Birkenstock Holding Ltd · Q3 2025 earnings

Briefing

Birkenstock delivers 16% constant-currency revenue growth in fiscal Q3 with margin expansion and FY25 guidance reaffirmed

Birkenstock reported fiscal third quarter 2025 results for the period ended June 30, 2025, with revenue of EUR 635 million, up 12% reported and 16% in constant currency. Gross profit margin improved 100 basis points to 60.5% and adjusted EBITDA margin rose 140 basis points to 34.4%. Net profit increased 73% to EUR 129 million (EPS EUR 0.69) while adjusted EPS reached EUR 0.62. All regions posted double-digit constant-currency growth, B2B rose 18% and DTC 12% in constant currency, and the company repurchased 3.9 million shares for EUR 176 million. Management reaffirmed FY2025 revenue growth at the high end of 15-17% constant currency and adjusted EBITDA margin of 31.3-31.8%.

• Revenue reached EUR 635 million, up 12% reported and 16% in constant currency, with double-digit growth across Americas, EMEA and APAC
• Gross margin expanded to 60.5% and adjusted EBITDA margin to 34.4%, driving net profit up 73% to EUR 129 million
• B2B revenue grew 18% and DTC 12% in constant currency; the company opened 13 new own stores, bringing total to 90
• Share repurchase of EUR 176 million reduced shares outstanding; net leverage was 1.7x at quarter end
• FY2025 guidance reaffirmed: revenue at high end of 15-17% constant-currency growth and adjusted EBITDA margin of 31.3-31.8%

Headline financials

Revenue & EPS history

Reaffirmed FY2025 revenue growth at the high end of 15-17% in constant currency and adjusted EBITDA margin of 31.3-31.8% despite USD headwinds