Oct. 29 at 12:43 PM
Adidas reported a significant increase in net profit for the year, reaching €1.259 billion by September, marking a 56.7% rise compared to the previous year. This growth was driven by a rise in sales, with the company reporting a 5.7% increase in revenue over the first three quarters, totaling €18.735 billion.
Sales rose across all regions, with notable growth in Europe (+9%), China (+4%), and Latin America (+6%). Adidas' footwear sales saw a 4% increase, while apparel sales rose by 10%.
Operating profit also surged by 47.9%, reaching €1.892 billion, reflecting an improvement in the operating profit margin to 10.1%, up from 7.2% the previous year. This improvement showcases the company's ability to manage costs and increase profitability amid global challenges.
Adidas CEO Bjørn Gulden expressed pride in the results, especially the 12% growth in revenue from the Adidas brand in the third quarter, which contributed to a record high quarterly revenue of €6.63 billion.
$ADDYY