Double-digit growth for adidas
Sportswear manufacturer adidas reported a 19% year-over-year (y/y) increase in Q4 2024 currency-neutral revenues, or 18% excluding Yeezy sales.
Revenue grew 24% to €5.97 billion, with the gross margin rising to 49.8%, up from 44.6% in Q4 2023. Operating profit reached €57 million, recovering from a €377 million loss in the prior year.
For the full year, currency-neutral revenues increased 12% y/y, or 13% excluding Yeezy sales. Euro-denominated revenue rose 11% to €23.7 billion. The gross margin improved to 50.8%, and operating profit surged to €1.34 billion from €268 million in 2023.
CEO Bjørn Gulden highlighted strong brand momentum, broad growth across categories and regions, and a focus on further improving profitability amid ongoing economic uncertainty.
