Birkenstock Holding (NYSE:BIRK) has announced a record-setting performance for the second quarter of fiscal year 2024, with revenue reaching €481 million, marking a 22% increase on a reported basis and 23% on a constant currency basis.

In a detailed breakdown, the company highlighted revenue increases of 21% in both the Americas and Europe, and an impressive 42% in the Asia-Pacific, Middle East, and Africa (APMA) region, all on a constant currency basis.

Direct-to-consumer (DTC) channels saw a robust 32% revenue growth, while business-to-business (B2B) sectors posted a 20% increase.

Despite these strong revenue numbers, the company faced a squeeze in gross profit margins, which declined by 320 basis points from 59.5% to 56.3%.

This drop was attributed primarily to temporary factors such as production capacity expansions, inflation-related wage adjustments, and one-time bonuses for employees.

Net profit for the quarter stood at €72 million, a 45% increase from €49 million in the same period last year.

Earnings per share (EPS) also rose by 41%, from €0.27 to €0.38.

Buoyed by the robust performance in the first half of fiscal 2024 and sustained demand, Birkenstock has revised its revenue growth outlook for the fiscal year upwards to 20% in constant currency, from an earlier forecast of 17-18%.

The company also anticipates an adjusted EBITDA margin between 30-30.5%.