Latest news with #BIRKENSTOCK
Yahoo
3 days ago
- Business
- Yahoo
Birkenstock Announces Pricing of Secondary Offering and Concurrent Share Repurchase
LONDON, GB / / May 29, 2025 / Birkenstock Holding plc ("BIRKENSTOCK") announced today the pricing of an underwritten secondary public offering of 17,927,344 of BIRKENSTOCK's ordinary shares (the "Ordinary Shares") to be sold by BK LC Lux MidCo S.à r.l. ("MidCo"), an entity affiliated with L Catterton (the "Selling Shareholder"), at a price to the public of $52.50 per share. In connection with the offering, the Selling Shareholder has granted the underwriters a 30-day option to purchase up to 2,100,000 additional Ordinary Shares. BIRKENSTOCK is not selling any Ordinary Shares in the offering and will not receive any proceeds from the sale of the Ordinary Shares by the Selling Shareholder. The closing of the offering is expected to occur on May 30, 2025, subject to customary closing conditions. Subject to the completion of this offering, BIRKENSTOCK has repurchased, by way of redemption from the underwriters, 3,927,344 Ordinary Shares that are subject to this offering, at a price per share equal to the price paid by the underwriters in the offering, which redeemed Ordinary Shares will be cancelled and no longer outstanding following the completion of the redemption. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint lead book-running managers and BofA Securities as joint bookrunner of, and all three banks as representatives of the underwriters for, the proposed offering. Citigroup, Evercore ISI, Jefferies, Morgan Stanley, UBS Investment Bank, Deutsche Bank Securities, BMO Capital Markets, and BNP PARIBAS are acting as bookrunners for the proposed offering, and Baird, BTIG, Piper Sandler, Stifel, Telsey Advisory Group, William Blair, Williams Trading LLC and Academy Securities are acting as co-managers for the proposed offering. An automatic shelf registration statement on Form F-3ASR (File No. 333-284905) relating to the resale of the Ordinary Shares was previously filed by BIRKENSTOCK with the United States Securities and Exchange Commission (the "SEC") and became effective upon filing on February 13, 2025 (the "Registration Statement"). Before you invest, you should read the prospectus and the documents incorporated by reference in that Registration Statement, as well as the prospectus supplement related to the offering, for more complete information about BIRKENSTOCK and the offering. You may obtain these documents for free by visiting the SEC website at Copies of the preliminary prospectus relating to the proposed offering may also be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, via telephone: (866) 471-2526, or via email: prospectus-ny@ J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or via email: prospectus-eq_fi@ and postsalemanualrequests@ and BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attention: Prospectus Department, via email: The offering is being made only by means of a prospectus supplement and the accompanying prospectus. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release shall also not be considered an offer of securities in any member state (each, a "Member State") of the European Economic Area ("EEA") or in the United Kingdom. This press release does not constitute a "prospectus" within the meaning of Regulation (EU) 2017/1129 (as amended the "Prospectus Regulation") or the Prospectus Regulation as it forms part of the laws of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 (as amended, the "UK Prospectus Regulation"). In the EEA and the United Kingdom, any potential offer of securities would only be made pursuant to an exemption under the Prospectus Regulation or the UK Prospectus Regulation (as applicable) from the requirement to publish a prospectus for offers of securities. This press release is only directed at: (i) in the United Kingdom, persons having professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Order"); (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order; (iii) persons who are outside the United Kingdom; and (iv) any other person to whom it can otherwise be lawfully distributed (all such persons together being referred to as "Relevant Persons"). Any investment or investment activity to which this press release relates is available only to and will be engaged in only with Relevant Persons, and any person who is not a Relevant Person should not rely on it. ABOUT BIRKENSTOCK BIRKENSTOCK is a footwear company with a history dating back to 1774, specializing in products designed for foot support. BIRKENSTOCK manufactures and sells footwear, including sandals and shoes, as well as sleep systems and natural cosmetics. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this press release may constitute "forward-looking" statements and information within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to our current expectations and views of future events, including our current expectations and views with respect to, among other things, the offering of Ordinary Shares. Forward-looking statements include all statements that do not relate to matters of historical fact. In some cases, you can identify these forward-looking statements by the use of words such as "anticipate," "believe," "could," "expect," "should," "plan," "intend," "estimate" and "potential," "aim," "anticipate," "assume," "continue," "could," "expect," "forecast," "guidance," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "seek," "should," "target," "will," "would" or similar words or phrases, or the negatives of those words or phrases. