A year of customer growth has helped Danish bakery and coffee house chain Ole & Steen achieve record turnover, rising to £40.2m in 2025.
The firm, which has 26 locations across London and the South East, saw sales rise by £3.5m for the year ended 31 December 2025 as customer numbers and visit frequency continued to grow. It noted that like-for-like customer numbers grew by 7.1% over the year.
While sales reached record heights, EBIDTA remained the same as the previous year at £4.9m. However, Ole & Steen said this reflected ‘continued operational discipline’ amidst a backdrop of inflationary pressure on wages and operating costs. It follows a 25% increase in EBIDTA during 2024, the result of a refocused strategy which saw it invest in its shops, staff, and production facility in Leyton.
Growth was also supported by continued product innovation including the brand’s iconic Cinnamon Social, which saw a range of seasonal Social launches such as the Apple Crumble Social and the Gingerbread Social. The business also introduced a Cinnamon Social Gelato into its stores which is served in a croissant. On the savoury side, the business grew its Open Rye Sandwich range.
Online sales across a variety of platforms also offered support, the bakery said, thanks to continued investment in its loyalty app, online ordering, and delivery. Loyalty app membership grew by 30% while delivery sales through partner platforms increased by around 75%.
Furthermore, Ole & Steen partnered with Waitrose to expand its in-store bakery offering with products such as the Cardamom Bun, Maple & Pecan Social Slice, and Cinnamon Social Slice being added to the retailer’s shelves. Originally rolling out in 35 stores and online, the bakery’s products are now available at more than 50 Waitrose locations across southern England.
Ole & Steen UK MD Graham Hollinshead described 2025 as “a year of customer growth”.
“More people chose Ole & Steen, and they visited more often, helping us deliver record turnover of more than £40 million. That reflects the strength of our bakery, coffee and guest experience, and the fantastic work of our teams,” the MD said. “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.”
During 2026, Ole & Steen said it will continue to focus on profitable revenue growth, guest experience, digital engagement and operational efficiency. As part of the wider Group growth plans, which include opening up to 10 new stores across Denmark and the UK during the year, the bakery added that it expects to keep investing in its estate and its central production facility in Leyton.
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