adidas finishes successful year with better-than-expected fourth quarter results

FOR IMMEDIATE RELEASE

Herzogenaurach, January 21, 2025

adidas finishes successful year with better-than-expected fourth quarter results

adidas today announced preliminary results for the fourth quarter of 2024. In Q4, currency-neutral revenues increased 19%. In euro terms, the company’s revenues grew 24% to € 5,965 million (2023: € 4,812 million). Excluding Yeezy sales in both years, currency-neutral revenues increased 18%. The company’s gross margin increased 5.2 percentage points to 49.8% (2023: 44.6%). Operating profit reached € 57 million in the quarter (2023: operating loss of € 377 million).

Based on preliminary unaudited numbers for the full year of 2024, the company’s currency-neutral revenues were up 12%. In euro terms, revenues increased 11% versus the prior year and reached € 23,683 million in 2024 (2023: € 21,427 million). Excluding Yeezy sales in both years, currency-neutral revenues increased 13%. The company’s gross margin improved by 3.3 percentage points to 50.8% in 2024 (2023: 47.5%), while full-year operating profit increased by more than € 1 billion to € 1,337 million (2023: € 268 million).

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

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For more information, please visit adidas-group.com.

adidas uses alternative performance measures (APM) in its regulatory and mandatory publications that may represent so-called non-GAAP measures. An overview of these APMs can be found at adidas-group.com/financial-publications.