Birkenstock Reports Record Third Quarter Revenue with 19% Year-Over-Year Growth

Birkenstock Holding plc (NYSE: BIRK) has announced its financial results for the third quarter of fiscal 2024, ending June 30, 2024. The company achieved record revenue of EUR 565 million, marking a 19% year-over-year growth, driven by robust consumer demand across all segments and categories.

Financial highlights include a 15% revenue increase in the Americas, 19% in Europe, and 41% in the APMA region on a constant currency basis. Direct-to-consumer revenue grew 14%, while B2B revenue saw a 23% rise.

The gross profit margin stood at 59.5%, a slight decline from the previous 61.7%, due to temporary impacts from production capacity expansion. Net profit reached EUR 75 million, an 18% increase compared to the previous year, with an EPS of EUR 0.40.

CEO Oliver Reichert attributed the growth to strong consumer demand and effective business strategies. The company also confirmed its fiscal 2024 guidance for revenue growth of 20% in constant currency and an adjusted EBITDA margin of 30-30.5%.

Birkenstock's strong balance sheet shows cash and equivalents at EUR 404 million, and a net leverage ratio of 2.1x LTM EBITDA as of June 30, 2024.