Birkenstock Holding plc · NYSE:BIRK
Birkenstock — Investor Presentation (June 2024)
23 slides from Birkenstock's investor presentation, June 2024
Slide 1: Birkenstock Investor Information Presentation June 2024
BIRKENSTOCK: PRESENTATION INVESTOR INFORMATION JUNE 2024
Slide 2: Important notice and offering disclaimer
This presentation (the “Presentation”) has been prepared by Birkenstock Holding plc (“we,” “us,” “Birkenstock” or the “Company”) and is being furnished solely for use by the recipient in making its own evaluation of the Company and its business, assets, financial condition and prospects. We have fil
Slide 3: Forward-looking statements
Certain statements in this Presentation may constitute “forward-looking” statements and information within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securiti
Slide 4: The Birkenstock Case — A Unique Value Creation Model
BIRKENSTOCK THE BIRKENSTOCK CASE — A UNIQUE VALUE CREATION MODEL 250 YEAR OLD PURPOSE-DRIVEN BRAND VERTICALLY INTEGRATED SUPPLY CHAIN * — Category Ownership | Footbed business * — Full control over quality and output Not exposed to “mainstream” Asia outsourcing model and related risk * Archive, Icon
Slide 5: Consistently Strong Financial Performance in FY23 and H1 FY24
BIRKENSTOCK CONSISTENTLY STRONG FINANCIAL PERFORMANCE IN FY 23 AND H1FY 24 FY 23 ACTUALS H1 FY 24 ACTUALS REVENUE GROSS PROFIT ADJUSTED REVENUE GROSS PROFIT ADJUSTED GROWTH! MARGIN EBITDA GROWTH! MARGIN EBITDA VS. FY 22 MARGIN’ VS. HI FY 23 MARGIN! @tc @tc BIRKENSTOCK INVESTOR INFORMATION 6
Slide 6: H1 FY24: 20%+ Revenue Growth Across All Segments & Channels
BIRKENSTOCK: H1 FY24: 20%+ REVENUE GROWTH ACROSS ALL SEGMENTS & CHANNELS' IN € MILLION, UNLESS OTHERWISE STATED AMERICAS! EUROPE! APMA' 435 256 90 +20% +25% +h6% CHANNELS! BIRKENSTOCK INVESTOR INFORMATION 7 rrencies vs MI FY 23, Revenue S z Note: Revenue excl. Corpor ese seth Appendix this presentat
Slide 7: White Space: Territory | APMA
(1) WHITE SPACE: TERRITORY | APMA BUSINESS DEVELOPMENT IN APMA SHOWING SIGNIFICANT PROGRESS APMA REVENUE SHARE! REVENUE GROWTH VS. PRIOR PERIOD! 42% 0 GLOBAL 32% 29% 22% APMA FY 21 FY 22 FY 23 H1 FY 24 BIRKENSTOCK INVESTOR INFORMATION Note: ' Excluding “CarporatelOthe Revenues, Revenues and revenue
Slide 8: White Space: Channel | DTC
@) WHITE SPACE: CHANNEL | DTC DTC AND B2B GROWING DOUBLE-DIGITS DIC ENABLES STRATEGIC CONSUMER TARGETING AND BUILDS CATEGORY BASE COMMENTS SHARE OF REVENUE! Revenue Revenue Growth Growth B2B 22% 15% (MN 34% (RL 30/0 frag 40% Revenue Growth 19% 34% PE 30% FY 21 FY 22 BIRKENSTOCK INVESTOR INFORMATION
Slide 9: Impactful Consumer Touchpoints Through Own Retail
(@) WHITE SPACE: CHANNEL | DTC IMPACTFUL CONSUMER TOUCHPOINTS THROUGH OWN RETAIL NUMBER OF OWNED STORES SELECTED NEW LOCATIONS SINCE IPO 57 45 JUN-23 Openings MAR-24 a SHANGHAI BIRKENSTOCK INVESTOR INFORMATION SINGAPORE 10
Slide 10: White Space: Product | Expansionary Categories
(3) WHITE SPACE: PRODUCT | EXPANSIONARY CATEGORIES CONSISTENTLY DRIVING TRENDS FROM WITHIN TO ENHANCE ASP & TO EXPAND PRODUCT REACH BEYOND “SANDALS CATEGORY” CLOSED-TOE EXPANSION LEATHER EXPANSION SELECTED PRODUCT LAUNCHES FY 24 SHARE OF REVENUE! SHARE OF REVENUE? IN EXPANSIONARY CATEGORIES 4 SYNTHE
Slide 11: Capital Investment in FY22-24 Sets Stage for Capacity Ramp-Up
BIRKENSTOCK: CAPITAL INVESTMENT IN FY 22-24 SETS STAGE FOR CAPACITY RAMP-UP Capacity expansion accounts for the doubling of capacity in the next coming years: Leben, * Growth capital of approx. EUR 180 million invested during g eg, FY 22-24 é ~ * Additional investments in machine and labor capacity
Slide 12: Appendix A - H1 FY24 Financial Results
