Investing.com — adidas released preliminary results for Q4 2024, revealing a 19% increase in net income. When translated into euros, the company's quarterly revenue grew by 24% to 5,965 million dollars, from 4,812 million in 2023. The company's gross margin also increased, rising 5.2 percentage points to 49.8%, from 44.6% in 2023. The operating profit for the quarter was 57 million euros, a significant improvement on the 377 million operating loss in 2023.
Looking ahead to the full year 2024, adidas' cash-neutral revenue increased by 12%. In euro terms, this translates into an 11% increase from last year, reaching 23,683 billion, compared to 21,427 billion in 2023. When Yeezy sales are excluded, currency-neutral revenues show growth of 13%. The company's annual revenue improved by 3.3 percentage points to 50.8%, from 47.5% in 2023. The annual operating profit saw an increase of €1 billion, reaching 1,337 million, from 268 billion in 2023. .
adidas CEO Bjørn Gulden expressed his satisfaction with the company's performance in the fourth quarter and throughout 2024. He also acknowledged significant growth in all regions and divisions, including them in the efforts of their teams.
While Gulden said the company is not yet where it wants to be in the long term, he expressed happiness with the development, which exceeded their expectations. He also expressed optimism for the future, stating that adidas sees potential to increase market share in all markets. Despite the current macroeconomic uncertainty, the company aims to drive double-digit growth with the adidas brand and improve operating profit further, with the aim of advancing to the 10% target.
adidas plans to publish its final financial results for 2024 and provide financial guidance for 2025 on March 5, 2025.
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