adidas: revenues of €23.683bn (+10.5%) & an operating profit of €1.337bn in 2024

adidas AG posted revenues of €23.683bn for the 2024 financial year (01/01 to 31/12/2024), up 10.5% on 2023 (€21.427bn), announced the German equipment manufacturer, which presented its "preliminary unaudited numbers" for 2024 on 21/01/2025. These figures are subject to adjustment between now and 05/03/2025, when adidas publishes its Annual Report 2024. The German group's revenues fell by 5% between 2022 and 2023.

• adidas posted an operating profit of €1.337bn in 2024, compared with €268m in 2023 (nearly +400%);
• "The company's gross margin improved by 3.3 percentage points to 50.8% in 2024 (2023: 47.5%)";
• "Excluding Yeezy (the brand of artist Kanye West known as "Ye", with whom adidas has terminated its contract) sales in both years, currency-neutral revenues increased 13%," said adidas. The German group terminated its partnership with Kanye West in 2022 due to anti-Semitic remarks made by the artist, leaving €500m of unsold Yeezy brand products. The two parties agreed to an amicable settlement "without financial exchanges" on 29/10/2024.

"We grew double-digit in 2024 (+12…