Annual Report 2025

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Lamine Yamal in a red Spain adidas jersey posing in a stadium. (Photo)

Consolidated Statement of Changes in Equity

adidas AG Consolidated Statement of Changes in Equity (IFRS) € in millions

 

 

Note

 

Share capital

 

Capital reserve

 

Cumulative currency translation differences

 

Hedging reserve

 

Cost of hedging reserve – options

 

Cost of hedging reserve – forward contracts

 

Other reserves

 

Retained earnings

 

Shareholders’ equity

 

Non-controlling interests

 

Total equity

Balance at December 31, 2023

 

 

 

179

 

1,355

 

(750)

 

(217)

 

(2)

 

(2)

 

(126)

 

4,145

 

4,580

 

345

 

4,925

Other comprehensive income

 

 

 

 

 

93

 

156

 

1

 

11

 

(2)

 

 

258

 

24

 

283

Net income

 

 

 

 

 

 

 

 

 

 

764

 

764

 

68

 

832

Total comprehensive income

 

 

 

 

 

93

 

156

 

1

 

11

 

(2)

 

764

 

1,023

 

92

 

1,115

Repurchase of adidas AG shares due to equity-settled share-based payment

 

25

 

(0)

 

 

 

 

 

 

 

(28)

 

(28)

 

 

(28)

Reissuance of treasury shares due to equity-settled share-based payment

 

25

 

0

 

 

 

 

 

 

 

28

 

28

 

 

28

Dividend payment

 

 

 

 

 

 

 

 

 

 

(125)

 

(125)

 

(40)

 

(165)

Equity-settled share-based payment

 

26

 

 

12

 

 

 

 

 

 

(8)

 

5

 

 

5

Acquisition of shares from non-controlling interests shareholders in accordance with IAS 32

 

 

 

 

 

(0)

 

 

 

 

(6)

 

 

(6)

 

(6)

 

(12)

Balance at December 31, 2024/January 1, 2025

 

 

 

179

 

1,367

 

(657)

 

(61)

 

(1)

 

8

 

(134)

 

4,775

 

5,476

 

392

 

5,867

Other comprehensive income

 

 

 

 

 

(346)

 

(320)

 

(1)

 

12

 

(38)

 

 

(692)

 

(45)

 

(738)

Net income

 

 

 

 

 

 

 

 

 

 

1,340

 

1,340

 

45

 

1,385

Total comprehensive income

 

 

 

 

 

(346)

 

(320)

 

(1)

 

12

 

(38)

 

1,340

 

648

 

(1)

 

647

Repurchase of adidas AG shares due to equity-settled share-based payment

 

25

 

(0)

 

 

 

 

 

 

 

(43)

 

(43)

 

 

(43)

Reissuance of treasury shares due to equity-settled share-based payment

 

25

 

0

 

 

 

 

 

 

 

43

 

43

 

 

43

Dividend payment

 

 

 

 

 

 

 

 

 

 

(357)

 

(357)

 

(42)

 

(399)

Equity-settled share-based payment

 

26

 

 

9

 

 

 

 

 

 

0

 

9

 

 

9

Balance at December 31, 2025

 

 

 

179

 

1,376

 

(1,003)

 

(381)

 

(2)

 

21

 

(172)

 

5,758

 

5,776

 

349

 

6,125

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