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What is the revenue and EPS growth rate for Birkenstock Holding year over year?

What is Birkenstock Holding's latest dividend and current dividend yield?

What is the market's earnings forecast for Birkenstock Holding next quarter?

What factors drove the changes in Birkenstock Holding's revenue and profit?

What were the key takeaways from Birkenstock Holding’s earnings call?

What guidance did Birkenstock Holding's management provide for the next earnings period?

What were the key takeaways from Birkenstock Holding's earnings call?

- **Revenue Beat Guidance**: Q1 18% constant-currency growth vs. 13-15% annual target, driven by B2B (24% growth) and APAC (37% expansion). 
- **Margin Resilience**: 90%+ full-price sell-through, 30%+ EBITDA margin target despite 350bps FX headwind. 
- **Growth Drivers**: APAC revenue doubling by 2028, 40 new stores FY26, EUR 200M share buyback. 
- **Risks**: Tariffs adding 100-150bps margin pressure, Q2 700bps FX headwind. 


**【CEO Summary Section】**
- **Revenue Growth and Market Expansion**: Q1 2026 revenue of EUR 402 million, up 18% in constant currency, driven by strong B2B demand (24% growth) and APAC expansion (37% growth). 
- **Geographic Focus**: Americas penetration at ~5%, EMEA high margins, APAC targeting double the 2025 revenue by 2028. 
- **Product Momentum**: Closed-toe styles (60% Q1 revenue) led by Boston clog (50th anniversary), with 90%+ full-price sell-through across channels. 
- **DTC Strategy**: 106 stores (9 new Q1), e-commerce 80% of DTC, membership program up 20% YoY. 

**【CFO Financial Commentary】**
- **Q1 Financials**: Adjusted EBITDA EUR 106 million (+4% YoY), margin 26.5% (30.1% ex FX/tariffs). 
- **Challenges**: 670bps FX headwind in Q1, 700bps expected in Q2, 350bps full-year FX impact. 
- **Guidance**: 13-15% FY26 constant-currency growth, 57-57.5% gross margin, EUR 700M+ EBITDA. 
- **Cash Flow**: EUR 229M cash, 40 new stores planned FY26, EUR 200M share buyback. 

**【Q&A Key Highlights】**
- **Demand Resilience**: 90%+ full-price sell-through, 20-30% unfulfilled B2B demand, 50%+ own retail growth Q1. 
- **FX and Tariffs**: 350bps FY26 FX headwind, 200bps margin impact from tariffs. 
- **Store Metrics**: CapEx EUR 400-800K/store, 12-18mo payback period, same-store sales growth high single-digits. 
- **Share Repurchase**: Stock undervalued, buyback subject to market conditions. 


Birkenstock Holding plc (BIRK) Q1 2026 Earnings Call Transcript

- **Record 2025 Performance**: EUR 2.1 billion revenue (+18% Cx), 31.8% EBITDA margin. Closed-toe styles drive 5% ASP growth, APAC doubles as share of revenue.
- **2026 Growth Constraints**: 13-15% Cx growth target due to production capacity, 200bps margin headwinds from FX/tariffs.
- **Strategic Investments**: 40 new stores, EUR 110-130M capex for production, EUR 200M share buybacks. Cork/latex expansion in Germany/Portugal.
- **Key Trends**: B2B outpaces D2C, Gen Z driving wholesale growth, closed-toe share of revenue doubles to 38%.

**【CEO Summary Section】**
- Fiscal 2025 revenue reached EUR 2.1 billion, up 18% in constant currency, exceeding the 15-17% guidance range. Adjusted EBITDA margin improved to 31.8%, up 100 basis points year-over-year. 
- Closed-toe products drove ASP growth (+5%), with 38% of revenue from closed-toe styles (vs. 33% prior year). APAC segment grew 34% in constant currency, now 11% of total revenue.
- 2026 guidance: 13-15% constant currency revenue growth, constrained by production capacity and U.S. tariffs. Unit growth target of ~10% per year.
- 40 new retail stores planned for 2026, targeting 150 stores by 2027. Cork/latex footbed production expansion in Germany and Portugal.

**【CFO Financial Commentary】**
- Q4 2025 revenue: EUR 526 million (+20% constant currency). Full year gross margin 59.1%, up 30bps. Adjusted EBITDA margin 31.8%, up 100bps.
- 2026 FX headwinds: ~300-350bps revenue drag, 100bps margin impact. Tariffs add another 100bps margin pressure. Excluding FX/tariffs, EBITDA margin target 32-32.5%.
- 2026 capex EUR 110-130 million for production capacity. Share buybacks of EUR 200 million planned, subject to market conditions.
- 2026 EPS guidance: EUR 1.90-2.05, including EUR 0.15-0.20 FX impact.

