Birkenstock Holding Plc · NYSE:BIRK
Birkenstock — Q1 FY26 Earnings Presentation
70 slides from Birkenstock's earnings presentation, May 13, 2026
Slide 1: Capital Markets Day NYC
CAPITAL MARKETS DAY NYC JANUARY 28, 2026
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this presentation (the “Presentation”) of Birkenstock Holding plc (together with all of its subsidiaries, the “Company,” “Birkenstock,” “we,” “our,” “ours,” or “us”) may constitute “forward-looking” statements and inform
Slide 3: Capital Markets Day Schedule
CAPITAL MARKETS DAY SCHEDULE 9:00 – 9:10 Welcome & Introductions 10:30 – 11:30 Segment Overview Megan Kulick, Director IR David Kahan, President Americas Nico Bouyakhf, President EMEA 9:10 – 9:30 Opening Remarks Klaus Baumann, CSO, President APAC Oliver Reichert, CEO 11:30 – 12:00 Product 9:30 – 10:
Slide 4: Our Mission: Give Everyone Access to the Footbed
OUR MISSION: GIVE EVERYONE ACCESS TO THE FOOTBED WE HAVE SOLD 72 MILLION FOOTBED PAIRS SINCE IPO 38M 34M 30M 28M 27M FY21 FY22 FY23 FY24 FY25 pre-IPO post-IPO 4
Slide 5: Omg! Just Another Boring Footwear Brand?
OMG! JUST ANOTHER BORING FOOTWEAR BRAND? GROWTH RATES FY25 VS. FY23 (PRE-IPO) | IN € MILLION UNLESS OTHERWISE STATED REVENUE ADJ. EBITDA NET LEVERAGE +41% +38% -55% 2,097 667 3.3x 1,492 483 | +22% | +19% | +21% | +24% 1.5x | -10% | -37% FY23 FY25 FY23 FY25 Sep-23 Sep-25 Note: Peer data according to
Slide 6: We Delivered on Our Promises
WE DELIVERED ON OUR PROMISES DOUBLED REVENUE IN WHITE SPACES SINCE FY23 APAC Own Retail Closed-Toe DOUBLED DOUBLED DOUBLED our business to €222M revenue in our own retail fleet to our business | now FY25 over 100 doors1 reaching 38% share of business Note: 1 As of January 2026, compared to year-end
Slide 7: We Are One of a Kind
WE ARE ONE OF A KIND OUTPERFORMING COMPS IN ADJ. EBITDA X REVENUE GROWTH COMBINATION | BUBBLE SIZE = FY25 REV 50 45 40 35 FY25 ADJ. EBITDA MARGIN 30 25 20 15 10 5 0 -10 -5 0 5 10 15 20 25 30 35 FY23-FY25 REVENUE CAGR Note: Peer data according to S&P Capital IQ; for Hermès, Moncler, LVMH, and Brunell
Slide 8: Huge Runway Ahead
HUGE RUNWAY AHEAD KEY COUNTRY PENETRATION COMPARISON (PAIRS SOLD FY25 PER ONE MILLION INHABITANT) AMERICAS EMEA APAC PENETRATION CLUSTER1 INHABIT- ANTS2 REVENUE GROWTH FY253 A ~510M +13% B ~170M +16% C ~250M +24% D ~3,800M +43% Denmark Portugal Argentina Mexico Italy Spain Turkey Netherlands Singapo
Slide 9: Continuing to Bring the Footbed to the People
CONTINUING TO BRING THE FOOTBED TO THE PEOPLE TARGETING ~10% CAGR IN FOOTWEAR PAIRS SOLD 38M 34M 30M FY23 FY24 FY25 FY26 FY27 FY28 9
Slide 10: Preliminary Results Q1 FY26
PRELIMINARY RESULTS Q1 FY26
Slide 11: Q1 FY26 Preliminary Results
Q1 FY26 PRELIMINARY RESULTS IN € MILLION UNLESS OTHERWISE STATED REVENUE ADJ. GROSS PROFIT | MARGIN1 ADJ. EBITDA | MARGIN ADJ. EPS (€) 402 231 | 57.4% 106 | 26.5% 0.27 +11.1% | +17.8% @cc +6% | (290)bp +4% | (170)bp +50% Note: All comparisons are to Q1 FY25. Constant Currency growth (@cc) of revenue
Slide 12: Strong Revenue Growth Across All Segments & Channels
STRONG REVENUE GROWTH ACROSS ALL SEGMENTS & CHANNELS IN € MILLION B2B 215 AMERICAS EMEA APAC +18% | 24% @CC 222 119 60 DTC +5% | 14% @CC +16% | 17% @CC +28% | 37% @CC ADJ. EBITDA 186 MARGIN3 +4% | 12% @CC Note: Revenue by segment, not showing the Corporate/Other segment (other, non-product revenue).
