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Birkenstock Hldg
Price
Discussione su BIRK
Messaggi
8Quartalszahlen 11.08-15.08.2025


Birkenstock Q1'25 Earnings Highlights
🔹 Adj EPS: €0.18 (Est. €0.16) 🟢
🔹 Revenue: €361.7M (Est. €356.17M) 🟢; UP +19% YoY
🔹 Gross Profit Margin: 60.3% (Est. 60.21%) 🟡
Segment Breakdown:
🔹 Americas: Revenue UP +16% YoY
🔹 EMEA: Revenue UP +17% YoY
🔹 APAC: Revenue UP +47% YoY
Channel Performance:
🔹 B2B Revenue: UP +30% YoY
🔹 DTC Revenue: UP +11% YoY
Key Metrics:
🔹 Adjusted Net Profit: €33M; UP +99% YoY
🔹 Adjusted EBITDA: €102M; UP +25% YoY
🔹 Adjusted EBITDA Margin: 28.2% (UP 130bps YoY)
🔹 Net Profit: €20M (vs. Net Loss of €7M YoY)
🔹 Cash Flow from Operations: -€12M (Improved by €34M YoY)
🔹 Capital Expenditures: €19M
Operational Highlights:
🔸 Strong holiday demand drove revenue above guidance
🔸 Closed-toe styles (clogs, boots) saw strong growth, gaining 600bps in share
🔸 Opened 4 new owned stores, bringing total to 71
Reaffirmed FY25 Guidance:
🔹 Revenue Growth: 15-17% (Constant Currency)
🔹 Adjusted EBITDA Margin: 30.8%-31.3%
🔹 Gross Margin: Continued improvement toward 60% target
CEO Oliver Reichert's Commentary:
🔸 "Our Q1 results showcase the continued strength of the Birkenstock brand, particularly through the holiday season. Strong demand for our closed-toe styles and strategic expansion, especially in APAC, underscore our growth trajectory. We remain confident in achieving our FY2025 targets."
Analyst updates, 20.12.
⬆️⬆️⬆️
- DEUTSCHE BANK RESEARCH raises the price target for NIKE from USD 82 to USD 84. Buy. $NKE (+0,39%)
- RBC raises the price target for ALPHABET A SHARE from USD 210 to USD 235. Outperform. $GOOGL (+0,18%)
- RBC raises the price target for AMAZON from USD 225 to USD 255. Outperform. $AMZN (-0,55%)
- RBC raises the price target for META from USD 630 to USD 700. Outperform. $META (+0,01%)
- ODDO BHF raises the target price for MUNICH RE from EUR 540 to EUR 555. Outperform. $MUV2 (+0,02%)
- ODDO BHF upgrades HERMES to Neutral. Target price EUR 2315. $RMS (-0,29%)
- ODDO BHF raises the target price for AIRBUS from EUR 168 to EUR 180. Outperform. $AIR (+1,52%)
- ODDO BHF raises the price target for FRAPORT from EUR 58 to EUR 61. Outperform. $FRA (+0%)
- JPMORGAN raises the target price for FEDEX from USD 366 to USD 370. Overweight. $FDX (-1,67%)
⬇️⬇️⬇️
- GOLDMAN lowers the price target for NIKE from USD 97 to USD 91. Buy. $NKE (+0,39%)
- BOFA lowers the price target for NIKE from USD 95 to USD 90. Buy. $NKE (+0,39%)
- ODDO BHF downgrades CARBIOS to Neutral. $ALCRB (-2,53%)
- KEPLER CHEUVREUX lowers the price target for LANXESS from EUR 31 to EUR 30. Buy. $LXS (+3,75%)
- HAUCK AUFHÄUSER IB lowers the target price for DEUTZ from EUR 8.50 to EUR 7. Buy. $DEZ (+0%)
- BARCLAYS lowers the price target for VERTEX from USD 509 to USD 418. Equal-Weight. $VRTX (-0,2%)
- GOLDMAN lowers the price target for BIRKENSTOCK from 59.10 USD to 57.90 USD. Neutral. $BIRK (+2,65%)
- GOLDMAN downgrades TEAMVIEWER from Buy to Neutral and lowers target price from EUR 17 to EUR 12. $TMV (-0,49%)
Birkenstock Q4 FY2024 EarningsReport Summary
$BIRK (+2,65%) In this quarter, Birkenstock achieved strong results fueled by continued demand for its diverse product lines, geographic expansion, and category growth. The company made strategic investments in production capacity and retail presence, supporting growth across all regions.
📊 Income Statement Highlights (vs Q4 FY2023):
▫️Net Income: €52.47M vs (€28.29M) (+285.43%)
▫️Total Revenue: €455.76M vs €374.54M (+21.70%)
▫️Adjusted EPS: €0.29 vs €0.14 (+107.14%)
▫️Gross Profit Margin: 59.00% vs 65.40% (-6.40pp)
(Prior-year gross margin was elevated by non-cash adjustments)
▫️Adjusted EBITDA: €125.00M vs €95.69M (+30.61%)
▫️B2B Revenue Growth: +26% YoY
▫️DTC Revenue Growth: +18% YoY
📄 Balance Sheet Highlights (vs September 30, 2023):
▫️Total Assets: €4.88B (+1.19%)
▫️Cash & Cash Equivalents: €355.84M (+3.31%)
▫️Net Leverage Ratio: 1.8x vs 3.3x
▫️Loans & Borrowings (Non-Current): €1.17B (-35.56%)
🔮 Future Outlook: For FY2025, Birkenstock forecasts:
▫️Revenue growth of 15-17% (constant currency)
▫️Adjusted EBITDA margin expansion to 30.8-31.3%
▫️Improved gross margin nearing 60% due to better utilization of new production facilities
The company remains focused on driving profitability through continued global expansion, especially in the APAC region and closed-toe product lines, while investing in long-term growth opportunities.
The figures for Birkenstock ($BIRK (+2,65%) ) are out, share was held, per Bloomberg, due to volatility.
- Numbers to Sep
2023: Q4 sales
+16% to 374.5 million euros, loss of 28.3 million euros due to plant expansion in Pasewalk. - Full year: Turnover
+20% to 1.49 billion euros,
profit fell from 187 to 75 million euros. - Growth by 6%
increase in sales and 14% increase in the selling price. - Company plans expansion of product range and "development of new markets".

