UK-based Birkenstock reported fiscal year 2025 (FY25) revenue of €2.09bn ($2.44bn) for the year ended 30 September 2025, surpassing the company’s previously issued guidance.
It represents a 16% year-on-year increase and on a constant currency basis, revenue rose 18%, ahead of its 15-17% growth outlook.
Net profit increased 82% to €348.3m while earnings per share (EPS) rose to €1.87 from €1.02 a year earlier.
Adjusted net profit grew 44% to €345.6m and adjusted earnings per share increased 45% to €1.85.
Gross profit margin improved by 30 basis points to 59.1%, supported by pricing actions and improved manufacturing absorption, partly offset by unfavourable currency movements and incremental US tariffs.
Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 20% to €666.9m, with the adjusted EBITDA margin reaching 31.8%, at the high end of guidance, despite currency translation and tariff headwinds of 70 basis points.
The company recorded double-digit revenue growth across all regions, with reported growth of 15% in the Americas, 14% in Europe, Middle East, and Africa and 31% in Asia-Pacific.
B2B revenue increased 20% on a reported basis while direct-to-consumer revenue grew 11%.
Closed-toe footwear continued to outperform sandals, raising its share of annual revenue to 38%.
Operating cash flow totalled €384m, lower year on year due mainly to the timing of tax payments and working capital movements.
Net leverage declined to 1.5x at the end of the year, compared with 1.8x a year earlier. During the year, the company repurchased and cancelled 3.9 million shares for €176m.
In the fourth quarter, revenue reached €526m, up 15% on a reported basis and 20% in constant currency while adjusted EBITDA increased 17% to €147m and net profit rose 79% to €94m.
For FY26, Birkenstock forecast constant currency revenue growth of 13-15%, corresponding to reported revenue of €2.30bn-€2.35bn.
Adjusted EBITDA is expected to be at least €700m, with an adjusted EBITDA margin of 30.0-30.5% while adjusted EPS is projected at €1.90-€2.05.
The group plans capital expenditure of €110-€130m and intends to repurchase shares for total consideration of $200m, subject to market conditions.
Birkenstock CEO and board member Oliver Reichert said: “We are proud to be reporting very strong fiscal 2025 results, with constant currency revenue growth coming in ahead of our target at 18% and adjusted EBITDA margin at the high end of our guidance range.
"Once again, the Birkenstock team executed very well and our brand continues to stand out with consumers.”
