Adidas reports prelininary Q4 revenue EUR 5.97B vs. EUR 4.81B last year

In Q4, currency-neutral revenues increased 19%. Excluding Yeezy sales in both years, currency-neutral revenues increased 18%. The company’s gross margin increased 5.2 percentage points to 49.8% vs. 44.6% last year. Operating profit reached EUR 57M in the quarter vs. (EUR 377M) last year. CEO Bjorn Gulden said: “”I am very pleased the way the fourth quarter and the full year developed for us at adidas (ADDYY). 19% currency-neutral growth (+24% reported) in a quarter that in general was difficult for the trade underlines the strong momentum we currently see for our brand and our products. We clearly see that consumers’ and retailers’ interest in our products is growing across both Lifestyle and Performance. Strong growth across all regions and divisions proves the good job our teams are doing across regions and functions… There is a lot of macroeconomic uncertainty right now, but we clearly have the goal to again grow double-digit with the adidas brand and use that growth to continue to improve our operating profit and make further progress towards our 10% margin target.”