adidas: financial forecast for 2025 revised upwards after posting revenues up 14% in 9 months

adidas AG posted revenues of €18.7bn for the first three quarters of 2025 (01/01 to 30/09/2025), up 6% in euros (2024: €17.7bn) and up 14% "on a currency-neutral basis", which had "an unfavorable translation impact," announced the German group on 29/10/2025.

The adidas brand posted double-digit growth in all markets (on a currency-neutral basis): +11% in Europe, +12% in the United States, +12% in "Greater China", +24% in Latin America, +14% in Japan/South Korea and +17% in emerging markets.

Net profit rose by 52% compared with the first nine months of 2024, to €1.29bn (2024: €851m). The group's gross margin rose by 0.8% to 51.9% (2024: 51.1%) in the first nine months of the year.

As a result, the group's operating profit rose by 48% to €1.89bn (2024: €1.28bn), for an operating margin of 10.1%, up 2.9% on 2024 (7.2%).

Unlike its German competitor Puma, which has revised its financial forecasts for the rest of 2025 downwards after posting a loss of €308.9m over nine months, adidas is raising its annual forecasts. "Currency-neutral revenues are now expected to increase by around 9%. The…