Adidas reports record revenues in ‘better than expected’ year
Adidas has reported a full year operating profit increase of more than €700 million (£606.4 milion) to €2.05 billion (£1.77 billion) in its preliminary results for the 2025 financial year.
In euro terms, revenues reached a record €24.8 billion (£21.4 billion ) versus €23.6 billion (£20.4 billion) in 2024.
Revenues for the Adidas brand increased 13% for the second consecutive year, driven by double-digit growth in all markets and channels.
Adidas CEO, Bjørn Gulden, said: “I am again very proud what our people have achieved. 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 and made 2025 much better than we had planned and expected when the year started.
“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.
“The gross margin of 51.6% (without Yeezy) is historically high and underlines this performance and the strength of our brand.”
Given this brand momentum, Adidas has decided to launch a share buyback, starting in early February 2026. The company plans to buy back shares worth up to €1 billion in 2026.
Gulden added: “Our confidence in Adidas’ future top and bottom-line growth and cash flow generation is also the reason why we now have decided to launch a share buyback.
“Now we look forward to great Olympic and Paralympic Winter Games in Italy starting next week, and we continue to prepare for a fantastic FIFA World Cup in the summer.”
Looking ahead, Adidas will aim to boost sales with the upcoming launch of its footwear collection in collaboration with content creator-turned-fashion mogul Molly-Mae Hague.
Hague’s involvement reflects the brand's strategy of partnering with digitally active talent who can provide both audience reach and commercial impact.
