Adidas delivers record 2025 revenues
Adidas has announced that it delivered record revenues for 2025 and also confirmed that it will launch a share buy-back.
Based on preliminary unaudited numbers for the full year, the sportswear brand has reported that currency-neutral revenues for the Adidas brand increased by 13% for the second consecutive year, driven by double-digit growth in all markets and channels.
Subscribe to TRBRevenues rose to a record level of €24.811 billion from €23.683 billion a year earlier, despite a negative currency translation impact of more than € 1 billion.
In addition, the company’s gross margin improved 0.8 percentage points to 51.6% as it overcame the negative impacts of unfavourable currency developments and higher tariffs.
Meanwhile, full-year operating profit increased by more than €700 million to €2.056 billion.
Looking at the fourth quarter results, currency-neutral revenues for the Adidas brand increased by 11%.
Adidas chief executive Bjørn Gulden said: “I am again very proud what our people have achieved. Driving double-digit growth in the fourth quarter despite all the external turbulence, and more than doubling our operating profit in the quarter made the year end very well and made 2025 much better than we had planned and expected when the year started.
“The double-digit growth in all markets and all channels is of course very pleasing, but even more important is that this is quality growth. Our markets have been very good at managing that the right product in the right amount has been sold in their markets and that we have managed to keep full-price sell-throughs high and discounts under control.”
Following the strong performance, the Adidas executive board has decided to launch a share buyback in early February. Worth up to €1 billion, this will be financed through the company’s anticipated strong cash flow generation, with repurchased shares set to be cancelled.