Slide 13: Adjusted Gross Profit Margin Impacted by External Effects
ADJUSTED GROSS PROFIT MARGIN IMPACTED BY EXTERNAL EFFECTS 60.3% 60.9% 110bp (80bp) 50bp (20bp) (220bp) 57.4% (130bp) 55.7% (170bp) Selected sales price Improved capacity Unfavorable currency Incremental adjustments net of absorption in our translation mainly in US tariffs inflation manufacturing the
Slide 14: Strong Margin Expansion Offset by External Effects
STRONG MARGIN EXPANSION OFFSET BY EXTERNAL EFFECTS 30.1% 28.2% 50bp 30bp 110bp (230bp) (130bp) 26.5% Selected sales price Improved capacity Unfavorable currency Incremental US adjustments net of absorption in our translation mainly in tariffs inflation manufacturing the Americas and facilities APAC
Slide 15: B2B Is a Great Business and Not a Sickness
B2B IS A GREAT BUSINESS AND NOT A SICKNESS ACCESS POINT FOR A TOUCH-AND-FEEL PRODUCT FY25 B2B DTC Average selling price (€) 40+ 95+ Gross profit margin (%) ~50% ~75% Adj. EBITDA margin (%) >30% <30% Orderbook visibility 5-9 MONTHS 15
Slide 16: Birkenstock Outlook FY26-FY28
BIRKENSTOCK OUTLOOK FY26-FY28
Slide 17: FY26-FY28 Outlook: Double-Digit Revenue and EPS Growth
FY26-FY28 OUTLOOK: DOUBLE-DIGIT REVENUE AND EPS GROWTH1 REVENUE ADJ. GROSS ADJ. EBITDA ADJ. EPS GROWTH2 PROFIT MARGIN4 MARGIN GROWTH 2028T +13-15% @CC ~57-58% 30%+ ~200BPS FASTER THAN REVENUE GROWTH 2026E +13-15% @CC 57.0-57.5% 30.0-30.5% €1.90-2.05 €2.30 – 2.35BN3 | +10-12% INCL TARIFF AND FX INCL
Slide 18: Targeting €1 Billion of Incremental Revenue in the Next 3 Years
TARGETING €1 BILLION OF INCREMENTAL REVENUE IN THE NEXT 3 YEARS +€1 BILLION1 [+13-15% @CC] AMERICAS EMEA APAC DOUBLE-DIGIT GROWTH DOUBLE-DIGIT GROWTH DOUBLING THE BUSINESS Note: 1 Targeted incremental annual revenue in FY28 vs. FY25, assuming the mid-point of the 13-15% guidance and a foreign exchan
Slide 19: Birkenstock Americas
BIRKENSTOCK AMERICAS
Slide 20: Americas: Largest Region with Continued Strong Demand Growth
AMERICAS: LARGEST REGION WITH CONTINUED STRONG DEMAND GROWTH # Countries via BS.COM1 # Retail stores # B2B doors3 2 14 ~10,000 membership Fastest growth in youth/sport growing +19%2 multi brand chains Note: Number of stores as of Q4 FY25; 1 via our DTC channel; 2 in FY25 vs LY; 3 estimate for FY25.
