Adidas posts strong revenue and profit growth in Q4

Fourth quarter revenues at German sportswear brand Adidas increased by 19 percent, while in euro terms, the revenues grew 24 percent to 6 billion euros. Excluding Yeezy sales in both years, currency-neutral revenues increased 18 percent.

The company’s gross margin for the quarter increased 5.2 percentage points to 49.8 percent. Operating profit reached 57 million euros in the quarter.

Based on preliminary unaudited numbers for the full year, the company’s currency-neutral revenues were up 12 percent. In euro terms, revenues increased 11 percent to 24 billion euros in 2024. Excluding Yeezy sales in both years, currency-neutral revenues increased 13 percent.

Adidas added that gross margin improved by 3.3 percentage points to 50.8 percent in 2024, while full-year operating profit increased by over 1 billion euros to 1.3 billion euros.

Commenting on the preliminary update, Adidas CEO Bjørn Gulden said: “I am very pleased with the way the fourth quarter and the full year developed for us at Adidas. We clearly see that consumers’ and retailers’ interest in our products is growing across both lifestyle and performance.”

“There is a lot of macroeconomic uncertainty right now, but we clearly have the goal to again grow double-digit with the Adidas brand and use that growth to continue to improve our operating profit and make further progress towards our 10 percent margin target.”

Adidas will publish its final set of financial results for 2024 and issue financial guidance for 2025 on March 5, 2025.