Birkenstock Q1 Revenue €402 M Up 17.8% CC, Net Profit €51 M
Birkenstock reported fiscal 2026 first-quarter revenue of EUR 402 million, up 11.1% on a reported basis and 17.8% in constant currency, surpassing its 13–15% full-year constant-currency growth target. Net profit soared 151% to EUR 51 million with EPS of EUR 0.27, while gross margin narrowed 460 basis points to 55.7% due to 220 basis points of FX headwinds, 130 basis points of U.S. tariffs and channel-mix shifts.
1. Strong Holiday-Driven Revenue Surge
Birkenstock reported fiscal first-quarter 2026 revenue of EUR 402 million, up 11.1% on a reported basis and 17.8% in constant currency, exceeding its full-year constant-currency growth target of 13–15%. Constant-currency revenue rose across all regions with Americas up 14%, EMEA up 17% and APAC up 37% driven by robust holiday demand across all channels and categories.
2. Profit and Earnings Growth
Net profit jumped 151% year-over-year to EUR 51 million, delivering EPS of EUR 0.27 versus EUR 0.11 in the prior year period. Adjusted EBITDA reached EUR 106 million, up 4%, while adjusted EBITDA margin narrowed 170 basis points to 26.5% due to unfavorable FX translation and incremental U.S. tariffs.
3. Margin Pressures from FX and Tariffs
Gross profit margin declined 460 basis points to 55.7%, primarily driven by a 220-basis-point currency translation headwind, 130 basis points of U.S. tariffs and channel-mix shifts. Adjusted gross profit margin fell 290 basis points to 57.4%, partly offset by sales price adjustments and improved capacity absorption.
4. Strategic Outlook and Capacity Investment
The company reaffirmed its three-year plan targeting 13–15% annual constant-currency revenue growth and over 30% EBITDA margin. During the quarter Birkenstock invested EUR 38 million in production capacity and opened nine new own retail stores, bringing its global footprint to 106 stores to meet future demand.