Birkenstock: sales growth exceeds expectations – schuhkurier

Birkenstock is growing and exceeding its own expectations: As the company announced for both the fourth quarter and the full year of 2024, it achieved sales revenues of 1.8 billion euros. This puts growth at around 21%, which is above the forecast 20% at constant exchange rates. The company reported strong double-digit revenue growth across all segments, including 19% in the Americas, 21% in Europe, 42% in the APMA (Asia Pacific, Middle East and Africa) region. DTC sales grew 21% and B2B sales grew 23% on a constant currency basis. Gross profit margin, meanwhile, fell to 58.8%, down 330 basis points from 62.1%. The reason for this is the planned and temporary effects of the expansion of production capacities, the shift in the sales channel mix, and “other effects”.

Net profit amounted to 192 million euros in the 2024 financial year, an increase of 155% compared to the previous year, and earnings per share (EPS) rose to 1.02 euros, 149% higher than the previous year. At the same time, adjusted net profit rose by 16% to 240 million euros, and adjusted earnings per share rose by 13% to 1.28 euros. At EUR 555 million, adjusted EBITDA was around 15% higher than the previous year. At 30.8%, the EBITDA margin exceeded the forecast range of 30 to 30.5%.

For the coming year, Birkenstock expects sales growth of 15 to 17%. All segments, channels and categories should continue to participate heavily in this. The adjusted EBITDA margin is expected to be between 30.8 and 31.3%, an increase of up to 50 basis points compared to the 2024 financial year. The gross profit margin will improve due to higher utilization of the new production facilities; the long-term goal is 60%. The effective tax rate should be around 30%, while investments amounting to around 80 million euros are planned.

Oliver Reichert, CEO of the Birkenstock Group and member of the company’s Board of Directors: “I am proud to be able to present very strong results for 2024, with both sales and adjusted EBITDA exceeding our expectations. I would like to thank the Birkenstock team for their hard work and strong execution in 2024.” And further: “We are fulfilling the commitments we made during our IPO by profitably expanding into the white spots we have identified: closed toe silhouettes , Orthopedics, Professional, Outdoor, the APMA region and our own retail. As we continue to gain attention from consumers and wholesale partners, we are experiencing strong, balanced growth in our DTC and B2B channels.”