Slide 21: Americas Contributing 10%+ CAGR Over Next 3 Years
AMERICAS CONTRIBUTING 10%+ CAGR OVER NEXT 3 YEARS B2B CONTINUES EMERGING TO LEAD YOUTH DTC driven by new retail Fastest growing demographic adding lifetime value Note: Targeted growth FY28 vs. FY25. 21
Slide 22: Unmatched Full-Price Realization as Token of High Demand
UNMATCHED FULL-PRICE REALIZATION 1 AS TOKEN OF HIGH DEMAND SHARE OF UNITS SOLD AT FULL MSRP FOR KEY B2B ACCOUNTS IN THE USA A LEADING A LEADING A LEADING YOUTH FULL-LINE SPORTING GOODS DEPARTMENT STORE RETAIL CHAIN IN THE MARKET RETAIL CHAIN IN THE MARKET RETAIL CHAIN IN THE MARKET # 721 locations #
Slide 23: Attacking White Spaces and Increase Presence at Existing Doors
ATTACKING WHITE SPACES AND INCREASE PRESENCE AT EXISTING DOORS GROWTH PRIORITIES IN B2B WHITE SPACE ATTACK ACCELERATION IN CURRENT B2B FOOTPRINT ~600 DOORS +90% FROM EXISTING DOORS Note: Targets by end of FY28. 23
Slide 24: We Grow & Optimize Our Store Fleet, Targeting ~45 Stores by FY28
WE GROW & OPTIMIZE OUR STORE FLEET, TARGETING ~45 STORES BY FY28 GROWTH PRIORITIES TO EXPAND FOOTPRINT IN OWN RETAIL RETAIL EXPANSION +30 STORES net incremental target FY28 vs. FY25 Note: Stores refer to own-retail stores. 24
Slide 25: 4 Focus Areas to Drive Dynamic Growth in Digital / DTC
4 FOCUS AREAS TO DRIVE DYNAMIC GROWTH IN DIGITAL / DTC CRITICAL GROWTH PRIORITIES IN DIGITAL CUSTOMER FOCUS ENGAGE & CONVERT CONNECT WHERE THEY ARE SEAMLESS EXPERIENCE EMERGING YOUTH MEMBERSHIP OWNED BRAND COMMERCE WEBSITE REPLATFORM & AI SOCIAL COMMERCE LOYALTY & COMMUNICATION ENABLED TOOLS EVENTS
Slide 26: Birkenstock EMEA
BIRKENSTOCK EMEA
Slide 27: EMEA: High-Quality Business Originating from Our Birthplace
EMEA: HIGH-QUALITY BUSINESS ORIGINATING FROM OUR BIRTHPLACE BEST REGIONAL MARGIN PROFILE WITH SIGNIFICANT HEADROOM TO GROW # Countries via BS.COM # Retail stores # B2B doors3 27 42 ~9,000 membership complemented by with ~90% of growth coming growing +30%2 >100 partner retail stores from existing doo
Slide 28: EMEA Delivering DD Growth with Highest Regional Profitability
EMEA DELIVERING DD GROWTH WITH HIGHEST REGIONAL PROFITABILITY BROAD BASED ENGINEERED GROWTH HIGHER PENETRATION DTC ACCELERATION X1.5+ underpenetrated markets deeper direct consumer engagement closed-toe to outpace open-toe new audiences higher profit per pair demand exceeding supply Note: Targets by
Slide 29: Growing with Existing Partners and Expanding Selectively
GROWING WITH EXISTING PARTNERS AND EXPANDING SELECTIVELY GROWTH PRIORITIES TO EXPAND QUALITY DISTRIBUTION IN B2B EXISTING PARTNERS NEW DISTRIBUTION PARTNER RETAIL EXPANSION ~80% +1,500 DOORS +80 STORES of growth driven by existing partners door expansion driven by Sports & Outdoor targeting total >1
Slide 30: Doubling Our Store Fleet, Targeting ~80 Stores