**【Q&A Highlights】**
- **Demand & Capacity**: Holiday Q1 2026 B2B growth >30% in U.S., full price realization >90%. Clog production requires 2x sandal minutes, limiting capacity. 2026 unit growth constrained to mid-teens due to production bottlenecks.
- **Channel Mix**: B2B growth (21% FY25) outpaces D2C (12%), driven by Gen Z in-person shopping. 62% of revenue from B2B (vs. 60% prior year).
- **Margin Management**: 90% of FX impact flows through gross profit. Tariffs require surgical price increases, not brand-dilutive across-the-board hikes.
- **APAC Strategy**: Highest ASP region, doubling growth rate of other segments. Expanding distribution while maintaining scarcity.
- **Investor Day**: Capital Markets Day in January to detail 3-year growth plan, including production capacity, innovation, and APAC expansion.

Birkenstock Holding plc (BIRK) Q4 2025 Earnings Call Transcript

- **Revenue Growth**: 16% YoY in constant currency, with B2B outpacing DTC due to in-person shopping trends.
- **Profit Margins**: Gross margin at 60.5%, EBITDA margin at 34.4%, both records for Q3, despite FX headwinds.
- **Closed-Toe Momentum**: 400 basis points of revenue growth from closed-toe styles, driven by youth and expansionary categories.
- **Factory Expansion**: Production capacity investments to meet demand, with Pasewalk facility nearing full utilization.
- **Tariff Mitigation**: Price increases and supply chain efficiency offset €150-200 million tariff impact, with no consumer pushback.
- **Q4 Outlook**: Accelerated DTC growth in Q4, but FX to drag reported revenue by 400 basis points and margins by 100 basis points.

**【CEO Summary Section】**
- **Revenue Growth**: 16% year-over-year in constant currency, driven by double-digit growth in all segments and channels.
- **Profitability Improvements**: Gross margin increased by 100 basis points to 60.5%, while EBITDA margin rose 140 basis points to 34.4%, the highest in Q3 history.
- **B2B Dominance**: 90% of B2B growth came from existing partners, with retail revenue at top 10 wholesale partners up 25% in the U.S. and 20% in EMEA.
- **Store Expansion**: 13 new stores opened, with plans to reach 100 stores by year-end, capturing in-person shopping demand.
- **Product Momentum**: Closed-toe styles contributed 400 basis points to revenue growth, with strong performance across all demographics.

**【CFO Financial Commentary】**
- **Revenue and Margins**: Reported revenue growth of 12% (16% in constant currency), with FX causing a 330 basis point drag. Gross margin was 60.5% (60.5% vs. 59.5% YoY), and EBITDA margin was 34.4% (34.4% vs. 33.0% YoY).
- **Cost Efficiency**: Selling expenses declined 80 basis points due to higher B2B share, while IT costs increased 40 basis points.
- **Cash Flow and Leverage**: Operating cash flow of €261 million, ending with €262 million in cash after €176 million share buybacks. Net leverage at 1.7x, targeting 1.5x by year-end.
- **Tariff Management**: Offset €150-200 million impact through price increases, vendor negotiations, and production efficiency.

**【Q&A Highlights】**
- **Demand Trends**: Back-to-school sell-through exceeded Q3 levels, with no pushback on July price increases. Closed-toe styles outperformed open-toe, with non-Boston silhouettes growing alongside Boston.
- **B2B vs DTC**: B2B growth outpaced DTC in Q3 and expected for FY25, driven by in-person shopping trends. DTC acceleration in Q4 will come from store openings and digital expansion.
- **Factory Expansion**: Pasewalk facility nearing full absorption, with plans to double production capacity over five years.
- **FX Impact**: Q4 reported revenue growth expected to lag constant currency by 400 basis points, with margins down 100 basis points.


Birkenstock Holding plc (BIRK) Q3 2025 Earnings Call Transcript

- **Revenue Superformance**: €574M Q2 revenue (+19% YoY) driven by double-digit volume and ASP growth across all regions.
- **Closed-Toe Dominance**: Closed-toe shoes grew 2x overall rate, with 400bps share gain. China revenue more than doubled YoY.
- **Gross Margin Boost**: 57.7% gross margin (up 140bps YoY), with 75bps improvement guided for FY25.
- **Tariff Resilience**: 90%+ full price realization; €0.05/EUR exchange rate impact modeled at €37M revenue and €26M EBITDA.
- **Expansion Ambition**: 100 owned stores by FY25 end, 150 by FY27. APAC targeting 30%+ growth with closed-toe focus.

