(Finance) – Birkenstocksa German footwear company listed on Wall Street, closed thefinancial year ending 30 September 2024 with revenues equal to 1.8 billion euros, up 21% on a reported basis and 22% on a constant currency basis (more than the guidance of 20%), and a gross margin 58.8%, down 330 basis points from 62.1% due to planned temporary impact of production capacity expansion, channel mix change, currency conversion and other impacts
THE’net profit is 192 million euros, up 155% year-on-year, EPS of 1.02 euros, up 149% year-on-year. THE’adjusted net profit is 240 million euros, up 16% year on year; Adjusted EPS of EUR 1.28, up 13% year-over-year
“I am proud to announce very solid results for 2024, with revenues and adjusted EBITDA exceeding our expectations – commented the CEO Oliver Reichert – I want to thank the Birkenstock team for their hard work and solid execution in 2024. We closed the year with revenue growth of 22%, reaching over 1.8 billion euros in our first year as a listed company, continuing our ten-year record of revenue growth exceeding 20%. We are delivering on the commitments we made during our IPO by profitably expanding into the white-space opportunities we identified: closed silhouettes, orthopedics, professional, outdoor, the APMA region and our retail. As we continue to attract the attention of consumers and wholesale partners, we are seeing strong and balanced growth in both our DTC and B2B channels. Both of these channels are highly profitable and allow us to maximize our reach, particularly in new targeted consumer groups. As we look to 2025 and beyond, we are confident in our ability to achieve our medium and long-term objectives for revenue growth in the mid-to-high teens, a gross profit margin of approximately 60% and an adjusted EBITDA margin of more than 30%.”