Alpargatas, the parent company of the Havaiana brand, has announced its financial results for the second quarter of 2025. The group’s consolidated net turnover rose eight percent to 1.1 billion reais compared to the previous year. The gross profit improved to 603 million reais, the adjusted EBITDA reached 193 million Reais, and net profit skipped to 87 million reais.
These results reflect a phase of strategic transition and profit growth. The entire volume sold was 49 million pairs – a decline of six percent compared to the previous year. However, this decline was expected and the result of an early sales strategy in the first quarter.
Havaiana’s Brazil lists six percent sales growth
The total volume of Havaianas fell by five percent on the Brazilian market. However, net sales increased by six percent. The company described this as a healthy adaptation in order to reconcile the offer with consumer demand. As a result, Havaianas returned market shares and reached 77 percent in the food channel by the end of June. The gross margin for the Brazil business rose by seven percentage points to 46 percent. The EBITDA margin reached 20 percent, an increase of nine percentage points.
The international segment of Havaianas also showed significant progress. In Europe, the company recorded volume growth of six percent and an increase in net sales by 18 percent. This was the first quarter of the high season with growth compared to the previous year since 2022. In the United States, the sales volume rose by 30 percent. The net turnover increased by 42 percent. This development was carried out in parallel to the preparation of a new business model, which is intended to use the logistics and commercial reach of a partner in order to improve profitability and reduce costs.
In contrast, the volume fell by 31 percent in markets guided by distributors such as the Middle East and the Asian-Pacific area. The company prioritized the margin quality and a more standardized market launch model. Overall, the gross margin of international activities reached 70 percent. The EBITDA margin rose to 14 percent-an increase of 16 percentage points compared to the previous year.
Alpargatas also gave an update to his Rothy brand and reported consistent results and sequential advances. New product launches contributed to seven percent sales growth. The gross margin remained stable at 61 percent. The brand’s EBITDA significantly improved and reached 21 million US dollars (around 19 million euros) over a month of twelve. The company is aware of the developments in connection with US customs policy and is in dialogue with shareholders to ensure Rothy’s resilience and profitability in the medium and long-term.
Alpargatas suggests capital reduction
In a separate market announcement, the board of Alpargatas approved a proposal to reduce capital by 850 million reais. The proposal that requires the approval of the shareholders at an extraordinary general meeting provides for the repayment of funds to shareholders in local currency – without cancellation of shares.
The company said that this measure aims to “improve the company’s capital structure” and “to promote a more balanced mix of the sources of financing” in order to support its business plan and its “value creation for shareholders”. This step reflers the “increasing trust of the company into the continuous recovery of its cash generation and earnings” as well as its improved financial discipline.
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