“Although we are not yet where we want to be in the long term, it was a very successful year that confirmed the strength of the adidas brand, the potential of our company and the fantastic job that our teams did. There is still a lot that we have to improve, but I am very proud of what our people achieved in 2024, ”adidas-CEO Bjørn Gulden summarizes the results of the financial year in the balance sheet. The currency -adjusted turnover has increased by 12%, much more than forecast. A medium single -digit growth was initially expected, in the meantime the forecast was corrected to 10%. In euros, sales rose by 11% from EUR 21.4 billion to EUR 23.7 billion. Shoes in particular were a growth charm. Current -adjusted with shoes were implemented 17%more than in 2023. Turnover in clothing rose 6%, sales in the area of accessories by 2%. Current-adjusted sales in wholesale increased by 14%, sales in the D2C business by 11% (16% without settlement of Yeezy products). In Europe, currency -adjusted sales rose by 19%, in China by 10%, in the emerging markets by 19%, in Japan and South Korea by 10%and 28%in Latin America. In North America, sales decreased to 2%, which goes back to the significantly lower Yeezy sales.
The gross margin has improved by 3.3 percentage points from 47.5% to 50.8%. Negative currency effects had a negative impact on the gross margin, falling freight and product costs positive. The operating result rose by more than 1 billion euros from EUR 268 million to EUR 1.3 billion. The proportion of the remaining Yeezy stock has dropped from around EUR 300 million to around 200 million euros. The operational margin was 5.6% in 2024 and thus 4.4 percentage points above the previous year’s value of 1.3%. The profit from continued business areas was EUR 824 million last year. In the previous year there was a loss of 58 million euros. Both the unwassed and the diluted profit per share was 4.24 euros. In the previous year there was a loss of 0.67 euros.
In the 2025 financial year, Adidas expects currency -adjusted growth in the high single -digit range. The operating result should continue to grow to EUR 1.7 billion to EUR 1.8 billion. After the sale of the remaining Yeezy stocks was completed in 2024, there are no sales with Yeezy products in 2025 (2024: around 650 million euros) or profits (2024: around 200 million euros).
