Birkenstock Holdings (BIRK) posted better fourth-quarter results than analysts had expected Wednesday and outlined its expectations for its second full fiscal year as a public company, sending shares higher.
The shoemaker reported profit of 52.5 million euros ($55.1 million) on revenue of 455.8 million euros ($478.2 million). Analysts had expected EUR48 million in net income on revenue of EUR437.2 million, according to estimates compiled by Visible Alpha.
Full-year revenue of EUR1.80 billion grew 21% from fiscal 2023. Chief Executive Officer (CEO) Oliver Reichert said Birkenstock is "delivering" on the expansion opportunities it identified ahead of its initial public offering (IPO) in October 2023.
Birkenstock said it expects constant-currency revenue growth of 15% to 17% in fiscal 2025, and said it expects gross profit margins to improve after taking a step back this year as its investments into new production capacity start to take effect.
Birkenstock shares, which had risen 15% this year through Tuesday's close, gained another 5% in premarket trading.
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