DOUBLING OUR STORE FLEET, TARGETING ~80 STORES GROWTH PRIORITIES TO EXPAND FOOTPRINT IN OWN RETAIL RETAIL EXPANSION LIKE-FOR-LIKE OPTIMIZATION +40 STORES +MSD% net incremental target FY28 vs. FY25 LFL growth target p.a. Note: Targets by end of FY28; MSD = “mid-single digits”; LFL = like-for-like sto
Slide 31: Unlocking the Next Phase of Online Growth
UNLOCKING THE NEXT PHASE OF ONLINE GROWTH GROWTH PRIORITIES TO DRIVE AND CONVERT DEMAND IN OWN DIGITAL HALO EFFECT FROM INCREASING MONO-BRAND RETAIL FOOTPRINT DISTINCTIVE OFFERING ELEVATED STORY TELLING PERSONALIZATION NEW BUSINESS MODELS • 100+ DTC EXCLUSIVE STYLES P.A. • UNIQUE STORY LED CONTENT •
Slide 32: Further Expanding Our High-Quality Business in EMEA
FURTHER EXPANDING OUR HIGH-QUALITY BUSINESS IN EMEA DELIVERING SUBSTANTIAL INCREMENTAL GROWTH MATERIAL GROWTH OPPORTUNITIES AHEAD HIGH DEGREE OF DISTRIBUTION DISCIPLINE BEST MARGIN PROFILE 32
Slide 33: Birkenstock APAC
i) <= .. <= BIRKENSTOCK
Slide 34: APAC: Unleashing the Growth Potential in the Largest FTW Market
APAC: UNLEASHING THE GROWTH POTENTIAL IN THE LARGEST FTW MARKET EXPANSION OF OUR OWN & PARTNER STORE FLEET # Countries via BS.COM1 # Mono-brand stores # B2B Doors3 8 245 ~2,200 membership Own retail catalyzing premium with >70% of growth coming from growing ~50%2 brand experience & Partner existing
Slide 35: APAC: Doubling the Business by FY28
APAC: DOUBLING THE BUSINESS BY FY28 DISCIPLINED GROWTH AND PROFITABILTY DTC DRIVEN SHOES GROWTH AND CLOGS deepen direct consumer engagement becoming a year-around business & raise brand awareness 35
Slide 36: Unlocking the Growth Potential in APAC
UNLOCKING THE GROWTH POTENTIAL IN APAC 3-Pillar omnichannel expansion Product Acceleration Engagement OWN RETAIL SHOES CONNECT PARTNER RETAIL CLOGS PURPOSE DIGITAL 1774/SMU EXPERIENCE Connect through community 36
Slide 37: APAC Own Retail as a Catalyst for Premium Brand Experience
APAC OWN RETAIL AS A CATALYST FOR PREMIUM BRAND EXPERIENCE IN-STORE BRAND EXPERIENCE IS VITAL TO DELIVERING VALUE AT PREMIUM PRICE POINTS MELBOURNE SENTOSA 37
Slide 38: Growing & Optimizing Premium Retail to Over 300 Stores by FY28
GROWING & OPTIMIZING PREMIUM RETAIL TO OVER 400 STORES BY FY28 GROWTH PRIORITIES IN OFFLINE EXPANSION THROUGH OWNED AND PARTNER RETAIL OWN RETAIL EXPANSION LFL OPTIMIZATION PARTNER RETAIL EXPANSION +70 STORES +DD% +100 net incremental target FY28 vs. FY25 LFL growth target partner store target FY28
Slide 39: Delivering Qualitative, Value Driven Growth in Digital
DELIVERING QUALITATIVE, VALUE DRIVEN GROWTH IN DIGITAL 3 PILLARS OF SUSTAINABLE GROWTH CONTENT-LED STRATEGY MERCHANDISE STRATEGY MEMBERSHIP & SERVICES CREATING DEMAND THROUGH EXCLUSIVITY MEMBERSHIP VALUE CONSISTENT HIGH-VALUE CONTENT & CHANNEL SEGMENTATION & BRAND ASSET EQUITY 39
Slide 40: Product
— eo —) & i—| ce a. BIRKENSTOCK
