Adidas has wrapped up 2024 with remarkable financial results, exceeding expectations in the fourth quarter. The sportswear giant has showcased significant growth across revenues and profits, signaling a strong resurgence for the brand in both the Lifestyle and Performance categories.
In the final quarter of 2024, Adidas reported a 19% growth in currency-neutral revenues, while in euro terms, revenues increased by 24% to €5.9 billion, compared to €4.8 billion in the same period of 2023.
Notably, even when excluding the impact of Yeezy sales, currency-neutral revenues climbed by an impressive 18%.
The company’s gross margin expanded by 5.2% points, reaching 49.8%, a significant improvement from 44.6% in 2023. Adidas also achieved an operating profit of €57 million, a sharp turnaround from the €377 million operating loss recorded in the previous year.
For the full year of 2024, Adidas posted currency-neutral revenue growth of 12%, with euro-denominated revenues rising by 11% to €23.6 billion compared to €21.4 billion in 2023.
The company’s gross margin for the year improved by 3.3% points, hitting 50.8%, up from 47.5% in 2023. Furthermore, Adidas’s operating profit skyrocketed by over €1 billion, reaching €1.3 billion, compared to just €268 million in the previous year.
While Adidas acknowledges the macroeconomic uncertainties ahead, the company remains optimistic about its future.
Adidas has set an ambitious goal to achieve double-digit growth once again, improve its operating profit, and move closer to its 10% margin target.
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