Adidas saw its revenue for 2024 increase 11 per cent year-over-year (YoY) to €23.69 billion (US$24.71 billion), though chief executive Bjørn Gulden has said the German sportswear giant still has “a lot to improve”.
This is the latest set of ‘better-than-expected’ results reported by Adidas, after the company saw revenue rise seven per cent to €6.44 billion (US$6.72 billion) for the third quarter of 2024.
Looking ahead, Adidas is optimistic about the potential to increase its market share worldwide and improve operating profit, despite citing macroeconomic uncertainty.
“I am very pleased the way the fourth quarter and the full year developed for us at Adidas,” said Gulden. “19 per cent currency-neutral growth (+24 per cent reported) in a quarter that in general was difficult for the trade underlines the strong momentum we currently see for our brand and our products.
“We clearly see that consumers’ and retailers’ interest in our products is growing across both lifestyle and performance. Strong growth across all regions and divisions proves the good job our teams are doing across regions and functions.
He continued: “So although we are not yet where we want to be long term, I am very happy with this development which was much better than we had expected. We still have a lot to improve but I am very proud of what our teams and people have achieved in 2024.”
By SportsProMedia