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward- looking statements. Our actual results could differ materially from those expected in our forward-looking statements for many reasons, including the factors described in the sections titled "Cautionary Statement Regarding Forward-Looking Statements" and "Risk Factors" in our Annual Report on Form 20-F filed with the Securities and Exchange Commission on December 18, 2024 as updated by our reports on Form 6-K that update, supplement or supersede such information. Any forward-looking statement made by us in this press release speaks only as of the date of this press release and is expressly qualified in its entirety by the cautionary statements included in this press release. BIRKENSTOCK undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by law. INVESTOR & MEDIA CONTACTBirkenstock Holding plcir@ SOURCE: Birkenstock Holding plc View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
3 days ago
- Business
- Business Insider
Birkenstock offers to sell 15.7M shares of common stock for holders
Birkenstock (BIRK) announced the commencement of an underwritten secondary public offering of 15,691,399 of BIRKENSTOCK's ordinary shares to be sold by BK LC Lux MidCo S.a r.l., an entity affiliated with L Catterton. The Selling Shareholder intends to grant the underwriters a 30-day option to purchase up to 1,800,000 additional Ordinary Shares. BIRKENSTOCK is not selling any Ordinary Shares in the offering and will not receive any proceeds from the sale of the Ordinary Shares being offered by the Selling Shareholder. Subject to the completion of this offering, BIRKENSTOCK has authorized the repurchase, by way of redemption from the underwriters, of up to $200 million of Ordinary Shares, which would be 3,691,399 Ordinary Shares based on the last reported share price on the NYSE on May 27, 2025, of $54.18, that are subject to this offering, at a price per share equal to the price paid by the underwriters in the offering, with such redeemed Ordinary Shares to be cancelled and no longer outstanding following the completion of the redemption. Confident Investing Starts Here:
Hype Malaysia
5 days ago
- Lifestyle
- Hype Malaysia
BIRKENSTOCK Steps It Up With The New Papillio FLORIDA Platform
Celebrating its rich archive, BIRKENSTOCK strides confidently into the spring/summer season, offering a fresh take on the iconic FLORIDA sandal and its timeless three-strap silhouette. Staying true to BIRKENSTOCK's heritage, the FLORIDA blends craftsmanship and function, making it the ultimate summer essential. Drawing on over 250 years of shoemaking expertise, BIRKENSTOCK shines extra light on the FLORIDA, an airy, feminine classic first introduced in 1981 by Karl Birkenstock. A staple in the BIRKENSTOCK archive, the FLORIDA, known for its versatility and distinctive aesthetics, returns in a fresh lineup with playful new executions blending vibrant colours, innovative materials, refined craftsmanship and lasting functionality. This reinvigoration reaffirms BIRKENSTOCK's commitment to fine-strap models, positioning the FLORIDA as a sophisticated, summery alternative to iconic styles like the ARIZONA. With elegantly refined straps, a range of new materials, and fresh summer-ready shades like Pure Sage and Sandcastle, the FLORIDA seamlessly integrates into modern wardrobes. At its core remains BIRKENSTOCK's anatomically shaped footbed, the hallmark of the brand that provides unmatched support for all-day wear. BIRKENSTOCK's premium line, 1774, has reinterpreted the archive classic FLORIDA with unexpected materials over recent seasons, in pastel-coloured suede, embossed leather, faux snakeskin looks, and transparent PVC, showcasing its versatility across luxury and everyday wear. While MADRID, ARIZONA and BOSTON are well-established staples, the FLORIDA now takes centre stage with a sleeker outline and flowing form. Spring/Summer '25 marks the perfect moment to refresh and expand FLORIDA's presence in the BIRKENSTOCK collection. The latest reinterpretation honours FLORIDA's rich history and refined shape while highlighting it as a modern icon. The FLORIDA stands as a key style for BIRKENSTOCK's Spring/Summer '25 collection, its thin-strapped design offering a feminine and contemporary alternative to BIRKENSTOCK's established sandal icons like the ARIZONA. The Papillio FLORIDA Platform, crafted from high-quality, ultra-lightweight EVA, brings a bold, playful, and youthful edge to the lineup. Designed for all-day wear, it features an anatomically shaped footbed for optimal comfort and support. The new platform flex outsole offers improved flexibility and a wider heel section for better stability and balanced weight distribution, while the horizontal grooves at the forefoot enhance the natural rolling motion of the foot. Shock-absorbent, water-resistant, and skin-friendly, the Papillio FLORIDA Platform is perfect for the beach, the garden, or spa settings, yet equally at home in fashion-forward street style. It's offered in a fresh seasonal palette of Surf Green, Crocus, Black, and Eggshell, making it a standout choice for those who seek both comfort and elevated style. Step into a new era of FLORIDA, where timeless craftsmanship meets modern versatility, designed for footbed lovers and new BIRKENSTOCK fans alike. Available at and selected retailers for RM359.
