Meanwhile, domestic gross revenue accounted for the remaining 572.5 million Brazilian reais (90.7 million euros), marking a year-on-year rise of 13.0%. These figures reflect a 2.0% increase in the number of pairs sold and a 10.8% increase in the average selling price.

Overall, the company’s second quarter net revenue amounted to 555.3 million Brazilian reais (88.0 million euros), reflecting a 15.6% rise, on a comparable basis to the same quarter of 2024.

In the second quarter of 2025, Grendene’s EBIT reached 45.3 million Brazilian reais (7.2 million euros), an increase of 103.6% on a comparable basis to the same period of last year. Excluding non-recurring items, recurring EBIT stood at 30.4 million Brazilian reais (4.8 million euros), reflecting a 27.7% year-on-year decline.

The company stated that the results reflect ongoing investments in brand positioning, key sales channels and commercial strategies, which are intended to maintain a long-term presence in the market despite margin pressure.

The Brazilian company reported a net profit of 143.6 million Brazilian reais (22.8 million euros) in the second quarter of the year, up from 41.6 million Brazilian reais (6.6 million euros) in the same quarter of 2024.

First Half Highlights

At the end of June, Grendene reported gross and net revenue of 1.46 billion and 1.12 billion Brazilian reais (231.4 million and 177.5 million euros), respectively. These figures represent increases of 15.4% and 9.8%, respectively, as compared to the first half of the previous year. During the period, the company’s net profit increased by 41.7% year-on-year to 256.9 million Brazilian reais (40.7 million euros).

“Despite a challenging macroeconomic scenario, marked by weaker consumer demand in the domestic market and volatility in the international environment, Grendene demonstrated operational resilience, disciplined management, and a focus on profitability. The results for 2Q25 and 1H25 highlight the Company’s ability to adapt to market conditions, preserve margins, and advance in the execution of its sustainable growth strategy”, reads the company’s statement.

The company is monitoring the impact of the recently enforced 50% tariff on Brazilian products imposed by the US, noting that, although exports to this market account for only a small proportion of revenue, the tariff alters the competitive landscape.

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