adidas today, 4th quarter of 2024. Fourth-quarter constant currency revenue increased 19%. In euro terms, the company’s revenue increased by 24% to €5,965 million (2023: €4,812 million). Excluding Yeezy sales in both years, currency-neutral revenue increased 18%. The company’s gross profit margin increased by 5.2 percentage points to 49.8% (2023: 44.6%). Operating profit for the quarter amounted to 57 million euros (2023: operating loss 377 million euros).
Based on preliminary unaudited figures. Full year 2024the company’s currency-neutral revenue rose 12%. In euro terms, revenue increased by 11% year-on-year, reaching €23,683 million in 2024 (2023: €21,427 million). Excluding Yeezy sales in both years, currency-neutral revenue increased 13%. The company’s gross profit margin improved by 3.3 percentage points in 2024 to 50.8% (2023: 47.5%), and full-year operating profit increased by more than EUR 1 billion to EUR 1,337 million (2023: 268 million). euro).
Adidas CEO Bjorn Gulden:
“We are very pleased with the fourth quarter and full year development at Adidas. 19% currency-neutral growth (reported +24%) in what was generally a difficult quarter for trade highlights the strong momentum we are currently seeing for our brands and products. It is clear that consumer and retailer interest in our products is growing across both lifestyle and performance. Our strong growth across sectors is a testament to the great work our teams do across geographies and sectors.
The company achieved double-digit growth in 2024 (+12% at constant currency), with operating profit for the year improving by more than 1 billion euros to 1,337 million euros. So, although we are not yet where we want to be in the long term, we are very happy with this development, which is much better than we expected. Although we still have much to improve, I am extremely proud of what our team and employees accomplished in 2024.
We are also happy about the future and believe we have the potential to increase our market share in all markets. Although there is currently a lot of macroeconomic uncertainty, we have once again achieved double-digit growth in the Adidas brand and are using that growth to continue to improve operating margins and reach our 10% margin target. We have a clear goal to move forward towards. ”
Adidas plans to release final 2024 financial results and 2025 financial guidance on March 5, 2025.
