The sales of the Adidas brand increased currency -adjusted by 12 %, supported by strong demand in all product categories, sales channels and regions of the world. Without the sales from the Yeezy business (around 200 million euros) contained in the previous year, a reported increase in sales results.
Overall, the company generated sales of around 6 billion euros in the second quarter – an increase of 2 % compared to the previous year. Negative exchange rate developments burdened the turned out sales with around EUR 300 million.
Despite these currency influences, the gross margin improved by 0.9 percentage points to 51.7 %. The operational result rose by 58 % to 546 million euros. The operational margin climbed to 9.2 % (previous year: 5.9 %). The profit from continued business areas rose significantly by 77 % to EUR 375 million.
Also in the first half of the year, Adidas was able to continue the positive dynamic: the brand -adjusted turnover of the brand rose by 14 % (without Yeezy), the group turnover reached EUR 12.1 billion – an increase of 7 % in euros. The operating result rose by 70 % to EUR 1.2 billion, which corresponds to an operational margin of 9.6 %. The half -year profit from continued business areas doubled to EUR 811 million.
CEO Bjørn Gulden was satisfied with the development: “I am very satisfied and once more proud of what our team did both in the second quarter and in the first half of 2025. We have grown continuously in the double -digit percentage range and have completed the first half of the year with growth of 14 % for the adidas brand.”
Particularly strong growth impulses came from the areas of running (+25 %), clothing (+17 %) and performance basketball in the second quarter. Regionally, Adidas increased primarily in Latin America (+23 %), North America (+15 %) and Japan/South Korea (+15 %). In addition, increases were also recorded in Europe (+7 %) and China (+11 %).
In view of the year as a whole, the company is carefully optimistic despite increasing geopolitical and economic uncertainties. Adidas continues to expect an operating result between 1.7 and 1.8 billion euros and a currency -adjusted sales growth in the high single -digit percentage range. Strains could arise in particular from new US tariffs, which could cost up to 200 million euros in the further course of the year alone.
