Birkenstock Holding announced its financial results for the fiscal year ending September 30, 2024. The company reported a 21% increase in revenue, reaching EUR 1.8 billion.
On a constant currency basis, revenue grew by 22%, exceeding the company’s earlier projection of 20%. The adjusted EBITDA margin stood at 30.8%, surpassing the target range of 30-30.5%.
The company’s net profit rose sharply to EUR 192 million, a 155% increase compared to the previous year, with earnings per share (EPS) at EUR 1.02. Adjusted net profit for the year was EUR 240 million, up by 16%, while adjusted EPS increased to EUR 1.28.
Birkenstock’s gross profit margin was reported at 58.8%, slightly lower than last year due to expanded production capacity and changes in sales channels.
Performance was strong across all regions. Revenue in the Americas grew by 19%, while Europe saw a 21% increase. The APMA region recorded the highest growth, with revenue rising by 42%.
In terms of sales channels, direct-to-consumer revenue grew by 21%, while business-to-business revenue increased by 23%. The company also reported strong growth in closed-toe footwear, with sales in this category growing at twice the group average and now accounting for one-third of the business.
For the fourth quarter, Birkenstock reported revenue of EUR 456 million, a 22% increase compared to the same period last year. The adjusted EBITDA for the quarter rose by 31%, reaching EUR 125 million, with a margin of 27.4%. Net profit for the quarter was EUR 52 million, compared to a net loss of EUR 28 million in the same period last year.
Looking ahead, Birkenstock expects revenue to grow by 15-17% in fiscal 2025 and aims to improve its gross profit margin as production facilities are utilised more efficiently. Capital expenditures for the year are projected at EUR 80 million, with the company targeting a lower net leverage ratio by the end of the fiscal year.
