The sandal manufacturer Birkenstock ended the last quarter with a jump in sales. Revenues rose by 22 percent year-on-year to almost 303 million euros, as the company headquartered in Linz am Rhein in Rhineland-Palatinate announced on Thursday. The bottom line was that there was a loss of 7.15 million euros after red figures of around 9.2 million euros a year earlier.
Birkenstock points to investments in future growth that have temporarily depressed profitability. Among other things, the traditional company is expanding its factory in Pasewalk. The expansion is going according to plan, it said.
Birkenstock went public in New York at the beginning of October. The stock started below the issue price of $46 and took seven weeks to reach it again. In premarket trading, the price initially rose slightly after the quarterly report – in regular morning trading, the share then temporarily fell by around six percent.
Even after the IPO, Birkenstock will be controlled by the main shareholder L Catterton, who is linked to the luxury group LVMH and its billionaire boss Bernard Arnault. Only a relatively small proportion of shares can be traded on the stock exchange, which means that strong price fluctuations can occur more easily.
