Loan & DebtJun 16, 2026, 04:22 PM
Birkenstock Subsidiary Prices €900M 4.500% Senior Notes Due 2033
AI Summary
Birkenstock Holding plc announced that its indirect wholly-owned subsidiary, Birkenstock Group B.V. & Co. KG, successfully priced an offering of €900,000,000 in 4.500% Senior Notes due 2033. In connection with this offering, the company updated various disclosures in its Annual Report, including risk factors related to its DTC growth strategy, international trade policies, acquisitions, economic conditions, and supply chain disruptions. The company expects tariffs and foreign currency fluctuations to impact its margins by approximately 100 basis points each in fiscal 2026.
Key Highlights
- Birkenstock Group B.V. & Co. KG priced €900,000,000 in 4.500% Senior Notes due 2033.
- DTC channel represented 37% of revenues for the twelve months ended March 31, 2026.
- Americas segment accounted for 51% of revenue for the twelve months ended March 31, 2026.
- Tariffs are expected to impact gross profit, adjusted EBITDA, and net profit margins by ~100 basis points in fiscal 2026.
- Foreign currency fluctuations are expected to impact gross profit, adjusted EBITDA, and net profit margins by ~100 basis points in fiscal 2026.
- B2B channel sales through third parties accounted for 63% of revenues for the twelve months ended March 31, 2026.
- Acquired a production facility in Wittichenau, Germany in September 2025.
- Acquired Birkenstock Australia Pty. Ltd. in October 2025.
Price Impact
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