In the fourth quarter of 2024, Adidas’ constant currency sales increased 19%. In euros, the company’s sales improved by 24% to 5.9 billion euros (2023: 4.8 billion). Excluding Yeezy sales in both years, currency-neutral sales rose 18%. The company’s gross margin increased by 5.2 percentage points to 49.8% (2023: 44.6%). The operating result in the fourth quarter amounted to 57 million euros (2023: negative operating result of 377 million euros).
The full year 2024 is also characterized by positive developments: based on preliminary, unaudited figures, the company’s currency-adjusted sales increased by 12%. In euros, sales for 2024 improved by 11% compared to the previous year to 23.6 billion euros (2023: 21.5 billion). Excluding Yeezy sales in both years, currency-neutral sales rose 13%. The company’s gross margin increased by 3.3 percentage points to 50.8% in 2024 (2023: 47.5%) and operating profit for the full year improved by more than 1 billion euros to 1.3 billion euros ( 2023: 268 million euros).
Adidas CEO Björn Gulden explains: “I am very pleased with how the fourth quarter and the full year developed for Adidas. 19% constant currency growth (+24% in euros) in a quarter that was difficult for retail in general, underlines the strong momentum we are currently seeing for our brand and products. We can clearly see that consumer and retailer interest in our products in both the lifestyle and performance sectors is growing. The strong growth in all regions and product areas is evidence of the good work that our teams are doing in all regions and functions.” The company sees potential to increase market share in all markets. “There is great macroeconomic uncertainty at the moment, but we clearly have the goal of achieving double-digit growth again with the Adidas brand. We want to use this growth to further improve our operating result and get even closer to our margin target of 10%.”
The final financial results for the 2024 fiscal year and a financial forecast for 2025 are scheduled to be announced on March 5, 2025.
