Germany · Delayed Price · Currency is EUR adidas AG Earnings Call Transcripts
Fiscal Year 2026
-
Double-digit growth, record margins, and strong profitability were achieved, with increased dividends and a major share buyback announced. Regional empowerment, innovation, and ESG progress were emphasized, while leadership transitions and ongoing global risks were addressed.
-
Q1 delivered 14% revenue growth and a EUR 705 million operating profit, driven by strong D2C and performance categories, despite FX and tariff headwinds. Guidance for the year is maintained, with continued investment in innovation and marketing, and a focus on long-term EBIT margin expansion.
Fiscal Year 2025
-
Delivered 13% currency-neutral growth and record gross margin in 2025, with strong double-digit gains across all regions and channels. 2026 guidance targets high single-digit growth and EUR 2.3 billion EBIT, despite FX and tariff headwinds. Robust innovation, capital returns, and local market execution underpin confidence through 2028.
-
Double-digit growth and margin expansion were delivered in Q2 and H1 2025, with strong performance across all regions and channels. Despite €200 million in expected tariff headwinds, guidance for double-digit growth and €1.7–1.8 billion EBIT is reaffirmed.
Fiscal Year 2024
-
2024 saw 12% currency-neutral sales growth, a 330 bps gross margin increase, and EBIT up 400% to EUR 1.3 billion. Double-digit Q4 growth was broad-based, with strong order books and positive momentum into 2025. Guidance targets EUR 1.7–1.8 billion EBIT and further margin expansion.
-
Q3 2024 saw 10% revenue growth and a 51.3% gross margin, with EBIT up nearly 50% year-over-year. Strong regional and category performance, disciplined inventory, and a robust balance sheet support a raised full-year EBIT outlook to €1.2 billion.