Adidas reported net sales grew 11 percent in the fourth quarter to 6.08 billion euros, continuing its double-digit streak.
That resulted in a net sales increase of 13 percent, on a currency neutral basis, for full-year 2025, and a sales tally of 24.81 billion euros.
“Driving double-digit growth in the fourth quarter despite all the external turbulence, and more than doubling our operating profit in the quarter made the year end very well,” Adidas chief executive Bjorn Gulden said in a statement.
In the fourth quarter, operating profit zoomed 188.4 percent to 164 million. That resulted in an increased operating profit of 2.06 billion euros for the whole year, an increase of 53.8 percent compared to the 2024.
All in all, 2025 had been “much better than we had planned,” added Gulden, who took on the top job at Adidas in 2023 and who has since overseen the brand’s recovery after various problems, including the end of the profitable Yeezy line.
On Wednesday morning in Germany, Adidas’ supervisory board extended his contract until 2030.
In 2025, every one of Adidas’ sales territories saw double-digit growth, with sales in the brand’s two largest markets, Europe and North America surging 10 percent on a currency neutral basis.
In Greater China and Japan-South Korea, currency neutral sales rose 13 and 14 percent respectively.
The smaller Latin America and Emerging Markets categories saw the greatest growth in 2025. Sales in Latin America rose 22 percent, currency adjusted, over the course of last year and increased 17 percent in Adidas’ emerging markets.
Footwear sales rose 12 percent, on a currency neutral basis, in 2025 and apparel sales grew 15 percent. That came after apparel had a very successful fourth quarter, with Adidas clothing sales gaining 20 percent over the last three months of 2025.
Adidas’ accessories are still lagging in comparison, with sales only developing by 6 percent last year.
In 2026, with “an environment that is characterized by macroeconomic challenges and elevated uncertainty,” Adidas expects things to slow slightly and forecast that sales would continue to grow but only in the high single digits. That would add another 2 billion euros in revenue. Operating profit is expected to come in at around 2.3 billion this year.
The German brand also offered a positive mid-term forecast. “For 2027 and 2028 we expect to continue to take market share, grow sales at a high single-digit rate and deliver an operating margin of more than 10 percent in 2028,” Gulden said in his statement.
