🔹 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."