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Home News Germany's Adidas hits $6.2 tn in Q4 2024, up 24% YoY in euro terms

Germany's Adidas hits $6.2 tn in Q4 2024, up 24% YoY in euro terms

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Germany's Adidas hits $6.2 tn in Q4 2024, up 24% YoY in euro terms

Adidas, a German athletic apparel and footwear company, has generated a revenue of €5,965 million (~$6,215.5 million) in euro terms in the fourth quarter (Q4) of 2024, an increase of 24 per cent year-over-year (YoY). The currency-neutral revenues increased by 19 per cent YoY.

The company’s gross margin increased 5.2 percentage points to 49.8 per cent from 44.6 per cent in 2023. The operating profit reached €57 million (~$59.42 million) in the quarter from an operating loss of €377 million in 2023. Excluding Yeezy sales in both years, currency-neutral revenues increased 18 per cent, Adidas said in a press release.

Adidas has reported Q4 2024 revenue of €5,965 million (~$6,215.5 million), up 24 per cent YoY, with currency-neutral growth of 19 per cent.
Gross margin rose to 49.8 per cent, and operating profit reached €57 million (~$59.42 million).
Full-year revenue grew 12 per cent currency-neutral to €23,683 million, with operating profit up €1 billion to €1,337 million.

Based on preliminary unaudited numbers for the full year of 2024, Adidas’s currency-neutral revenues were up 12 per cent. In euro terms, revenues increased 11 per cent versus the prior year and reached € 23,683 million in 2024 (2023: €21,427 million). Excluding Yeezy sales in both years, currency-neutral revenues increased 13 per cent.

The company’s gross margin improved by 3.3 percentage points to 50.8 per cent in 2024, compared to 47.5 per cent in 2023, as per preliminary results. Full-year operating profit increased by more than €1 billion to €1,337 million compared to €268 million in 2023.

“I am very pleased the way the fourth quarter and the full year developed for us at Adidas. 19 per cent currency-neutral growth (+24 per cent reported) in a quarter that in general was difficult for the trade underlines the strong momentum we currently see for our brand and our products. We clearly see that consumers’ and retailers’ interest in our products is growing across both lifestyle and performance. Strong growth across all regions and divisions proves the good job our teams are doing across regions and functions,” said Bjørn Gulden, chief-executive officer (CEO) at Adidas.

“I am very happy with this development which was much better than we had expected. We still have a lot to improve but I am very proud of what our teams and people have achieved in 2024.

“We also feel good about the future, and we see potential to increase our market share in all markets. There is a lot of macroeconomic uncertainty right now, but we clearly have the goal to again grow double-digit with the Adidas brand and use that growth to continue to improve our operating profit and make further progress towards our 10 per cent margin target,” added Gulden.

Fibre2Fashion News Desk (SG)