CEO Confident in Continued Success Despite Macroeconomic Challenges
- Birkenstock’s revenues increased by 20% to €1.49bn (£1.28bn)
- European sales grew by 18%
- EBITDA rose 11% to €483m (£414m)
- Adjusted EBITDA margin over 30%
- Net profit of €75m (£64.3m) down from previous year’s €187m (£160.5m)
- Adjusted net profit increased to €207m (£177.6m)
- Cash flows from operating activities up 53% to €359m (£308.1m)
- Projected revenues of €1.74bn to €1.76bn for fiscal year 2024
- Adjusted EBITDA margin of approximately 30%
- CEO Oliver Reichert: ‘Most successful year in Birkenstock’s 250-year history’
- Focus on premium quality and expanding into new markets
German footwear company Birkenstock has reported a 20% increase in revenues to €1.49 billion (£1.28bn) for the year ending September 30, 2023, driven by an 18% rise in European sales. The EBITDA also grew by 11% to €483 million (£414m), with an adjusted EBITDA margin of over 30%. Despite a decrease in net profit to €75 million (£64.3m) compared to the previous year, the adjusted net profit increased to €207 million (£177.6m). Cash flows from operating activities rose by 53% to €359 million (£308.1m). Looking forward, Birkenstock anticipates revenues between €1.74 billion (£1.41bn) and €1.76 billion (£1.51bn) for fiscal year 2024, with all segments and channels contributing to growth. The adjusted EBITDA is expected to be in the range of €520 million (£446.3m) to €530 million (£454.9m), resulting in an approximate 30% adjusted EBITDA margin. CEO Oliver Reichert expressed satisfaction with the financial results and the company’s performance, stating that it was the most successful year in its 250-year history and remains committed to delivering uncompromising premium quality while expanding into new markets.
Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about Birkenstock’s financial performance, including revenue growth, EBITDA, net profit, adjusted net profit, and cash flows from operating activities. It also includes a quote from the CEO discussing their future plans for growth and commitment to quality.
Noise Level: 3
Noise Justification: The article provides relevant information about Birkenstock’s financial performance and future expectations, with a brief comment from the CEO on their business model and growth strategy. It stays focused on the topic without diving into unrelated territories and supports its claims with specific numbers and figures.
Financial Relevance: Yes
Financial Markets Impacted: Birkenstock’s stock price may be impacted by its financial performance and future growth expectations
Financial Rating Justification: The article discusses Birkenstock’s financial performance, including revenue, EBITDA, net profit, adjusted EBITDA margin, and growth expectations for the next fiscal year. This information is relevant to investors and could potentially affect the company’s stock price in financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article, but the company reports a successful financial year with increased revenues and profits.
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