Birkenstock Q3 23 – 29/11 – as IPOs go Birkenstock hasn't had a great time of it, trading consistently below its $46 listing price, the shares fell 12% on the opening day, trading down to $36 although we have since rebounded from those lows.
They say timing is everything when it comes to IPO's and we can safely say Birkenstocks timing was off, given the sharp sell-off in October. One thing in its favour is that the business is profitable, with the business seeing total revenue in 2022 of $1.35bn, with net income of $202.8m.
When the accounts were released prior to the IPO the revenues for the 9-months to June were estimated to be $1.2bn, and on course to beat last year's total revenue number.
Themoney raised by the IPO as allowed the company to repay $550m in loans, reducing its total debt to €1.31bn.
Will this week's Q3 numbers give the stock a decent leg up?a
