Adidas reports full-year 2024 revenue of EUR 23.68 billion

Recently, Adidas released its Q4 and full-year 2024 financial results. The report showed that Adidas' global revenue for the full year 2024 was EUR 23.683 billion, a 12% increase compared to the previous year on a currency-neutral basis (hereinafter the same). During the same period, the company's operating profit increased by over EUR 1 billion to EUR 1.337 billion. The gross margin also improved by 3.3 percentage points year-over-year to 50.8%.

In the fourth quarter of 2024, Adidas achieved global revenue of EUR 5.965 billion, a year-on-year increase of 19%. The company's gross margin continued to improve strongly, increasing by 5.2 percentage points year-on-year to 49.8%.

Adidas CEO Bjørn Gulden said, "Our performance in the fourth quarter and full year 2024 was satisfying. We achieved double-digit growth in 2024, with continued growing interest from consumers and retailers in our sports performance and sports fashion products. This is thanks to our commitment to serving local markets in a way that suits local consumers. We are full of confidence for the future and see growth potential in all markets. With trendsetting product lines and a more flexible, more localized strategy, Adidas is expected to continue to increase brand heat globally and move towards becoming a healthier company."

It is worth mentioning that as one of Adidas' most important strategic markets, Greater China achieved "quality growth" for seven consecutive quarters, with full-year revenue returning to double-digit growth. The financial report shows that in the fourth quarter of 2024, Adidas' revenue in Greater China was EUR 794 million, a year-on-year increase of 16.1%. The full-year revenue was EUR 3.459 billion, a year-on-year increase of 10.3%.