Birkenstock has raised its annual revenue forecast, citing strong demand for its products. The New York-listed footwear manufacturer reported better-than-expected sales for the second quarter.
Growth was reported across all regions, with direct-to-consumer business through the company's own stores and internet platforms growing above average.
Birkenstock shares are rallying following the boost to the company's adjusted EBITDA forecast for the full year.
We delivered an exceptionally good performance and proved the strength of our brand.
Future Projections
The company expects a currency-adjusted revenue growth of 15 percent in 2026.
Expected adjusted EBITDA for 2026
Birkenstock also expects an adjusted EBITDA of at least 710 million euros for 2026.
In the previous quarter, Birkenstock repurchased shares worth 230 million euros.
Other Market Movements
ABN Amro reported a net profit of 780 million euros (900 million US dollars) between April and June, significantly exceeding profit expectations for the second quarter.
The Dutch bank's net interest income grew by 11 percent, while fee income grew by 25 percent.
Benefiting from the European Central Bank increasing interest rates in the Eurozone, ABN Amro raised its net interest income forecast for the current year from 6.4 billion to 6.8 billion euros.
ABN Amro's CET1 ratio improved to 15.9 percent, and its Return on Tangible Equity (RoTE) rose to 12.1 percent.
