Birkenstock revenues rise to €1.49bn
Additionally, the group’s cash flows from operating activities rose 53% to €359m (£308.1m)
Birkenstock has reported a 20% increase in revenues to €1.49bn (£1.28bn) for the year to 30 September 2023, boosted by European sales which increased 18%.
Its EBITDA also rose 11% to €483m (£414m) and also recorded an adjusted EBITDA margin of over 30%.
However it expects a modest headwind to adjusted EBITDA margins due to planned ramp-up costs.
Net profit for the period was €75m (£64.3m) down from €187m (£160.5m) compared with the previous year. While, adjusted net profit for the year was €207m (£177.6m), up from €187m (£160.5m) the prior year and adjusted gross profit margin of over 60%.
Additionally, the group’s cash flows from operating activities rose 53% to €359m (£308.1m).
Looking ahead, Birkenstock expects revenues to be in the range of €1.74bn (£1.41bn) to €1.76bn (£1.51bn) on a constant currency basis, reflecting overall revenue growth of 17% to 18% compared with fiscal year 2023 with all segments and channels contributing to revenue growth.
It also expects adjusted EBITDA of €520m (£446.3m) to €530m (£454.9m) on a constant currency basis, resulting in an adjusted EBITDA margin of approximately 30%.
Oliver Reichert, CEO of Birkenstock Group and member of the board of directors of the company, said: “We are very pleased with our financial results and performance for fiscal year 2023. The past year has been the most successful year in our 250 year long tradition, and we entered our first year as a publicly listed company shortly thereafter. As a footbed company with a unique business model and a proven engineered distribution model, we offer a product with a purpose and that withstands short-term market or fashion trends, because it serves a primal human need – to walk as nature intended.
“For fiscal year 2024 we are confident to further grow our business by tapping significant addressable geographic, category extension and distribution white space, remaining strongly committed to delivering uncompromising premium quality to our customers and undeterred by the broader macroeconomic backdrop.”