Yahoo
15-05-2025
- Business
- Yahoo
Birkenstock Reports Strong Fiscal Second Quarter 2025 Ahead of Annual Guidance; Raises Fiscal 2025 Adjusted EBITDA Guidance to EUR 660-670 million
LONDON, GB / / May 15, 2025 / Birkenstock Holding plc, (together with its subsidiaries, "BIRKENSTOCK", the "Company" or "we", NYSE: BIRK) today announces financial results for the second quarter ended March 31, 2025. The Company reports second quarter revenue growth of 19%. On a constant currency basis, revenue growth was 18%, ahead of the Company's annual guidance, driven by strong demand for its products across all segments, channels and categories. The Company now sees Fiscal 2025 revenue growth at the high-end of previous guidance (15-17% in constant currency) and is increasing its adjusted EBITDA margin guidance to a range of 31.3-31.8%, 50 basis points above previous guidance. This implies an adjusted EBITDA target in the range of EUR 660-670 million, up 19-21% year-over-year. Financial highlights for the second quarter ended March 31, 2025, (compared to the second quarter ended March 31, 2024): Revenue of EUR 574 million, an increase of 19% on a reported basis and 18% in constant currency Strong double-digit revenue growth across all segments; 23% (20% in constant currency) in the Americas, 12% in EMEA (reported and in constant currency) and 30% in APAC (reported and in constant currency) B2B revenue growth of 19% on a reported basis and 18% in constant currency DTC revenue growth of 19% on a reported basis and 17% in constant currency Gross profit margin of 57.7%, up 140 basis points from 56.3% in the second quarter of 2024 due to sales price adjustments (net of input costs), better absorption of the new manufacturing capacity added in September 2023 and favorable currency translation Net profit of EUR 105 million, up 47% from EUR 72 million; EPS of EUR 0.56, up 47% from EUR 0.38 Adjusted Net profit of EUR 103 million, up 33% from EUR 77 million; Adjusted earnings per share of EUR 0.55, up 34% from EUR 0.41 Adjusted EBITDA of EUR 200 million, up 23% year-over-year; Adjusted EBITDA margin of 34.8%, up 110 basis points from 33.7% a year ago Cash flows used in operating activities was EUR 18 million; operating cash flow was down EUR 68 million year-over-year, primarily due to the timing of tax payments related to prior periods Oliver Reichert, CEO of BIRKENSTOCK and Member of the Board of Directors of the Company: "We are off to a very strong start to Fiscal 2025 and now expect to be at the high end of our revenue growth target of 15-17%. Additionally, we are raising our adjusted EBITDA margin target to 31.3-31.8%, implying EUR 660-670 million in adjusted EBITDA. We expect that the tariff situation may create a unique shift in consumer behavior in the footwear category with a split between the few brands, like BIRKENSTOCK, who manage strong brand equity through relative scarcity and those who distribute their products with less discipline and pricing integrity. We will navigate these uncertain times from a position of strength. Our decades-long track record of managing our brand through a consistent engineered distribution strategy puts BIRKENSTOCK in an enviable position to take additional shelf space and gain share. We are a brand with industry leading growth, pricing power, clean inventories, strong profitability, global reach, a very healthy balance sheet and cash generation." Fiscal second quarter 2025 results demonstrate strong consumer demand for BIRKENSTROCK products BIRKENSTOCK reports fiscal second quarter 2025 revenue of EUR 574 million, up 19% compared to the fiscal second quarter of 2024 on a reported basis and up 18% in constant currency. Revenue growth was supported by double-digit unit growth and mid-single-digit growth in Average Selling Price (ASP). Closed-toe shoes continue to out-pace the strong double digit growth of sandals, contributing to the higher ASP. B2B revenue grew 19% on a reported basis and 18% in constant currency, supported by strong sell-in for the important Spring/Summer season of both sandals and closed-toe silhouettes. As expected, DTC revenue growth accelerated in the quarter, up 19% in reported and 17% in constant currency. Double-digit growth in digital as well as very strong retail performance contributed to the improved DTC trends. The Company opened 6 new owned stores during the fiscal second quarter of 2025, bringing the total number of owned retail stores to 77. Double-digit revenue growth driven by strength in all segments In the Americas segment, BIRKENSTOCK delivered second quarter revenue growth of 23% on a reported basis and 20% in constant currency. Both B2B and DTC grew at a strong double-digit pace. B2B growth was led by youth, sporting goods, outdoor and department stores. During the quarter, the Company opened