Birkenstock Reports Record Second Quarter Revenue with 23% Growth

Birkenstock Holding plc has announced record-breaking revenue for the second quarter of fiscal 2024, reporting a 23% year-over-year growth on a constant currency basis. This impressive surge was driven by sustained strong consumer demand across all segments, channels, and categories.

As a result of a strong first half, Birkenstock has adjusted its full-year revenue growth guidance from 17-18% to 20%. The company now expects an adjusted EBITDA margin between 30.0-30.5%. For the quarter ending March 31, 2024, revenue reached EUR 481 million, showing a 22% increase on a reported basis.

Regionally, the Americas and Europe both saw a 21% rise in constant currency revenue, while the APMA region experienced significant growth of 42%. Birkenstock’s DTC revenue grew by 32% and B2B sales by 20%, demonstrating robust demand across different sales channels.

The gross profit margin, however, fell to 56.3% from 59.5% due to production capacity expansion and planned wage adjustments. Net profit also saw a rise of 45% to EUR 72 million, and EPS increased by 41% to EUR 0.38.

CEO Oliver Reichert attributes these results to the company’s strong business model and the consistent demand for Birkenstock’s longstanding core products. The company continues to invest in expanding production capacity to meet growing consumer demand.