Birkenstock posts record revenue for the first quarter of 2024

Birkenstock Holding plc announced significant revenue growth for the first quarter of fiscal 2024, ending December 31, 2023. With an increase of 26% on a constant currency basis, revenue reached €303 million. This performance is supported by strong demand for its products across all regions, channels and categories.

The brand, known for its comfortable shoes, has a direct-to-consumer (DTC) penetration rate of 53%, driven by DTC revenue growth of 30% and B2B revenue growth of 22% on a currency basis. constants. Although gross margin stood at 61%, down slightly from the previous year due to unfavorable exchange rates and capacity expansions, adjusted profit before tax increased by 21% to €33 million. 'euros.

CEO Oliver Reichert highlights the resilience of Birkenstock's business model and the continued strong demand for its products. It remains confident in achieving medium-term profitability targets, despite a temporary impact on profitability due to strategic investments for future growth.

Birkenstock continues to see strong revenue growth across all regions, with notable increases in the Americas, Europe and the APMA region. This growth comes mainly from the expansion of product categories and new production capacities.

This article is based solely on Birkenstock's first quarter fiscal 2024 financial release.