**【CEO Summary Section】**
- Q2 2025 revenue reached €574 million, up 19% YoY (18% in constant currency), exceeding the high end of the 15-17% annual guidance.
- **Market Performance**: 
  - Americas: 23% reported growth (20% constant currency), driven by B2B and DTC expansion.
  - EMEA: 12% growth, with DTC outpacing B2B by 1.5x.
  - APAC: 30% growth, led by DTC and B2B partnerships.
- **Product Highlights**: Closed-toe shoes grew twice the rate of overall group, contributing 400bps to share of business. China revenue more than doubled YoY.
- **Expansion Plans**: 100 owned stores by end of FY25 (currently 77), targeting 150 by FY27. APAC focus on closed-toe and premium leather executions.

**【CFO Financial Commentary】**
- **Gross Margin**: 57.7% (up 140bps YoY), driven by Pasewalk factory absorption (50bps) and price adjustments.
- **Adjusted EBITDA**: €200 million (23% YoY), margin 34.8% (up 110bps YoY). Guidance raised to 31.3-31.8% margin, targeting €660-670 million EBITDA.
- **Cash Flow**: €235 million cash on hand, €21 million Q2 CapEx for production and retail.
- **Tariff Mitigation**: 90%+ full price realization, €0.05/EUR exchange rate impact of €37M revenue and €26M EBITDA.

**【Q&A Key Takeaways】**
- **Tariff Strategy**: Full offset via global pricing (low single-digit increase) and supply chain efficiencies. No demand pull-forward observed.
- **Gross Margin Outlook**: 75bps improvement in FY25, 75bps in FY26 from Pasewalk absorption.
- **Membership Growth**: 10 million+ loyal members (25% YoY), 20% higher AOV for members.
- **APAC Expansion**: 30% growth, focusing on closed-toe and premium products. China entry in Greater China to accelerate.
- **Inventory Management**: 36% inventory-to-sales ratio (down from 40%), DSO 46 days (stable YoY).

Birkenstock Holding plc (BIRK) Q2 2025 Earnings Call Transcript

- **Revenue Beat**: Q1 €362M (+19% YoY), APAC +47%, closed-toe share +600bps
- **Profit Growth**: EBITDA +25% YoY, net profit +99% YoY
- **DTC Loyalty**: 8.8M members (30% YoY), 50% DTC sales from members
- **Guidance Reaffirm**: 15-17% FY25 growth, EBITDA margin +50bps
- **Risks**: Macro uncertainty, inflation, tariff exposure

**【CEO Opening Remarks】**
- Q1 2025 revenue reached €362 million, up 19% YoY, exceeding the high end of the 15-17% annual guidance. Closed-toe products drove 600bps share growth, accounting for over 50% of revenue. APAC grew 47%, 2.5x the group rate, with China contributing 30% of regional sales. DTC membership hit 8.8 million (+30% YoY), with 50% of DTC sales from loyal members.

**【CFO Financial Highlights】**
- Gross margin 60.3%, down 70bps YoY due to higher B2B mix. EBITDA €102 million (+25% YoY), margin 28.2% (+130bps YoY). Adjusted net profit €33 million (+99% YoY). Cash flow improved €34 million YoY to €12 million used. Inventory-to-sales ratio improved to 39%.

**【CFO Outlook】**
- Reaffirms 15-17% revenue growth. Gross margin to improve YoY as production utilization rises. EBITDA margin target 30.8-31.3%, up to +50bps YoY. CapEx €80 million, net leverage to 1.5x by year-end.

**【Q&A Key Takeaways】**
- **B2B Strength**: 30% B2B growth driven by 40% sell-through, 10% inventory growth. DTC to balance growth in H2. 
- **APAC Momentum**: 47% growth from accelerated store openings; China expansion continues with Chengdu store opening.
- **Gross Margin**: Q2 gross margin pressure from B2B mix, but full-year improvement expected from factory utilization.
- **Tariffs & Macro**: Monitor inflation (US 3%, Eurozone 2.5%) and potential tariffs, but no immediate pricing actions planned.
- **Product Mix**: Closed-toe ASPs 2x higher than sandals; boots sold at €200 price point with strong consumer adoption.

Birkenstock Holding plc (BIRK) Q1 2025 Earnings Call Transcript

Birkenstock Holding (BIRK)-18 Dec 24-2024 Q4 Earnings call transcript

Birkenstock Holding (BIRK)-29 Aug 24-2024 Q3 Earnings call transcript

Birkenstock Holding (BIRK)-30 May 24-2024 Q2 Earnings call transcript

Birkenstock Holding (BIRK)-29 Feb 24-2024 Q1 Earnings call transcript

- **Revenue Growth**: Fiscal 2023 up 20% to €1.49B, Q4 +22%, driven by 14% ASP increase and DTC expansion to 40%.
- **Profitability**: 62.1% gross margin, 32.4% EBITDA margin. 2024 guided for €1.74-1.76B revenue (+17-18%) and 30% EBITDA margin.
- **Factory Expansion**: €150M capex for capacity doubling, offsetting 240bps margin headwinds from inflation/ramp-up.
- **Regional Strength**: Americas DTC ASP 3x B2B, Europe B2B cleanup driving 15% growth, APMA DTC doubling via e-commerce.
- **250th Anniversary Momentum**: Purpose-driven demand resilient to macro, 90% buyers via unpaid channels.

