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%), while operating profit reached 57 million euros in the quarter (2023: operating loss of 377 million euros).
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 euros in 2024 (2023: 21,427 million euros). 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 euros to 1,337 million (2023: 268 million euros).
“I am very pleased the way the fourth quarter and the full year developed for us at adidas,” says adidas CEO Bjørn Gulden. “19% currency-neutral growth (+24% reported) in a quarter that in general was difficult for the trade underlines the strong momentum we currently see for our brand and our products. We clearly see that consumers’ and retailers’ interest in our products is growing across both Lifestyle and Performance. Strong growth across all regions and divisions proves the good job our teams are doing across regions and functions.”
“We also feel good about the future, and we see potential to increase our market share in all markets,” he adds. ” 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% margin target.”
