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Jun 30, 2025
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Birkenstock Q3 2025 Earnings Report
Birkenstock reported strong revenue and profitability growth in Q3 2025.
Key Takeaways
Birkenstock delivered a solid third quarter with 16% revenue growth in constant currency, improved margins, and robust demand across all regions. Net income rose significantly year-over-year.
Revenue grew 12% reported and 16% in constant currency to €635 million.
Net income increased to €129 million, up from €75 million a year ago.
Adjusted EBITDA reached €218 million with a margin of 34.4%.
All regions posted double-digit revenue growth in constant currency.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Birkenstock reaffirmed its FY2025 outlook with expectations for high-end revenue growth and stable margins despite currency headwinds.
Positive Outlook
- FY2025 revenue growth expected at high-end of 15–17% in constant currency.
- Adjusted EBITDA margin forecasted between 31.3%–31.8%.
- Strong demand across all regions and channels.
- Successful price adjustments support margin improvement.
- Operational efficiency gains from better manufacturing absorption.
Challenges Ahead
- Continued depreciation of the US dollar poses currency headwinds.
- 15% US/EU tariff agreement could impact profitability.
- Lower operating cash flow YoY due to timing of tax payments.
- Inventory and working capital changes weighed on cash generation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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