BERLIN (dpa-AFX) - Sportswear maker adidas AG (ADDYY.PK) reported that its net income attributable to shareholders for the first quarter of 2025 climbed to 428 million euros or 2.40 euros per share from 170 million euros or 0.95 euros per share last year.
The company's operating profit increased by 82% to 610 million euros in the first quarter from last year's 336 million euros, reflecting an operating margin increase of 3.8 percentage points.
In the first quarter of 2025, currency-neutral revenues increased 13% versus the prior year, reflecting the strong momentum of the adidas brand, which increased 17%. In euro terms, revenues for the quarter grew about 13%, or nearly 700 million euros, to 6.153 billion euros from 5.458 billion euros last year.
Following the sale of the remaining Yeezy inventory late last year, the company's first-quarter results for 2025 exclude any revenues from Yeezy, which had contributed approximately 150 million euros in 2024.
The company has confirmed its full-year guidance. However, there is increased uncertainty due to the impact of US tariffs and heightened macroeconomic risks.
adidas expects to gain further market share and grow the company's currency-neutral sales at a high-single-digit rate in 2025. This reflects continued double-digit growth for the adidas brand.
The company projects operating profit to increase to a level of between 1.7 billion euros and 1.8 billion euros in 2025.
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