a new store in Nashville, bringing the total number of own stores in the Americas segment to ten. Revenue in EMEA grew 12% in the second quarter of 2025 in reported and constant currency. DTC growth out-paced B2B during the second quarter, with strong growth in both digital and retail. The Company opened new stores in London and Paris, bringing total stores in the EMEA segment to 37. In the APAC segment, BIRKENSTOCK achieved revenue growth of 30% on a reported and constant currency basis in the second quarter of 2025. The Company continues to invest in this important growth segment and seeks to increase brand awareness by expanding its physical presence. The Company opened three new owned stores, bringing the total in APAC to 30. Additionally, the Company grew the number of mono-brand partner stores by 20%. Investing in production capacity to meet consumer demand BIRKENSTOCK invested approximately EUR 21 million in capital expenditures in the second quarter of 2025, primarily to expand production capacity. BIRKENSTOCK ended the quarter with cash and cash equivalents of EUR 235 million and net leverage of 1.8x as of March 31, 2025, in line with 1.8x at September 30, 2024 due to the normal seasonality in working capital. The Company remains committed to further deleveraging its balance sheet with free cash flow, targeting approximately 1.5x net leverage by the end of Fiscal 2025. Company updates guidance for Fiscal 2025 BIRKENSTOCK is updating its previous guidance for Fiscal 2025 as follows: Revenue growth is expected to be at the high end of 15-17% range in constant currency Adjusted EBITDA margin of 31.3-31.8%, up from 30.8-31.3%, implying an adjusted EBITDA range of EUR 660-670 million for the fiscal year Conference call information BIRKENSTOCK will host a call to discuss fiscal second quarter 2025 results on May 15, 2025, at 8:00 a.m. Eastern Time (1:00 p.m. British Summer Time). A webcast of the call will be accessible on the Company's Investor Relations website at To join the phone line, please dial 1-888-506-0062 (US) or 1-973-528-0011 (International). The access code for the call is 159335. To access the phone line replay after the conclusion of the call, please dial 1-877-481-4010 (US) or 1-919-882-2331 (International). The access code for the replay is 52272. An archive of the webcast will also be available on BIRKENSTOCK's Investor Relations website. ABOUT BIRKENSTOCK Birkenstock Holding plc is the ultimate parent company of Birkenstock Group B.V. & Co. KG and its subsidiaries. BIRKENSTOCK is a global brand which embraces all consumers regardless of geography, gender, age and income and which is committed to a clear purpose - encouraging proper foot health. Deeply rooted in studies of the biomechanics of the human foot and backed by a family tradition of shoemaking that can be traced back to 1774, BIRKENSTOCK is a timeless «super brand» with a brand universe that transcends product categories and ranges from entry-level to luxury price points while addressing the growing need for a conscious and active lifestyle. Function, quality and tradition are the core values of the Zeitgeist brand which features products in the footwear, sleep systems and natural cosmetics categories. BIRKENSTOCK is the inventor of the footbed and has shaped the principle of walking as intended by nature ("Naturgewolltes Gehen"). INVESTOR & MEDIA CONTACT Birkenstock Holding plc ir@ CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this press release may constitute "forward-looking" statements and information within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to our current expectations and views of future events, including our current expectations and views with respect to, among other things, our operations and financial performance. In particular, such forward-looking statements include statements relating to our fiscal 2025 outlook. Forward-looking statements include all statements that do not relate to matters of historical fact. In some cases, you can identify these forward-looking statements by the use of words such as "anticipate," "believe," "could," "expect," "should," "plan," "intend," "estimate" and "potential," "aim," "anticipate," "assume," "continue," "could," "expect," "forecast," "guidance," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "seek," "should," "target," "will," "would" or similar words or phrases, or the negatives of those words or phrases. The forward-looking statements contained in this press release are based on the Company's management's current expectations and are not guarantees of future performance. