Busy business
Adidas with strong growth – forecasts exceeded
The sporting goods manufacturer is making a strong year-end spurt. The Herzogenaurach team had already raised their expectations several times before. And are now doing even better.
The sporting goods company Adidas performed better than expected after a strong final quarter. According to preliminary calculations, sales rose by 24 percent to almost 6 billion euros in the fourth quarter, as the company in Herzogenaurach announced.
Analysts surveyed by Bloomberg had expected 5.35 billion euros. Adjusted for currency effects, growth was 19 percent. The operating result amounted to 57 million euros, after a loss of 377 million euros in the previous year. Here too, analysts expected less.
For the year as a whole, sales rose by 11 percent to around 23.7 billion euros. At 12 percent, currency-adjusted growth was above company expectations. Adidas also performed slightly better than expected in terms of operating profit at 1.3 billion euros.
In the previous year, the company only achieved 268 million euros. The Herzogenaurach-based company, which had already increased its forecast several times last year, exceeded analysts’ expectations.
CEO Björn Gulden was “very satisfied”. “19 percent constant currency growth in a quarter that was difficult for retail in general underlines the strong momentum we are currently seeing for our brand and products,” he commented.
Looking ahead, Gulden said there is potential to increase market share in all markets. “There is great macroeconomic uncertainty at the moment, but we clearly have the goal of achieving double-digit growth again with the Adidas brand.” The operating result should also be improved.
The company plans to present the detailed figures and forecast for 2025 on March 5th.
dpa
Source: Stern
