For the fourth quarter of 2024, Adidas reported “better than expected” sales results, with revenues rising 24 per cent year over year to US $ 6.2 billion.
Currency-neutral revenues rose 18 per cent in the quarter, excluding Yeezy sales in both years. The company’s gross margin increased to 49.8 per cent, a 5.2 per cent increase. In Q4 of 2023, operating profit was US $ 59.5 million, while operating loss was US $ 394.3 million.
The company’s currency-neutral revenues increased by 12 per cent in 2024, according to preliminary unaudited figures for the entire year. Compared to the previous year, revenues climbed 11 per cent to US $ 24.8 billion in 2024 from US $ 22.4 billion the year before.
Currency-neutral revenues rose 13 per cent in both years when Yeezy sales were excluded. The company’s full-year operating profit soared from US $ 287.7 million to US $ 1.39 billion, while its gross margin increased 3.3 per cent to 50.8 per cent.
It is evident that our products are becoming more and more popular with retailers and consumers in terms of both performance and lifestyle. Strong growth in every division and location demonstrates how well our teams are performing across all functions and regions, said Adidas CEO, Bjørn Gulden.