As every Sunday, the most important news of the last week and the dates of the coming week, also as video:
https://youtube.com/shorts/s9icpY6A1oo?si=QsXp6ZlISFxhfKGA
Monday:
Industrial production continued to fall in August. This was announced by the Federal Statistical Office. Compared with the previous month, production fell by 0.2%.
Tuesday:
$KBC2 Kontron receives two major orders from the aviation industry worth EUR 100 million.
The trade balance of Japan shows that Japan continues to achieve an export surplus. The surplus tripled in August to more than $15 billion. One of the main reasons are falling prices for imported goods.
https://www.japantimes.co.jp/business/2023/10/10/economy/japan-current-account-surplus/
$1211 (-0,66%) BYD is on the verge of $TSLA (-1,98%) replacing Tesla as the world's largest e-car manufacturer.
https://teslamag.de/news/byd-keine-marktfuehrer-konkurrenz-tesla-keine-angst-eu-verfahren-61724/amp
$EH Ehang, a stock in our Growth Depot, is requesting a trading halt. The request is probably related to an extraordinary announcement.
https://www.instagram.com/p/CyOFeDrOhkY/?igshid=MWZjMTM2ODFkZg==
Wednesday:
$NOVO B Novo Nordisk is seeing positive results with its antidiabetic in chronic kidney patients. This puts a strain on dialysis speci $FME (+0,27%) Fresenius Medical Care and also $FRE (-0,1%) Fresenius. The study could be terminated due to proven efficacy. Fresenius Medical Care is thus likely to lose further patients; it already lost many during the corona pandemic due to excess mortality.
$BIRK (+2,65%) Birkenstock comes to the stock exchange with a price of EUR 46. The company was made fit for the stock exchange by Bernard Arnault and ends up there with a sporting valuation of USD 8.6 billion.
Producer prices in the USA rise more strongly than expected. They rose by 2.2% compared with the same month a year ago. The expectation was for around 1.6%. Producer prices are a leading indicator for inflation, so this is bad news.
https://www.handelsblatt.com/dpa/usa-erzeugerpreise-steigen-staerker-als-erwartet/29440252.html
Thursday:
The war of Isreal and Hamas now has a concrete impact on an asset class: cryptocurrencies. Apparently, cryptocurrencies in particular have been used to finance terror. Israeli police now froze all crypto accounts used to publicly solicit donations. Most of the accounts were held at Binance. Binance confirms cooperation with Isreal. However, the SEC is also suing Binance, so in the US the events also have possible consequences for the world's largest crypto exchange. $BTC (+0,28%)
Inflation data from the US is not coming in well. The inflation rate remains at 3.7%. A decline was expected.
Friday:
Still virtually no inflation in China. Consumer prices stagnated again, a slight increase was expected. China's foreign trade also continues to shrink. Exports and imports each fell by 6.2% compared to the same period last year. Experts see a slow, temporary recovery of the economy at the end of 2023.
Also $VOW3 (+0,12%) VW also seems to be slowly stabilizing in China. In September, 0.9% fewer vehicles were sold than in the previous month. Worldwide, however, VW delivered 2.3 million vehicles in Q3, which is 7.4% more than in the same period last year. VW is able to make up for the problems in China with significant increases in North America and Europe. This is a healthy development, as it reduces dependence on China. Electric cars already accounted for 7.9% of total sales so far in 2023, or about 530,000 cars. By comparison, Tesla sold only 1.3 million vehicles in the same period.
$EH Ehang gets mega-approval in China. China's civil aviation authority has approved EH216-S. This is an unmanned drone with autopilot. It is the first approval of its kind in the world, making it a real milestone. The approval process went 2 years with countless tests. Shortly, trading in the stock will start again.
Monday: 11:00 Trade Balance (EuroZone)
Tuesday: 11:00 ZEW survey (DE)
Wednesday: 04:00 GDP figures (China)
Thursday: 14:30 Unemployment Claims (USA)
Friday: 08:00 Producer Prices (DE)
Hey,
Do you think it would be useful $BIRK (+2,65%) (Birkenstock) to buy? Is supposed to go on the NYSE tomorrow. I am undecided. Somehow I have the feeling that Birkenstock is overvalued. Especially recently, other IPOs have gone to the exchange which were highly valued and the shares have gone south relatively quickly, for example: $CART .
Would times like to know your opinion on this.

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