Birkenstock Holding plc Ordinary Shares

Good morning and thank you for standing by. Welcome to Birkenstock's third quarter of fiscal 2026 earnings conference call. At this time, all participants are in listen only mode. Following the presentation, we will conduct a question and answer session. The company has allocated 45 minutes to this conference call and will take as many questions as time allows. I would like to remind everyone that this conference call is being recorded. I will now turn the call over to Megan Kulick, Director of Investor Relations.

Hello and thank you everyone for joining us today. On the call are Oliver Reichert, Director of Birkenstock Holding plc and Chief Executive Officer of the Birkenstock Group and David Ciccolo, Chief Financial Officer of the Birkenstock Group. Today we are reporting the financial results for our fiscal third quarter ended June 30th, 2026. You may find the press release and a supplemental presentation connected to today's discussion on our investor relations website at birkenstock-holding.com. Results have also been filed on form 6k with the SEC. We would like to remind you that some of the information provided during this call is forward-looking and accordingly is subject to the safe harbor provisions of federal security laws. These statements are subject to various risks, uncertainties, and assumptions which could cause our actual results to differ materially from these statements. These risks, uncertainties, and assumptions are detailed in this morning's press release as well as in our filings with the SEC which can be found on our website at birkenstock-holding.com. We undertake no obligation to revise or update any forward-looking statements or information except for as required by law. We will reference certain non-IFRS financial information. We use non-IFRS measures as we believe they represent the operational performance and underlying results of our business more accurately. The presentation of this non-IFRS information is not intended to be considered by itself or as a substitute for the financial information prepared and presented Good morning, everybody. We performed exceptionally well in Q3 and once again demonstrated the strength of our brands. Given this continued momentum for fiscal 2026,

We raised our guidance for revenue growth to 15% in constant currency and adjusted EBDA of at least 710 million euros. We delivered another strong quarter. Our revenue grew 15% in constant currency at the high end of our annual target of 13 to 15%. EMEA growth accelerated to 15%. ETC growth accelerated to 16% in constant currency. Adjusted EBITDA margin on a life-like basis improved 60 basis points year over year. We achieved this despite an increase in costs, especially freight rates, due to the conflict in the Middle East. We returned capital to shareholders by repurchasing 230 million euros in shares. We also refinanced and upsized our senior nodes at a 75 basis points lower rate. We continue to grow in our wide spaces. APEC continued its high quality and DTC-led growth, especially in China. We accelerated the pace of retail expansion. We are on track to meet our target of approximately 140 doors by the end of fiscal 26. Importantly, owned retail revenue grew 50% in constant currency, saying store sales were up high single digits. We saw a strong acceleration in linear digital growth, capturing more demand in our own e-commerce channel. Bell Store Penetration was up 500 basis points, consistent with recent trends and in line with our goal to expand usage occasions for our foodbets. Product mix contributed over half of the growth in ASP. We saw double-digit growth across all of our regions. Our Americas business was up 14% in constant currency. Youth retailers and sporting goods stores continue to lead B2B growth with sellout at key partners in these channels up above 20% year over year. Within the America's B2C business, we saw very strong retail growth as we continue to open new stores to capture more in-person shopping demand in our own doors. We opened four new stores in the U.S. bringing the total to 21. Growth in EMEA was 15 percent in the largest most important quarter for EMEA we saw accelerating consumer demand especially in our DTC business both online and in-store with strong full price realization of 93 percent we opened four stores during the quarter bringing the total in EMEA to 50. APEC grew 23% in constant currency. Excluding Australia, APEC growth was close to 30%. Australia's growth in the quarter was impacted by a shift in quarterly cadence as a result of the distributor acquisition. We are very confident in our APEC target for the full year. Importantly, we had over 50% growth in China. The country with the highest ASP, a testament to our high-quality premium brand positioning in the region. Within the APEX segment, we opened five new owned stores, bringing the total to 53. On the product side, we continue to innovate and drive newness in both closed-toe and sandals. This innovation is most visible with our premium 7074 collection. We introduced new raffia, canvas, and premium leather executions in Naples, Boston, Arizona, and Gizeh. We also collaborated most recently with Song for the Mute, Ada Error, and Repetto, a very successful launch targeting the female-led and growing popularity of ballet flats. This global movement also resulted in a very strong demand for the Mary Jane style Santa Clarita, one of the newest mainline silhouette launches. This once again demonstrates our ability to create a trend within our brand. While demand for the boss remains very strong, other Glock executions also performed exceptionally well. For example, the Naples grew by more than four times the units sold year over year. We also saw very strong growth in shoes, led by Uti, a lace-up mock toe, which more than doubled in units sold year over year. Overall, non-Boston closed toe executions were up more than 50%. About half of our top 20 silhouettes are closed toe, including three that were introduced within the past three years. In our sandal business, we saw the strongest growth from our newest seasonal executions, such as flowers, rivets, buckles, prints and textiles. Growth was especially strong in our Magyari, Madrid and Sienna silhouettes. We highlight this newness most prominently within our DTC business, driving growth in our own channels. We remain super confident in the strength of our brand. We are purpose-driven and see strong global demand for the food debt. We target a diverse range of consumers across geography, gender, age and income. Our total addressable market is only limited by the global population. This gives us flexibility to drive growth regardless of global or regional macro conditions. We manage our distribution with discipline to maintain scarcity, properly segment the market, manage channel growth and protect full price realization. Now I will pass the call over to Ivica to go through the quarterly results in more detail.