Europe
Since the beginning of 2024, adidas has been reporting on its financial and operating performance via the following breakdown: Europe, North America, Greater China, Emerging Markets, Latin America, and Japan/South Korea.
Europe
In 2024, sales in Europe grew 19% on a currency-neutral basis and increased 20% in euro terms to € 7,551 million from € 6,302 million in 2023. The currency-neutral development was driven by double-digit increases in both Lifestyle and Performance. In Lifestyle, Originals increased at a strong double-digit rate, while Sportswear grew high single digits. Growth in Performance was led by Football, where revenues increased at a strong double-digit rate, but was broad-based with increases across several categories.
Net sales in Europe
+19%
C.N.
€ 7,551 million
|
|
2024 |
|
2023 |
|
Change |
|
Change |
|---|---|---|---|---|---|---|---|---|
Net sales |
|
7,551 |
|
6,302 |
|
20% |
|
19% |
Gross margin |
|
50.3% |
|
45.9% |
|
4.3pp |
|
– |
Segmental operating profit |
|
1,485 |
|
852 |
|
74% |
|
– |
Segmental operating margin |
|
19.7% |
|
13.5% |
|
6.1pp |
|
– |
Gross margin in Europe increased 4.3 percentage points to 50.3% from 45.9% in 2023. Lower sourcing costs, a better business mix, and reduced discounting more than offset negative currency developments. Operating expenses were up 12% to € 2,310 million versus € 2,057 million in 2023, mainly driven by increases in marketing spend. As a percentage of sales, operating expenses were down 2.0 percentage points to 30.6% (2023: 32.6%). Operating profit in Europe increased 74% to € 1,485 million versus € 852 million in the prior year. The operating margin improved 6.1 percentage points to 19.7% (2023: 13.5%).