EMEA Information

adidas has divided its operating activities into the following segments: EMEA, North America, Greater China, Asia-Pacific, and Latin America.

In 2022, sales in EMEA increased 9% on a currency-neutral basis and 10% in euro terms to € 8,550 million from € 7,760 million in 2021. The currency-neutral increase was driven by a strong double-digit growth in Performance reflecting excellent growth in Football and Running, as well as a strong double-digit increase in Outdoor, and mid-single-digit growth in Training. At the same time, Lifestyle revenues grew at a mid-single-digit rate.

Gross margin in EMEA decreased 0.3 percentage points to 50.5% from 50.8% in 2021. The positive pricing effect and favorable currency fluctuations were more than offset by the significant increase in supply chain costs, higher discounting, and a less favorable market and channel mix. Operating expenses were up 17% to € 2,683 million versus € 2,294 million in 2021, mainly driven by a double-digit increase in operating overheads. As a percentage of sales, operating expenses were up 1.8 percentage points to 31.4% (2021: 29.6%). Operating profit in EMEA improved 1% to € 1,679 million versus € 1,658 million in the prior year. As a result of the lower gross margin and higher operating expenses as a percentage of sales, operating margin was down 1.7 percentage points to 19.6% (2021: 21.4%).