Birkenstock FY revenues rise 21% to €1.8bn
The shoe brand also saw its adjusted EBITDA margin for FY24 reach 30.8%, exceeding the group’s targeted range of 30-30.5%
Birkenstock has reported that revenues rose by 21% to €1.8bn (£1.48bn) for the year to 30 September, slightly ahead of its previous guidance of 20%, due to continued “strong and growing” consumer demand for its products across the board.
During the fourth quarter, Birkenstock’s revenues also rose 22% to €456m (£375m).
Globally, Birkenstock achieved strong double-digit revenue growth of 19% in the Americas, 21% in Europe and 42% in APMA on a constant currency basis for the year.
The shoe brand also saw its adjusted EBITDA margin for FY24 reach 30.8%, exceeding the group’s targeted range of 30-30.5%.
As a result of its performance, Birkenstock’s net profit hit €192m (£158m) for FY24, spelling a rise of 155% year-over-year.
Oliver Reichert, CEO of Birkenstock Group, said: “We are delivering on the commitments we made during our IPO by expanding profitably into the white-space opportunities we identified: Closed-toe silhouettes, orthopedics, professional, outdoor, the APMA region and our own retail.
“As we continue to gain the attention of consumers and wholesale partners, we are seeing strong, balanced growth in both our DTC and B2B channels. Both of these channels are highly profitable and allow us to maximize our reach, especially into new targeted consumer groups.”
He added: “We are confident in our ability to deliver on our medium to long-term objectives for mid-to-high teens revenue growth, gross profit margin of around 60% and Adjusted EBITDA margin of over 30%.”
