Overview
- Adidas posted record 2025 sales of about €24.8 billion with operating profit up 54% to €2.06 billion and currency-neutral growth of 13%.
- The company guided 2026 operating profit of around €2.3 billion and projected high‑single‑digit revenue growth at constant exchange rates.
- Management quantified a roughly €400 million drag from U.S. tariffs and adverse foreign exchange and said the business impact of the latest Middle East violence remains uncertain, noting a destroyed franchise store in Israel with no injuries.
- Shares fell about 7–8% in Frankfurt after the forecast missed analyst expectations for earnings and margins.
- To bolster confidence, Adidas extended CEO Bjørn Gulden’s contract to 2030, proposed Nassef Sawiris as supervisory board chair, raised the dividend 40% to €2.80 a share, launched a €1 billion buyback, and reiterated mid‑term targets including an operating margin above 10% by 2028.