The German sportswear giant posted revenues of €24.8 billion, up 13% on a currency-neutral basis, while operating profit jumped 54% to €2.06 billion. Net income rose nearly 70% to €1.38 billion, reflecting what CEO Bjørn Gulden described as “quality growth” supported by strong full-price sales and improved margins.
Growth was broad-based, with double-digit increases across all markets and channels. Apparel sales rose 15% and footwear climbed 12%, while direct-to-consumer sales continued to outperform, highlighting Adidas’ focus on closer consumer engagement.
The company also saw profitability gains, with gross margin improving to 51.6% and operating margin reaching 8.3%.
Looking ahead, Adidas expects continued momentum in 2026, forecasting high-single-digit revenue growth and operating profit of around €2.3 billion despite headwinds from U.S. tariffs and currency pressures.
The strong performance has prompted Adidas to increase its dividend by 40% and launch a share buyback programme of up to €1 billion, signalling confidence in sustained growth and cash generation.