Slide 41: Purpose Driven Iconic Product - Rooted in Our Rich Archive
PURPOSE DRIVEN ICONIC PRODUCT - ROOTED IN OUR RICH ARCHIVE KEY FRANCHISE OVERVIEW (THE BIG 5) Arizona (1973) Boston (1973) Gizeh (1983) Mayari (2009) Madrid (1963) PURPOSE CORE INVENTION VISION empower all people to walk We are in the give all people access to an the way nature intended FOOTBED busi
Slide 42: We Have Extended Consumer Reach and Price Architecture of Arizona Franchise
WE HAVE EXTENDED CONSUMER REACH AND PRICE 500€ ARCHITECTURE OF ARIZONA FRANCHISE ARIZONA FRANCHISE – SELECTED EXECUTIONS ACROSS PRICE POINTS [RRP1 €] 200€ 1774 160€ DROPLET BUCKLE 150€ BIG BUCKLE 150€ SHEARLING 120€ INJECTED RIVETS 90€ SUEDE LEATHER 55€ BIRKOFLOR EVA Note: 1RRP = Recommended Retail
Slide 43: Continuously Building ASP Through Product Mix Management
CONTINUOUSLY BUILDING ASP THROUGH PRODUCT MIX MANAGEMENT ARIZONA FRANCHISE – EXAMPLES OF DETAILED PRODUCT DIFFERENTIATION AND UPTRADING [RRP1 €] EVA “CLASSIC” 55€ SUEDE LEATHER 120€ INJECTED RIVETS 150€ BIG BUCKLE 160€ EVA BIG BUCKLE 65€ SUEDE FULL EXQUISITE 180€ RIVETS FULL EXQUISITE 230€ BIG BUCKL
Slide 44: We Have Successfully Developed the Business Beyond Sandals
WE HAVE SUCCESSFULLY DEVELOPED THE BUSINESS BEYOND SANDALS BUSINESS DEVELOPMENT OF CLOSED- AND OPEN-TOE PRODUCTS ACROSS ALL CATEGORIES 1 1 1 SOB CAGR SOB CAGR SOB • BEFORE COVID A “SANDALS BRAND” CLOSED-TOE >40% >40% • WHILE CLOSED TOE GREW AT AN AVERAGE 38% OF >40%, OPEN TOE GROWING AT ROBUST DOUBL
Slide 45: Closed-Toe Has Improved Quarterly Revenue Balance
CLOSED-TOE HAS IMPROVED QUARTERLY REVENUE BALANCE REVENUE SHARE OF FISCAL YEAR QUARTERS 34% 31% 30% 27% 25% 13PP 19PP 20% 17% 15% Q1 (OCT-DEC) Q2 (JAN-MAR) Q3 (APR-JUN) Q4 (JUL-SEP) FY 2019 FY 2025 45
Slide 46: We Own the Sandal Category!
WE OWN THE SANDAL CATEGORY! 46
Slide 47: Now We Also Own the Clogs Category!
NOW WE ALSO OWN THE CLOGS CATEGORY! HAPPY BIRTHDAY BOSTON SINCE 1976 47
Slide 48: Several Successful Product Introductions Since IPO Year FY23
SEVERAL SUCCESSFUL PRODUCT INTRODUCTIONS SINCE IPO YEAR FY23 SELECTED PRODUCT INTRODUCTIONS SINCE IPO YEAR FY23 • NEW INTRODUCTIONS STRONGLY FOCUS ON BROADENING CLOSED-TOE SEGMENT Naples 2023 Lutry 2023 Utti 2023 • WHOLESALE AND OWN RETAIL PRESENCE CREATE AWARENESS AND CONSUMER TOUCHPOINTS • REVENUE
Slide 49: Three Major Ways of Innovation | From Function to Culture
THREE MAJOR WAYS OF INNOVATION | FROM FUNCTION TO CULTURE PILLARS OF PRODUCT INNOVATION STRENGTHENING CONVERTING REGIONAL NEEDS & TRENDS PREMIUM BRAND APPEAL I ATTRACTING ORTHOPEDIC I FUNCTIONAL DNA INTO BRAND RELEVANT BUSINESS INFLUENTIAL CONSUMER “TRIBES” PURE FUNCTION SEASONAL CULTURAL RELEVANCE
Slide 50: Certified Professional Products Strengthen Brand DNA
CERTIFIED PROFESSIONAL PRODUCTS STRENGTHEN BRAND DNA PRODUCT INNOVATION EXAMPLES I PURE FUNCTION MELBOURNE PRO MELBOURNE “EVERY DAY” 50
