adidas: turnover down 16% (€19.8bn) and net profit down 78% (€429m) in 2020

adidas Group has posted a turnover of €19.84bn for the financial year 2020 (01/01 to 31/12/2020) hit by the Covid-19 pandemic, down 16% versus 2019 (€23.6bn) at constant perimeter, announced the German equipment manufacturer on 10/03/2021.

adidas posted an operating profit of €751m, down 71.7% compared to 2019 (€2.6bn). The group's net profit fell by 78%, from €1.97bn to €429m over the year. EBITA is also down (-46%) to €2bn.

In 2020, the adidas brand represented 92.7% of the group's sales (as in 2019). "Currency-neutral revenues for the adidas brand decreased 13%, with double-digit sales declines in both Sport Inspired and Sport Performance. In euro terms, adidas brand revenues were down 16% to €18.095bn compared to €21.505bn in 2019. Currency-neutral Reebok brand sales decreased 16% versus the prior year, as revenues declined at double-digit rates in both Sport and Classics. In euro terms, Reebok sales decreased 19% to €1.409bn (2019: €1.748bn)," said the manufacturer.

From a market perspective, sales decreased in all sectors and across all three product types (footwear, clothing…