Birkenstock Holding plc (NYSE: BIRK), the leading luxury footwear brand, witnessed its stock soar 5% in the pre-market trading session on Friday, following the release of its impressive full-year 2024 financial results.
The company reported a remarkable 21% year-over-year increase in revenue, reaching €1.80 billion, driven by strong demand for its iconic sandals and footwear products. Notably, Birkenstock's net income skyrocketed by 155% to €191.6 million, reflecting a significant improvement in profitability. The company's profit margin also expanded from 5% to 11%, indicating enhanced operational efficiency.
Birkenstock's earnings per share (EPS) surpassed analyst expectations, climbing to €1.02 from €0.41 in the previous year. This stellar performance, coupled with forecasts of a 15% annual revenue growth over the next three years, surpassing the industry average, has bolstered investor confidence in the company's future prospects.
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