Slide 51: Seasonal Innovation Addressing Regional Needs and Trends
SEASONAL INNOVATION ADDRESSING REGIONAL NEEDS AND “TRENDS” PRODUCT INNOVATION EXAMPLES I SEASONAL AMSTERDAM WRAPPED MARIA 51
Slide 52: 1774: Spearheading Inspiration Driven Innovation
1774: SPEARHEADING INSPIRATION DRIVEN INNOVATION PRODUCT INNOVATION EXAMPLES I CULTURAL RELEVANCE 1774 BIRKENSTOCK X DANIELLE FRANKEL 52
Slide 53: 1774: Spearheading Inspiration Driven Innovation
1774: SPEARHEADING INSPIRATION DRIVEN INNOVATION PRODUCT INNOVATION EXAMPLES I CULTURAL RELEVANCE 1774 BIRKENSTOCK X DANIELLE FRANKEL 53 53
Slide 54: 1774: Spearheading Inspiration Driven Innovation
1774: SPEARHEADING INSPIRATION DRIVEN INNOVATION PRODUCT INNOVATION EXAMPLES I CULTURAL RELEVANCE 1774 BIRKENSTOCK ENSEMBLE 1774 THIBO DENIS 54 54
Slide 55: Supply Chain
BIRKENSTOCK SUPPLY CHAIN
Slide 56: Supply Chain to Support Our Growth
SUPPLY CHAIN TO SUPPORT OUR GROWTH Supply chain targets 10% 15% UNIT GROWTH CAGR1 PRODUCTION HOUR GROWTH CAGR1 Note: 1 Targeted CAGR FY25-FY28. 56
Slide 57: Our Vertically Integrated Supply Chain Is Who We Are
OUR VERTICALLY INTEGRATED SUPPLY CHAIN IS WHO WE ARE 95% OF OUR PAIRS ASSEMBLED IN OUR OWNED FACTORIES IN GERMANY Factsheet 7 95% 100% 100% OWNED AND OPERATED OF PRODUCTS ASSEMBLED OF OUR FOOTBEDS ARE OF OUR FOOTWEAR IS MADE FACTORIES IN-HOUSE IN GERMANY MADE IN GERMANY IN THE EU ~5,000 >90% DIRECT
Slide 58: Our Supply Chain Is an Asset Providing Value to Shareholders
OUR SUPPLY CHAIN IS AN ASSET PROVIDING VALUE TO SHAREHOLDERS CONTROL OVER OUR PRODUCT, AGILITY, RESILIENCE, MARGIN GENERATION AND CAPITAL DEPLOYMENT Control over IP and Resilience to supply chain Strong, predictable & quality end-to-end risks improving margin Direct partnerships Agility to react to
Slide 59: B2B Allows Us to Efficiently Organize Our Supply Chain
B2B ALLOWS US TO EFFICIENTLY ORGANIZE OUR SUPPLY CHAIN HIGH PLANNABILITY OF OUR BUSINESS AND ROOM TO REACT TO CHANGES IN DEMAND of all units carryover >70% of all units contracted with 5-9 month visibility 85% allowing for preproduction and production balancing ~5% of all units seasonal and not cont
Slide 60: In Past 2 Years, We Have Proven Our Capability to Scale
IN PAST 2 YEARS, WE HAVE PROVEN OUR CAPABILITY TO SCALE SINCE OUR IPO 25% GROWTH IN VOLUME, 50% IN PRODUCTION HOURS 25% >50% AROUCA M&A AND SCALING VOLUME GROWTH EVA AND PU CAPACITY INCREASE Scaled from 100 to 800 workers Expansion to 6.000m2 production area 50% >2x PASEWALK NEWBUILD PRODUCTION HOUR
Slide 61: New Expansion Plan Is Designed for Speed & Flexibility
NEW EXPANSION PLAN IS DESIGNED FOR SPEED & FLEXIBILITY New expansion plan to… Extensions of …deliver on growth of units and production hours existing facilities …have a highly positive business case, CAPEX investment reduced by brownfield acquisitions Brownfield …be designed for speed with faster go