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward- looking statements. Our actual results could differ materially from those expected in our forward-looking statements for many reasons, including: our dependence on the image and reputation of the BIRKENSTOCK brand; the intense competition we face from both established companies and newer entrants into the market; our ability to execute our DTC growth strategy and risks associated with our e-commerce platforms; our ability to adapt to changes in consumer preferences and attract new customers; harm to our brand and market share due to counterfeit products; our ability to successfully operate and expand retail stores; losses and liabilities arising from leased and owned real estate; risks relating to our non-footwear products; failure to realize expected returns from our investments in our businesses and operations; our ability to adequately manage our acquisitions, investments or other strategic initiatives; our ability to manage our operations at our current size or manage future growth effectively; our dependence on third parties for our sales and distribution channels; risks related to the conversion of wholesale distribution markets to owned and operated markets and risks related to productivity or efficiency initiatives; operational challenges relating to the distribution of our products; deterioration or termination of relationships with major wholesale partners; global or regional health events; seasonality, weather conditions and climate change; adverse events influencing the sustainability of our supply chain or our relationships with major suppliers or increases in raw materials or labor costs; our ability to effectively manage inventory; unforeseen business interruptions and other operational problems at our production facilities; disruptions to our shipping and delivery arrangements; failure to attract and retain key employees and deterioration of relationships with employees, employee representative bodies and stakeholders; risks relating to our intellectual property rights; risks relating to regulations governing the use and processing of personal data; disruption and security breaches affecting information technology systems; natural disasters, public health crises, political crises, civil unrest and other catastrophic events beyond our control; economic conditions impacting consumer spending, such as inflation, tariffs and other trade policy actions, the deterioration of consumer sentiment, and a deterioration of the macroeconomic situation generally, and our ability to react to any of them; currency exchange rate fluctuations; risks related to litigation, compliance and regulatory matters; risks and costs related to corporate responsibility and ESG matters; inadequate insurance coverage, or increased insurance costs; tax- related risks; risks related to our indebtedness; risks related to our status as a foreign private issuer and a "controlled company"; and the factors described in the sections titled "Cautionary Statement Regarding Forward-Looking Statements" and "Risk Factors" in our Annual Report on Form 20-F filed with the Securities and Exchange Commission on January 18, 2024 as updated by our reports on Form 6-K that update, supplement or supersede such information. Any forward-looking statement made by us in this press release speaks only as of the date of this press release and is expressly qualified in its entirety by the cautionary statements included in this press release. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by law. NON-IFRS FINANCIAL INFORMATION AND OTHER METRICS This press release includes "non-IFRS measures" that are financial measures that either exclude or include amounts that are not excluded or included in the most directly comparable measures calculated and presented in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board ("IFRS"). Specifically, we make use of the non-IFRS financial measures Adjusted EBITDA, Adjusted EBITDA Margin, Constant Currency Revenue growth, Adjusted EPS (Basic/Diluted), Adjusted Net profit, Net leverage and Net debt, which are not recognized measures under IFRS and should not be considered as alternatives to net income (loss), as a measure of financial performance or any other performance measure derived in accordance with IFRS. We discuss non-IFRS financial measures in this press release because they are a basis upon which our management assesses our performance, and we believe they reflect underlying trends and are indicators of our business. Additionally, we believe that such non-IFRS financial measures and similar measures are widely used by securities analysts, investors and other interested parties as a means of evaluating a company's performance. Our non-IFRS financial measures may not be comparable to similarly titled measures used by other companies. Our non-IFRS financial measures have limitations as analytical tools, as they do not reflect all the amounts associated with our results of operations as determined in