Adidas AG Reports Profit In FY24; Net Sales Up 10.5%

(RTTNews) - adidas AG (ADDYY.PK, ADDDF.PK) reported fiscal 2024 net income attributable to shareholders of 764 million euros compared to a loss of 75 million euros, last year. Profit per share from continuing operations was 4.24 euros compared to a loss of 0.67 euros. For the year ending December 31, 2024, net sales were 23.68 billion euros, an increase of 10.5% from last year. Currency-neutral sales increased 12%.

For the fourth quarter, net loss from continuing operations was 27 million euros compared to a net loss of 401 million euros, prior year. Loss per share from continuing operations was 0.26 euros compared to a loss of 2.36 euros. Operating profit was 57 million euros compared to an operating loss of 377 million euros. Net sales were 5.96 billion euros, up 24.0%.

For fiscal 2025, the company expects: currency-neutral revenues to increase at a high-single-digit rate, reflecting continued double-digit growth for the adidas brand; and operating profit to increase to a level of between 1.7 billion and 1.8 billion euros. Currency-neutral revenues increased 19%.

The adidas AG Executive and Supervisory Boards will recommend paying a dividend of 2.00 euros per dividend-entitled share to shareholders at the Annual General Meeting on May 15, 2025.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.