Core Insights - Birkenstock reported better-than-expected earnings per share (EPS) of EUR 0.18, surpassing the forecast of EUR 0.17, while revenue of EUR 362 million fell short of the expected EUR 373 million, indicating strong demand despite sales challenges [2][3][6] Financial Performance - Adjusted EPS for Q1 2025 was EUR 0.18, a 100% increase year-over-year from EUR 0.09 in Q1 2024 [3] - Revenue increased by 19.5% year-over-year to EUR 362 million, compared to EUR 303 million in Q1 2024 [3][6] - Adjusted net profit rose to EUR 33 million, up 94.1% from EUR 17 million in the previous year [3] - Adjusted EBITDA reached EUR 102 million, reflecting a 25.9% increase from EUR 81 million in Q1 2024 [3] Regional Performance - The Americas region experienced a 16% revenue increase, driven by strong demand for closed-toe products [7] - EMEA region saw a 17% growth, while APAC reported a remarkable 47% increase, highlighting successful strategic investments [7] Business Strategy - The company is focusing on expanding its retail presence in under-penetrated markets and investing in geographic growth [5] - A strategic emphasis on B2B channels contributed to a 30% revenue rise in this segment, although it slightly impacted gross profit margin, which decreased by 0.7 percentage points to 60.3% [8] - An investment of EUR 19 million was made to enhance production capacity, ensuring the company can meet future demand [8] Future Outlook - For fiscal 2025, Birkenstock projects revenue growth between 15% and 17% and targets an adjusted EBITDA margin of 30.8% to 31.3% [9] - The company plans to open 30 new stores and expand its geographic footprint, particularly in the promising APAC region [9]
Birkenstock: Robust EPS, Revenue Miss