Adidas today unveiled its preliminary financial results for Q4 and the full year of 2024, showcasing impressive growth. In the fourth quarter, currency-neutral revenues increased 19 per cent, while euro-denominated revenues rose 24 per cent to €5,965 million, compared to €4,812 million in 2023.

Excluding Yeezy sales, currency-neutral growth remained robust at 18 per cent. The gross margin climbed by 5.2 percentage points to 49.8 per cent, and the company achieved an operating profit of €57 million, a significant turnaround from the €377 million operating loss in Q4 2023.

For the full year 2024, currency-neutral revenues increased by 12 per cent, with euro-denominated revenues growing 11 per cent to €23,683 million, up from €21,427 million in 2023. Excluding Yeezy sales, currency-neutral revenues rose 13 per cent. The gross margin improved by 3.3 percentage points to 50.8 per cent, and operating profit exceeded €1.3 billion, compared to €268 million in 2023.

CEO Bjorn Gulden expressed optimism, highlighting the brand's double-digit growth and rising consumer demand across Lifestyle and Performance segments. "While we’re not yet at our long-term target, our achievements in 2024 exceeded expectations. We’re confident about increasing market share and further improving profitability amid macroeconomic challenges," he stated.

Adidas plans to sustain its momentum, aiming for double-digit growth in 2025 and progressing towards its 10 per cent margin goal. The company will release its final 2024 financials and 2025 guidance on March 5, 2025.