With respect to reported and constant currency basis, Birkenstock’s third-quarter revenue increased by 19 per cent to € 565 million. This growth was primarily attributed to the company’s consistently robust and expanding customer base across all product categories, channels, and sectors.
The company is restating its medium- to long-term profitability objectives for gross profit margin of roughly 60 per cent and adjusted EBITDA margin over 30 per cent. It also confirms fiscal 2024 guidance for revenue growth of 20 per cent in constant currency and adjusted EBITDA margin of 30 to 30.5 per cent.
Commenting on the financial performance, Oliver Reichert, CEO of Birkenstock Group and member of the company’s board said in a release, “We achieved the highest quarterly revenue in our history, driven by unbreakable and growing demand across all segments, channels and categories.”
All of the company’s segments saw double-digit sales growth, with the Americas seeing 15 per cent increase, Europe seeing 19 per cent growth, and the Asia-Pacific region seeing 41 per cent growth on a constant currency basis. On a constant currency basis, DTC revenue increased by 14 per cent and B2B sales by 23 per cent.
With a net profit of € 75 million, up 18 per cent, up 15 per cent, the gross profit margin was 59.5 per cent, down 220 basis points. The quarter’s adjusted net profit of € 92 million dollars increased by 14 per cent.
The company’s adjusted EBITDA margin of 33 per cent decreased by 140 basis points while its adjusted EBITDA of € 186 million increased by 15 per cent year over year. During the reviewed quarter, Birkenstock added seven more owned stores, bringing its total owned retail locations to 64.