Slide 62: Three Large Expansion Projects Underway
THREE LARGE EXPANSION PROJECTS UNDERWAY… WE PLAN TO BE AGILE LOOKING FOR ADDITIONAL OPPORTUNITIES TO ADD TO OUR FACTORY FOOTPRINT GO LIVE FY26 GO LIVE FY27 GO LIVE FY27 BEYOND GÖRLITZ EXTENSION WITTICHENAU BROWNFIELD AROUCA EXTENSION BROWNFIELD FOOTBEDS | SANDALS | CLOGS 1 ST PHASE: FOOTBEDS | SANDA
Slide 63: We Are Adapting Our Logistics Network
WE ARE ADAPTING OUR LOGISTICS NETWORK Future of our logistics Unit growth CONSOLIDATED FOOTPRINT DIRECT SHIPMENTS TO REGIONS B2B growth REGIONAL APAC HUB LEATHER HUB Retail/online expansion APAC growth 63
Slide 64: Appendix
APPENDIX
Slide 65: Reconciliation of Non-IFRS Measures (1/6)
RECONCILIATION OF NON-IFRS MEASURES (1/6) REVENUE | IN € MILLION Q1 Q1 Constant Currency FY25 FY26 Growth [%] Growth [%] B2B 182 215 18% 24% DTC 179 186 4% 12% Corporate / Other 1 1 (49)% (49)% Total Revenue 362 402 11% 18% Americas 211 222 5% 14% EMEA 103 119 16% 17% APAC 47 60 28% 37% Corporate /
Slide 66: Reconciliation of Non-IFRS Measures (2/6)
RECONCILIATION OF NON-IFRS MEASURES (2/6) GROSS PROFIT | IN € MILLION Q1 FY25 FY26 Gross Profit 218 224 Add (Less) Adjustments: Distributor mark-up reversal1 - 7 Adjusted Gross Profit 218 231 Margin 60.3% 57.4% 1 Represents the distributor mark-up applied to inventories sold by the Company to Birken
Slide 67: Reconciliation of Non-IFRS Measures (3/6)
RECONCILIATION OF NON-IFRS MEASURES (3/6) EBITDA | IN € MILLION Q1 FY25 FY26 Net profit (loss) 20 51 Income tax expense 19 19 Finance cost, net 25 9 Depreciation & amortization 26 30 EBITDA 90 108 Add (Less) Adjustments: 1 Distributor mark-up reversal - 7 Acquisition-related transaction costs2 - 0 3
Slide 68: Reconciliation of Non-IFRS Measures (4/6)
RECONCILIATION OF NON-IFRS MEASURES (4/6) NET PROFIT | IN € MILLION Q1 FY25 FY26 Net profit (loss) 20 51 Add (Less) Adjustments: 1 Distributor mark-up reversal - 7 Acquisition-related transaction costs2 - 0 Gain from bargain purchase3 - (12) Realized and unrealized FX gains / losses4 12 3 Tax adjust
Slide 69: Reconciliation of Non-IFRS Measures (5/6)
RECONCILIATION OF NON-IFRS MEASURES (5/6) EARNINGS PER SHARE | IN €, UNLESS OTHERWISE STATED Q1 FY25 FY26 Net profit (loss) (in € million) 20 51 Adjusted Net profit (loss) (in € million) 33 49 Weighted number of outstanding shares (# million) 187.8 183.9 EPS (Basic/Diluted) 0.11 0.27 Adjusted EPS (B
Slide 70: Reconciliation of Non-IFRS Measures (6/6)
RECONCILIATION OF NON-IFRS MEASURES (6/6) NET LEVERAGE | IN € MILLION Sep Sep 2024 2025 Loans and borrowings (Non-current) 1,170 1,128 USD Term Loan (Current) 8 5 Lease liabilities (Non-current) 143 149 Lease liabilities (Current) 41 44 Cash and cash equivalents 356 329 Net Debt 1,006 997 Adjusted E