BIRKENSTOCK: APPENDIX A - H1 FY 24 FINANCIAL RESULTS
Slide 13: Income Statement
BIRKENSTOCK: INCOME STATEMENT IN € MILLION | UNAUDITED Six months ended March 31, FY23 FY 24 Revenue 644 Cost of sales (255) Gross profit 389 Selling and distribution expenses (173) General administration expenses (55) Foreign exchange gain (loss) (48) Other income (expense), net 4 Profit from opera
Slide 14: Balance Sheet
BIRKENSTOCK: BALANCE SHEET IN € MILLION | UNAUDITED September 30, March 31, 2023 024 i Gondwill 1594 1577 % Intangible assets (other than goodwill) 1,706 1,677 3 Property, plant and equipment 409 468 S Other assets 38 i 2 Total non-current assets 3,747 3772 B Inventories 595 651 = Trade and other re
Slide 15: Cash Flow Statement
BIRKENSTOCK: CASH FLOW STATEMENT IN € MILLION | UNAUDITED Six months ended March 31, AY23 FY Net profit (Lass) 0 oh Depreciation & amortization 4 47 Change in expected credit loss I (0) Finance cost, net 55 63 Net exchange differences 48 7 Non-cash operating items 3 2 Income tax expense 2 “0 Income
Slide 16: Revenue by Channel and Segment
BIRKENSTOCK: REVENUE BY CHANNEL AND SEGMENT IN € MILLION | UNAUDITED Six months ended March 31, Constant Currency FY 23 FY 26 Growth [%] Growth [%] 828 422 503 19% 1% orc 220 278 27% 31% Corporate / Other 3 3 3% 3h Total Revenue bh 784 22% 26% Americas 373 435 17% 20% Europe 205 256 25% 25% AFMA 63
Slide 17: Operating Expenses
BIRKENSTOCK: OPERATING EXPENSES IN € MILLION | UNAUDITED Six months ended March 31, FY 23 FY 24 Selling and distribution expenses (173) (217) Add Adjustments: Share-based compensation expenses! 0 0 Relocation expenses? 4 = Adjusted Selling and distribution expenses (169) (216) Six months ended March
Slide 18: Appendix B - Reconciliation Tables
BIRKENSTOCK: APPENDIX B - RECONCILIATION TABLES
Slide 19: Reconciliation of Non-IFRS Measures (1/5)
BIRKENSTOCK: RECONCILIATION OF NON-IFRS MEASURES (1/5) CONSTANT CURRENCY REVENUE | IN € MILLION | UNAUDITED Six months ended March 31 Year ended September 30, Group! FY23 FY 24 FY22 FY23 Revenues hd 704 1,243 1,492 Add (Less): U.S. Dollar impact! (25) 12 (57) 4) Canadian Dollar impact” (0) : (5) 3 O
Slide 20: Reconciliation of Non-IFRS Measures (2/5)
BIRKENSTOCK: RECONCILIATION OF NON-IFRS MEASURES (2/5) ADJUSTED GROSS PROFIT | IN € MILLION | UNAUDITED Six months ended March 31 Year ended September 30, FY 23 FY 24 FY 22 FY 23 Gross profit 389 456 750 926 Add: Effect of applying the acquisition method of accounting for the Transaction under IFRS’
Slide 21: Reconciliation of Non-IFRS Measures (3/5)
BIRKENSTOCK: RECONCILIATION OF NON-IFRS MEASURES (3/5) EBITDA AND EBITDA (ADJ) IN € MILLION | UNAUDITED Six months ended March 31 Year ended September 30, FY23 FY 24 FY 22 FY 23 Net profit (Los) 40 6h 137 B Ade Income tax expense B 40 8 n Finance cost, net 55 8 13 07 Depreciation and amortization 4l
Slide 22: Reconciliation of Non-IFRS Measures (4/5)
BIRKENSTOCK: RECONCILIATION OF NON-IFRS MEASURES (4/5) NET PROFIT | IN € MILLION | UNAUDITED Six months ended March 31, FY 23 FY 24 Net profit (loss) 40 bh Add (Less) Adjustments: Share-based compensation expenses! 3 4 Relocation expenses? 4 - Restructuring expenses 2 - (P0-related costs’ 9 7 Realiz
Slide 23: Reconciliation of Non-IFRS Measures (5/5)
BIRKENSTOCK: RECONCILIATION OF NON-IFRS MEASURES (5/5) EARNINGS PER SHARE | IN €, UNLESS OTHERWISE STATED | UNAUDITED Six months ended March 31, FY 23 FY 24 Net arofit (loss) (in € million) 40 bh Adjusted Net profit (loss) (in € million) 102 % Weighted number of outstanding shares (in million) 182.7
Birkenstock Holding — Investor Presentation (June 2024) on 6ix