Birkenstock Delivers Strong Fiscal 2024 Results: Revenue Growth and Profitability Soar
In a remarkable display of financial prowess, Birkenstock has delivered strong fiscal 2024 results, exceeding expectations and solidifying its position as a leader in the footwear industry. During their recent conference call, the company's executives proudly announced a 22% revenue growth rate in constant currency, extending their decade-long track record of 20% plus compounded annual revenue growth.
The company's decision to expand profitably into under-penetrated product categories such as closed-toe silhouettes, orthopedics, professional, outdoor, and the APMA region has proven to be a winning strategy. Revenue from coastal silhouettes grew at over twice the rate of the overall group, increasing its share of business to about one-third.
"We are proud to report a very strong fiscal 2024 results which came in ahead of our expectations," said Oliver Reichert, Director of Birkenstock Holdings Plc and Chief Executive Officer of the Birkenstock Group. "We are delivering on the commitments we made during our IPO by expanding profitably into the white space opportunities we identify."
Not only did Birkenstock achieve impressive revenue growth, but it also demonstrated profitability, with an adjusted EBITDA margin of 30.8% in fiscal year 2024, beating the high end of expectations.
The company's APMA business grew at a staggering 42%, nearly double the pace of the overall business. About half of Birkenstock's top 20 selling silhouettes were close-toed, further highlighting the success of its strategic initiatives.
With these impressive results, Birkenstock solidifies its position as a leader in the footwear industry, demonstrating its ability to execute on its growth strategy and deliver strong financial performance. The company's commitment to innovation, customer satisfaction, and profitability will undoubtedly continue to drive its success in the years to come.
