Birkenstock on Thursday beat holiday quarter revenue expectations, reporting a 26% year-on-year jump, as the German sandal company benefited from higher pricing and rising U.S. demand.
Adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) rose 12% year-on-year to 81 million euros, with an adjusted EBITDA margin of 26.9%, down from 29.1% a year earlier.
"However, in the medium-term, we are confident we will continue to deliver our objectives of a gross profit margin over 60% and an adjusted EBITDA margin in the low thirties percent."
Within a few years, its sales nearly doubled and its market cap is now around $9.7 billion, double its 2021 valuation of $4.85 billion.
Since going public, Birkenstock has used some of its proceeds to pay down debt.
Persons:
Oliver Reichert, Reichert, Armour, Birkenstock, Johann Adam Birkenstock
Organizations:
LSEG, New York Stock Exchange, Nike, Catterton
Locations:
North America, Birkenstock