By the end of September, revenues are expected to rise by 17 to 18 percent, as Birkenstock announced on Thursday in its first quarterly report after its IPO in New York at the beginning of October.
At that time, Birkenstock shares started below the issue price of $46 and took seven weeks to reach it again. In NYSE trading it recently fell 7.76 percent to $46.10.
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The figures presented on Thursday are for the financial year ended at the end of September 2023. So they cover the period up until shortly before going public. In the final quarter, Birkenstock increased sales by a good 16 percent to 374.5 million euros and posted a bottom line of 28.3 million euros in the red. The company attributes the loss to the costs of expanding its plant in Pasewalk. In the same quarter of the previous year, almost 58 million euros remained in the cash register.
In the entire financial year, Birkenstock sales rose by a fifth to 1.49 billion euros and profits fell from 187 to 75 million euros. The sales growth was due to a 6 percent increase in sales and a 14 percent increase in the average selling price.
During its IPO, Birkenstock was caught, among other things, by investors’ concerns about consumers’ willingness to buy. The company wants to expand the range and open up new markets. The company, headquartered in Linz am Rhein in Rhineland-Palatinate, currently has a market value of over nine billion dollars.
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NEW YORK (dpa-AFX)
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