Annual Report 2024

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Consolidated Statement of Cash Flows

adidas AG Consolidated Statement of Cash Flows (IFRS) € in millions1

 

 

Note

 

Year ending Dec. 31, 2024

 

Year ending Dec. 31, 2023

 

 

 

 

 

 

 

Operating activities:

 

 

 

 

 

 

Income before taxes

 

 

 

1,121

 

65

 

 

 

 

 

 

 

Adjustments for:

 

 

 

 

 

 

Depreciation, amortization, and impairment losses

 

09, 10, 11, 12, 30

 

1,208

 

1,212

Reversals of impairment losses

 

09, 10, 30

 

(28)

 

(42)

Interest income

 

32

 

(57)

 

(39)

Interest expense

 

32

 

221

 

162

Unrealized foreign exchange (gains)/losses, net

 

 

 

(19)

 

88

Losses on sale of property, plant, and equipment and intangible assets, net

 

 

 

17

 

20

Other non-cash effects from operating activities

 

29, 30

 

(10)

 

(8)

Operating profit before working capital changes

 

 

 

2,453

 

1,458

(Increase)/Decrease in receivables and other assets

 

 

 

(839)

 

996

(Increase)/Decrease in inventories

 

 

 

(500)

 

1,280

Increase/(Decrease) in accounts payable and other liabilities

 

 

 

2,024

 

(857)

Net cash generated from operations before taxes

 

 

 

3,138

 

2,876

Income taxes paid

 

 

 

(236)

 

(307)

IAS 29 Hyperinflation effects in operating cash flow

 

 

 

9

 

(19)

Net cash generated from operating activities

 

 

 

2,910

 

2,550

 

 

 

 

 

 

 

Investing activities:

 

 

 

 

 

 

Purchase of other intangible assets

 

12

 

(121)

 

(141)

Proceeds from sale of other intangible assets

 

 

 

–

 

1

Purchase of property, plant, and equipment

 

09

 

(419)

 

(363)

Proceeds from sale of property, plant, and equipment

 

 

 

49

 

9

Proceeds from sale of a disposal group from prior years

 

03

 

100

 

–

Reimbursement from disposal of discontinued operations

 

 

 

–

 

(19)

Proceeds from sale/(Purchase of) short-term financial assets

 

 

 

28

 

(34)

(Purchase of)/Proceeds from investments and other long-term assets

 

 

 

(50)

 

57

Interest received

 

 

 

57

 

39

Net cash used in investing activities

 

 

 

(356)

 

(451)

 

 

 

 

 

 

 

Financing activities:

 

 

 

 

 

 

Repayment of eurobonds

 

16

 

(500)

 

(500)

Interest paid

 

 

 

(217)

 

(163)

Repayments of lease liabilities

 

19

 

(656)

 

(603)

Dividend paid to shareholders of adidas AG

 

25

 

(125)

 

(125)

Dividend paid to non-controlling interest shareholders

 

27

 

(40)

 

(33)

Repurchase of treasury shares due to share-based payments

 

26

 

(35)

 

(29)

Proceeds from reissuance of treasury shares due to share-based payments

 

26

 

24

 

25

Proceeds from short-term borrowings

 

16

 

3

 

3

Acquisition of non-controlling interests

 

27

 

(12)

 

–

Net cash used in financing activities

 

 

 

(1,559)

 

(1,425)

 

 

 

 

 

 

 

Sum of cash flows

 

 

 

995

 

674

Effect of exchange rates on cash

 

 

 

29

 

(40)

Increase in cash and cash equivalents

 

 

 

1,024

 

633

Cash and cash equivalents at beginning of year

 

04

 

1,431

 

798

Cash and cash equivalents at end of period

 

04

 

2,455

 

1,431

1

Prior year adjusted due to Hyperinflation accounting.

The accompanying Notes are an integral part of these consolidated financial statements.

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