accordance with IFRS. Our non-IFRS financial measures should not be considered in isolation, nor should they be regarded as a substitute for, or superior to, measures calculated and presented in accordance with IFRS. A reconciliation is provided in the tables accompanying this press release for each non-IFRS financial measure in this press release to the most directly comparable financial measure stated in accordance with IFRS. A reconciliation is not provided for any forward-looking non-IFRS financial measures as such a reconciliation is not available without unreasonable efforts. Average selling price ("ASP") is calculated by dividing our total revenue from sales of footwear pairs by the number of footwear pairs sold. Prior to fiscal 2024, ASP was calculated by dividing our total revenue by our total number of units of all products sold. The difference between these two methods is management uses group ASP in managing and monitoring the performance of the believe presenting a directional change in ASP provides useful information to investors as it helps facilitate an enhanced understanding of our operating results and enables them to make more meaningful period-to-period comparisons, particularly because a change in ASP is typically one of several principal drivers of our revenue development between periods. However, in channels and segments, ASP can vary significantly based on various factors and circumstances, and, therefore, management believes that quantifying ASP or the directional change thereof at segment or channel level would provide a level of granularity not considered helpful and potentially misleading. Birkenstock Holding plcConsolidated Statements of Profit(In thousands of Euros, except share and per share information) Three months ended March 31, Six months ended March 31, 2025 2024 2025 2024 Revenue 574,330 481,244 936,049 784,168 Cost of sales (242,756 ) (210,084 ) (386,441 ) (328,140 ) Gross profit 331,574 271,160 549,608 456,028 Selling and distribution expenses (126,501 ) (113,155 ) (244,656 ) (216,639 ) General and administrative expenses (32,447 ) (19,986 ) (56,551 ) (54,377 ) Foreign exchange gain (loss) 2,570 (5,483 ) (9,301 ) (17,138 ) Other income (expense), net 127 (25 ) 253 206 Profit from operations 175,323 132,511 239,353 168,080 Finance cost, net (25,612 ) (27,389 ) (50,390 ) (63,439 ) Profit before tax 149,711 105,122 188,963 104,641 Income tax expense (44,598 ) (33,470 ) (63,731 ) (40,144 ) Net profit 105,113 71,652 125,232 64,497 Earnings per share Basic 0.56 0.38 0.67 0.34 Diluted 0.56 0.38 0.67 0.34 Shares 187,829,202 187,825,592 187,829,202 187,370,399 Birkenstock Holding plcCondensed Consolidated Statements of Financial Position(In thousands of Euros) March 31, September 30, 2025 2024 Assets Non-currentassets Goodwill 1,576,481 1,554,621 Intangible assets (other than goodwill) 1,658,872 1,639,393 Property, plant and equipment 333,608 318,843 Right-of-use assets 176,981 171,334 Deferred tax assets 1,267 117 Other assets 29,113 37,351 Totalnon-currentassets 3,776,322 3,721,659 Current assets Inventories 699,824 624,807 Trade and other receivables 248,659 114,302 Current tax assets 11,488 11,263 Other current assets 53,816 57,065 Cash and cash equivalents 235,399 355,843 Total current assets 1,249,186 1,163,280 Total assets 5,025,508 4,884,939 Shareholders' equity and liabilities Shareholders' equity 2,792,922 2,625,019 Non-currentliabilities Loans and borrowings 1,170,874 1,169,965 Tax receivable agreement liability 338,140 344,590 Lease liabilities 148,298 143,199 Other provisions 5,898 4,867 Deferred tax liabilities 142,062 131,003 Deferred income 13,941 13,737 Other liabilities 4,887 4,666 Totalnon-currentliabilities 1,824,100 1,812,027 Current liabilities Loans and borrowings 29,721 24,670 Tax receivable agreement liability 35,598 15,300 Lease liabilities 41,810 40,874 Trade and other payables 128,632 136,280 Accrued liabilities 29,511 29,411 Other financial liabilities 9,029 3,971 Other provisions 22,105 31,164 Contract liabilities 4,912 7,999 Tax liabilities 85,628 144,730 Other current liabilities 21,540 13,494 Total current liabilities 408,486 447,893 Total liabilities 2,232,586 2,259,920 Total shareholders' equity and liabilities 5,025,508 4,884,939 Birkenstock Holding plcConsolidated Statements of Cash Flows(In thousands of Euros) Three months ended March 31, Six months ended March 31, 2025 2024 2025 2024 Net profit (loss) 105,113 71,651 125,232 64,497 Adjustments to reconcile net profit (loss) to net cash flows from operating activities: Depreciation and amortization 27,312 24,137 53,504 47,384 Loss on disposal of property, plant and equipment 37 (62 ) 54 (62 ) Change in expected credit loss 87 (128 ) 186 (128 ) Finance cost, net 25,612 27,389 50,390 63,439 Net exchange differences (7,756 ) 5,418 8,351 17,138 