The Brazilian footwear group Alpargatas, parent company of Havaianas, closed the 2025 financial year with record results in the domestic market and a return to profitability in international business.
The group reported a net profit of 567.9 million reals (around 93 million euros) for the full year, an increase of almost 430 percent compared to the previous year. This represents the highest annual result in the company’s history. Sales were 4.6 billion real, around eleven percent higher than the previous year.
Earnings before interest, taxes, depreciation and amortization (EBITDA) in the financial year were 809.2 million Brazilian reals, almost 190 percent higher than in the same period last year. This development was driven by the significant improvement in profitability both in Brazil and internationally.
Strategic decision to invest in Rothy’s
Alpargatas also provided an update on its investment in US sustainable footwear brand Rothy’s. Although Rothy’s reported an 8.1 percent increase in sales to $227.7 million (around 197 million euros) year-on-year, Alpargatas’ board of directors decided in December 2025 against exercising the option to acquire the remaining 51 percent of the company.
Alpargatas remains a relevant shareholder. The group currently holds a 49.2 percent stake in the brand. Rothy’s faced gross margin pressure during the year. The reason for this was US tariffs on products imported from China. Still, the company achieved EBITDA of $17.90 million in 2025.
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