Adidas posts solid growth in fourth quarter, looks to expand market share – adidas (OTC:ADDYY)

German sportswear brand adidas adyi Announced preliminary results for the fourth quarter of 2024.

In neutral currency terms, the company’s revenue grew 19% and in euro terms grew 24%, totaling 5.97 billion euros (approximately $6.24 billion). Excluding Yeezy sales in the past two years, the currency-neutral growth rate was 18%.

In addition, the company’s gross profit margin also improved significantly, growing 520 basis points to 49.8% from 44.6% in 2023.

Operating profit in the fourth quarter reached 57 million euros, reversing a loss of 377 million euros in the same quarter last year.

Adidas also reported strong growth for the full year of 2024. Excluding Yeezy sales, the company’s currency-neutral revenue grew 13%.

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The gross profit margin for the year increased by 330 basis points to 50.8%. Operating profit surged by more than 1 billion euros, from 268 million euros in 2023 to 1.34 billion euros in 2024.

“We are clearly seeing growing consumer and retailer interest in our products across both lifestyle and performance categories. Strong growth across all regions and divisions is a testament to the great work our teams are doing across each region and function. Work. Bjorn Goulden.

“We are also optimistic about the future and see the potential to increase our market share in all markets. There is a lot of macroeconomic uncertainty at the moment, but our goal is clearly to get the adidas brand back to double-digit growth again and capitalize on this. This growth continues to improve our operating profit and move us further towards our 10% profit margin target.”

price action: ADDYY shares closed 6.59% higher at $132.22 on Tuesday.

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