**【CEO Summary Section】**
- **Record Fiscal 2023 Performance**: Revenue grew 20% to €1.49 billion, driven by 6% unit growth and 14% ASP increase. Q4 alone saw 22% growth.
- **ASP Growth Drivers**: 50% from premium product steering, 25% from DTC channel mix shift, and 25% from RSP increases.
- **Geographic Strength**: All regions (Americas +20%, Europe +18%, APMA +27%) and channels (B2B +16%, DTC +26%) delivered double-digit growth.
- **Margin Resilience**: Gross margin 62.1% (up 180bps vs 2022), adjusted EBITDA margin 32.4%.
- **250th Anniversary Momentum**: Brand loyalty and purpose-driven demand sustain growth despite macro challenges.

**【Regional Performance】**
- **Americas**: DTC penetration expanded to 40%, closed-toe shoes drove 3x higher ASP in DTC vs B2B. Q4 B2B grew 73% via 'land grabs' in running specialty shops.
- **Europe**: B2B cleanup reduced distributor count by 50%, DTC grew 24% with record summer sales. France/Scandinavia owned markets outperformed.
- **APMA**: DTC doubled via webshop expansion (China +60%, India +70%, Japan +50%). B2B grew 12% via mono-branded stores.

**【CFO Financial Commentary】**
- **Fiscal 2023 Results**: 
  - Revenue: €1.49B (+20%)
  - Gross Profit: 62.1% margin
  - Adjusted EBITDA: €483M (+11%)
  - Pro forma EPS: €1.10 (+19%)
- **2024 Guidance**: 
  - Revenue: €1.74-1.76B (+17-18%)
  - Adjusted EBITDA: €520-530M (30% margin)
  - CapEx: €150M for factory expansion
- **Margin Headwinds**: 120bps from Pasewalk factory ramp-up, 120bps from inflation

**【Q&A Highlights】**
- **Inventory Health**: 75% of finished goods allocated to customers, 70% timeless products. Q4 inventory/revenue ratio 30% vs 36% prior year.
- **Factory Progress**: Pasewalk expansion on track for 2024 benefits, Goerlitz/Portugal upgrades to double capacity.
- **ASP Sustainability**: 25% price increases in Europe with no demand impact. U.S. consumers buying higher ASP closed-toe shoes at 3x DTC rate.
- **APMA Growth**: China, India, Japan white space potential. Tiffany Wu appointment to accelerate Greater China expansion.
- **2024 Unit Growth**: 17-18% guided despite 22% Q4 growth, reflecting conservative approach to capacity constraints.

Actual	0.1374	0.0993	0.4424	0.5248	0.3229	0.1863	0.595	0.7304	0.5985	0.3169
Forecast	0.147	0.0956	0.3829	0.552	0.2879	0.163	0.5815	0.7034	0.4234	0.3082
Surprise	-6.53%	+3.87%	+15.54%	-4.93%	+12.16%	+14.29%	+2.32%	+3.84%	+41.36%	+2.82%

Actual	395.93M	334.35M	519.26M	604.92M	507.71M	374.46M	621.34M	748.07M	617.63M	471.64M
Forecast	375.72M	318.15M	502.96M	606.41M	488.65M	368.85M	613.79M	749.79M	613.14M	471.89M
Surprise	+5.38%	+5.09%	+3.24%	-0.25%	+3.90%	+1.52%	+1.23%	-0.23%	+0.73%	-0.05%

BIRK

BIRK fundamentals

BIRK Q1 2026 Earnings

Earnings Call

You can ask Aime

BIRK

BIRK fundamentals

BIRK Q1 2026 Earnings

Earnings Call

BIRK Earnings Call Summary for Q1/20268:00 AM on Feb 12, 2026

BIRK Earnings Call Summary for Q4/20258:00 AM on Dec 18, 2025

BIRK Earnings Call Summary for Q3/20258:00 AM on Aug 14, 2025

BIRK Earnings Call Summary for Q2/20258:00 AM on May 15, 2025

BIRK Earnings Call Summary for Q1/20258:00 AM on Feb 20, 2025

You can ask Aime