Companies

adidas posts record 2025 revenue

Mar 11, 2026 Germany

The Germany-based group has reported a record revenue in 2025, driven by double-digit growth key product categories and markets. Despite tariffs and currency headwinds, continued growth is expected ahead

“I am again very proud of what our people have achieved (…). The double-digit growth in all markets and all channels is of course very pleasing, but even more important is that this is quality growth. Our markets have been very good at managing that the right product in the right amount has been sold in their markets and that we have managed to keep full-price sell-throughs high and discounts under control”, said adidas CEO Bjørn Gulden.

In the 2025 financial year, the company’s revenue increased by 13% on a currency-neutral basis, as compared to the previous year, marking the second consecutive year of double-digit growth. Reported revenue increased by 5% to a record 24.8 billion euros, despite a headwind of more than 1 billion euros. These figures included no Yeezy sales, as the company exited the line in 2024.

In the fourth quarter alone, adidas’ revenue increased year-on-year by 11% on a currency-neutral basis, or by 10% when the prior-year Yeezy contribution is included. Reported revenue totalled 6.1 billion euros, despite a foreign exchange hit of more than 400 million euros from the stronger euro.

Product Category

In the last financial year, the company’s revenue from footwear grew by 12% on a currency-neutral basis, as compared to 2024. This was driven by a broader product offering across many categories, including running, training, performance basketball and sportswear. Strong growth in the Originals category also contributed to the increase in footwear sales.

Meanwhile, full-year apparel sales increased by 15% year-on-year, as differentiated collections fuelled double-digit growth in major categories such as football, running, training and originals. Accessories revenue increased by 6% year-on-year.

Markets

In full-year 2025, adidas achieved double-digit, currency-neutral sales growth across all markets, driven by market share gains and broad-based strength in both wholesale and direct-to-consumer channels. On a comparable basis to 2024, net sales increased by 10% in both Europe and North America, by 13% in Greater China, by 14% in Japan and South Korea, by 22% in Latin America, and by 17% in Emerging Markets.

Operational Performance

The sportswear company saw its gross profit increase by 6% to 12.8 billion euros in 2025, as compared to the previous year. This lifted the gross margin by 0.8 percentage points to 51.6%. Lower product and freight costs, a better sales mix, and strong full-price sales more than offset currency headwinds and higher US tariffs.

Full-year operating profit increased by 54%, rising from 1.34 billion euros in 2024 to 2.06 billion euros, and the operating margin increased to 8.3%. Net income from continuing operations climbed significantly by 67% year-on-year to 1.38 billion euros, with earnings per share from continuing operations rising by 76% to 7.46 euros.

2026 Outlook

For 2026, adidas expects revenue to grow at a high single-digit rate in local currencies, equivalent to around 2.0 billion euros in additional sales and further market share gains across all markets. Despite a roughly 400 million euros hit by US tariffs and adverse currency movements, operating profit is projected to rise to around 2.3 billion euros.

Image Credits: snkrdunk.com

Germany adidas Companies Quarter Results Results Sportswear