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Mar 31
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Birkenstock Q2 2025 Earnings Report
Birkenstock delivered strong Q2 2025 results with double-digit growth across all regions and channels, beating guidance and raising full-year EBITDA targets.
Key Takeaways
Birkenstock reported Q2 2025 revenue of €574 million and net income of €105 million, driven by robust demand in all regions and segments, with particularly strong performance in APAC and Americas. The company raised its full-year adjusted EBITDA guidance.
Revenue grew 19% year-over-year to €574 million.
Adjusted EBITDA increased to €200 million with margin expansion to 34.8%.
Net income surged 47% year-over-year to €105 million.
Closed-toe shoes outpaced sandals, boosting ASP and contributing to revenue growth.
Birkenstock
Birkenstock
Birkenstock Revenue by Segment
Birkenstock Revenue by Geographic Location
Revenue by Segment
B2B Revenue
CapyFin.comDTC Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAPAC Revenue
CapyFin.com Forward Guidance
Birkenstock raised its FY25 EBITDA guidance, expecting revenue growth at the high end of prior targets due to continued global demand and operational efficiency.
Positive Outlook
- Revenue growth expected at high end of 15–17% guidance.
- Adjusted EBITDA margin guidance raised to 31.3–31.8%.
- Demand strong across all segments and geographies.
- Continued store expansion driving retail presence.
- Healthy balance sheet with strong profitability.
Challenges Ahead
- Operating cash flow down due to timing of tax payments.
- Foreign exchange fluctuations remain a headwind.
- Increased tax liabilities impact net operating cash.
- APAC growth requires continued investment.
- Macroeconomic uncertainty and tariffs could affect consumer behavior.
Revenue & Expenses
Visualization of income flow from segment revenue to net income