Non-cash operating items 122 5 243 2,394 Income tax expense 44,598 33,470 63,731 40,144 Income tax paid (63,087 ) (6,312 ) (113,596 ) (10,153 ) MIP personal income tax paid / reimbursement, net - - - (11,426 ) Changes in Working capital: (150,326 ) (105,609 ) (218,028 ) (208,694 ) - Inventories 4,444 1,035 (68,810 ) (65,902 ) - Right to return assets 643 (248 ) 54 (278 ) - Trade and other receivables (173,467 ) (120,122 ) (134,916 ) (109,140 ) - Trade and other payables 12,360 15,958 (4,946 ) 21 - Accrued liabilities 5,827 7,386 (25 ) (7,809 ) - Other current financial liabilities 141 7,035 283 863 - Other current provision (3,044 ) (3,289 ) (9,404 ) (14,982 ) - Contract liabilities (5,900 ) (5,349 ) (3,345 ) 2,874 - Prepayments 3,162 1,688 (831 ) (8,231 ) - Other current financial assets - - - - - Other 5,508 (9,703 ) 3,912 (6,110 ) Net cash flows provided by operating activities (18,288 ) 49,959 (29,933 ) 4,533 Interest received net of taxes withheld 1,270 948 3,161 2,164 Purchases of property, plant and equipment (18,894 ) (16,820 ) (33,541 ) (34,931 ) Purchases of intangible assets (1,953 ) (1,815 ) (6,094 ) (2,303 ) Proceeds from sale of property, plant and equipment 7 78 19 78 Purchase of other assets (1,430 ) - (1,430 ) - Receipt of government grant - - 1,888 8,739 Net cash flows (used in) investing activities (21,000 ) (17,609 ) (35,997 ) (26,253 ) IPO Proceeds, net of transaction costs - (83 ) - 449,214 Repayment of loans and borrowings, net (2,051 ) (764 ) (4,205 ) (525,278 ) Payment of transaction costs related to refinancing - - (250 ) - Interest paid (8,042 ) (15,030 ) (26,294 ) (49,453 ) Payments of lease liabilities (10,603 ) (8,390 ) (20,599 ) (16,656 ) Interest portion of lease liabilities (2,304 ) (2,082 ) (4,636 ) (3,928 ) Net cash flows (used in) financing activities (23,000 ) (26,349 ) (55,984 ) (146,101 ) Net increase (decrease) in cash and cash equivalents (62,288 ) 6,001 (121,914 ) (167,821 ) Cash and cash equivalents at beginning of period 298,594 169,379 355,843 344,408 Net foreign exchange difference (907 ) 348 1,470 (859 ) Cash and cash equivalents at end of period 235,399 175,728 235,399 175,728 Birkenstock Holding plcReconciliation of Revenue to Constant Currency Revenue(In thousands of Euros, unless otherwise stated) Three months ended March 31, Constant Currency Growth [%] 2025 2024 Growth [%] B2B 432,484 362,524 19 % 18 % DTC 140,705 117,773 19 % 17 % Corporate / Other 1,141 947 20 % 21 % Total Revenue 574,330 481,244 19 % 18 % Americas 312,524 254,046 23 % 20 % EMEA 212,845 189,519 12 % 12 % APAC 47,820 36,732 30 % 30 % Corporate / Other 1,141 947 20 % 21 % Total Revenue 574,330 481,244 19 % 18 % Six months ended March 31, Constant Currency Growth [%] 2025 2024 Growth [%] B2B 614,529 502,934 22 % 21 % DTC 319,222 278,428 15 % 13 % Corporate / Other 2,298 2,806 (18 )% (18 )% Total Revenue 936,049 784,168 19 % 18 % Americas 523,224 435,499 20 % 18 % EMEA 315,604 277,047 14 % 13 % APAC 94,923 68,816 38 % 38 % Corporate / Other 2,298 2,806 (18 )% (18 )% Total Revenue 936,049 784,168 19 % 18 % Three months ended March 31, Six months ended March 31, 2025 2024 2025 2024 Total Revenue 574,330 481,244 936,049 784,168 USD impact (8,155 ) 3,364 (9,221 ) 784,168 CAD impact 956 692 1,206 12,104 Other currencies impact (731 ) 276 (1,296 ) (781,288 ) Total Revenue @ constant currencies 566,400 485,576 926,738 799,152 Revenue growth @ constant currencies 18 % 23 % 18 % 24 % Birkenstock Holding plcReconciliation of Net profit to Adjusted Net profit(In thousands of Euros, except share and per share information) Three months ended March 31, Six months ended March 31, 2025 2024 2025 2024 Net profit (loss) 105,113 71,652 125,232 64,497 Add (Less) Adjustments: Share-based compensation expenses (1) - - - 3,591 IPO-related costs (2) - 166 - 7,460 Secondary offering related costs (3) - - - - Realized and unrealized FX gains / losses (4) (2,570 ) 5,483 9,301 17,138 Release of capitalized transaction costs (5) - - - 10,548 Tax adjustment (6) 146 (282 ) 1,422 (9,501 ) Adjusted Net profit(loss) 102,689 77,020 135,955 93,733 - - - - Adj. Earnings per share Basic 0.55 0.41 0.72 0.50 Diluted 0.55 0.41 0.72 0.50 Shares 187,829,202 187,825,592 187,829,202 187,370,399 (1) Represents share-based compensation expenses relating to the management investment plan. (2) Represents IPO-related costs, which include consulting as well as legal fees. (3) Represents costs associated with the secondary offering on behalf of the selling shareholder. The secondary offering was completed on June 28, 2024, with no cost incurred in the three months ended March 31, 2025 and 2024 as well as in the six months ended March 31, 2025 and 2024. (4) Represents the primarily non-cash impact of foreign exchange rates within profit (loss). We do not consider these gains and