Birkenstock Projects Cautious FY24 Outlook

(RTTNews) - Birkenstock Holding plc (BIRK) reported its first quarterly results after recently going public.

Despite strong sales figures, the company has given a cautious outlook for 2024, stating that it expects a "modest headwind" to impact its margins due to the costs associated with expanding and ramping up its business operations.

For the fourth quarter, Birkenstock reported sales of 374.54 million euros (or $407.7 million), which beat analysts' expectations of $390.98 million. The adjusted profit per share of 0.14 euros missed estimates of 0.17 euros.

Looking forward, Birkenstock has projected its 2024 revenues to be between 1.74 billion euros to 1.76 billion euros, which represents a growth of around 17% to 18% compared to the previous year. The company has also announced its plans to invest 150 million euros into growing its production capacity and expanding its retail stores in the coming year.