Birkenstock Financial Report

In the recent fiscal first quarter, Birkenstock stands by its guidance for the current year as it saw a decrease in net loss and an increase in revenue. The German shoe manufacturer reported revenue of 302.9 million euros, up from EUR248.5 million in the same period last year, along with a narrowed net loss to EUR7.15 million from EUR9.2 million.

Strategic Investments Impacting Profitability

Chief Executive Oliver Reichert mentioned that the company's strategic investments aimed at future growth are having a planned, temporary effect on profitability.

Revenue Targets Confirmed for Fiscal 2024

Birkenstock, which recently became publicly listed in New York, confirmed its revenue targets for fiscal 2024 to be in the range of EUR1.74 billion-EUR1.76 billion on a constant currency basis, indicating a revenue growth of 17% to 18% compared to fiscal 2023.

Focus on Profitability

The company also aims for adjusted earnings before interest, taxes, depreciation, and amortization between EUR520 million and EUR530 million on a constant currency basis, with a margin of around 30%.

Mid-term Profitability Goals

Birkenstock remains confident in achieving its mid-term profitability guidance with a goal of a gross profit margin exceeding 60% and an adjusted EBITDA margin in the low thirties.