losses representative of operating performance of the business because they are primarily driven by fluctuations in the USD to Euro foreign exchange rate on intercompany receivables for inventory and intercompany loans. (5) Represents the effect of reversing capitalized transaction costs of the Original USD Term Loan due to its early repayment of USD 450 million in the first quarter ended December 31, 2023 and the subsequent impact on finance costs. (6) Represents income tax effects for the adjustments as outlined above, except for unrealized foreign exchange gain (loss) and share-based compensation expenses since these have not been treated as tax deductible in the initial tax calculation. Birkenstock Holding plcReconciliation of Net profit to EBITDA and Adjusted EBITDA(In thousands of Euros) Three months ended March 31, Six months ended March 31, 2025 2024 2025 2024 Net profit (loss) 105,113 71,652 125,232 64,497 Add: Income tax expense 44,598 33,470 63,731 40,144 Finance cost, net 25,612 27,389 50,390 63,439 Depreciation and amortization 27,312 24,137 53,504 47,384 EBITDA 202,635 156,648 292,857 215,464 Add Adjustments: Share-based compensation expenses (1) - - - 3,591 IPO-related costs (2) - 166 - 7,460 Secondary offering related costs (3) - - - - Realized and unrealized FX gains / losses (4) (2,570 ) 5,483 9,301 17,138 Adjusted EBITDA 200,065 162,297 302,158 243,653 (1) Represents share-based compensation expenses relating to the management investment plan. (2) Represents IPO-related costs, which include consulting as well as legal fees. (3) Represents costs associated with the secondary offering on behalf of the selling shareholder. The secondary offering was completed on June 28, 2024, with no cost incurred in the three months ended March 31, 2025 and 2024 as well as in the six months ended March 31, 2025 and 2024. (4) Represents the primarily non-cash impact of foreign exchange rates within profit (loss). We do not consider these gains and losses representative of operating performance of the business because they are primarily driven by fluctuations in the USD to Euro foreign exchange rate on intercompany receivables for inventory and intercompany loans. Birkenstock Holding plcReconciliation of Net debt and Net leverage(In thousands of Euros, unless otherwise stated) March 31, September 30, 2025 2024 Loans and borrowings (Non-current) 1,170,874 1,169,965 + USD Term Loan (Current) 7,964 7,890 + Lease liabilities (Non-current) 148,298 143,199 + Lease liabilities (Current) 41,810 40,874 - Cash and cash equivalents (235,399 ) (355,843 ) Net debt 1,133,547 1,006,085 Adjusted EBITDA (LTM) 613,461 554,955 Net leverage 1.8 x 1.8 x SOURCE: Birkenstock Holding plc View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hype Malaysia
24-04-2025
- Lifestyle
- Hype Malaysia
BIRKENSTOCK 1774 Drops The Very Cosy Arizona CosNy & We're Vibing
A sandal so cool, it's a scandal! BIRKENSTOCK 1774 deepens its tradition of reinvented classics with the Arizona CosNy in Nylon – a monochromatic variation of the iconic silhouette reimagined by BIRKENSTOCK's Paris-based creative studio in charge of the seasonal 1774 collections and brand collaborations. Centring focus on a single shape, the collection highlights functionality with an insightful twist brought to life through the use of durable and versatile nylon. Honouring the familiarity of Arizona through amplified proportions, the Arizona CosNy embodies a refined versatility at the brand's core. The sophisticated craftsmanship of the Arizona CosNy in Nylon highlights 1774's ingenuity. Originally debuted by Karl Birkenstock in 1973, Arizona was the 3rd model to be introduced and has become a cultural pillar of ease and practicality ever since. Enhanced with attentively-sourced Italian nylon, the Arizona CosNy collection emulates time-honoured craftsmanship and avant-garde technology. This specially-engineered material ensures adaptability and introduces a new level of sophistication to the signature design. Smoothly wrapping around the foot, the nylon straps are wadded and lined with microfibre for an ultra-soft wear. Featuring a hook and loop closure, this style offers a more personalised fit, easily adjusting to fit both wide and narrow sizes. The Arizona CosNy is available in a kaleidoscope of pop colours and crafted with the house's signature anatomically-shaped footbed that is fully covered in matching premium nappa leather. 1774 celebrates the BIRKENSTOCK archive through the transformation of its most legendary silhouettes. Elevated design combines with cutting-edge technique in tribute to its storied heritage, and all materials are specially-sourced and assembled in the German workshop. The collection launched on 17th April on and select global retailers. Hit up BIRKENSTOCK's official website for more details.
