Adidas Reports Strong First Quarter 2025 Results

Adidas has announced preliminary results for the first quarter of 2025, exceeding expectations. Revenues increased significantly, rising nearly €700 million to reach €6,153 million, compared to €5,458 million in the same period of 2024. On a currency-neutral basis, sales grew by 13%. Excluding previous year’s Yeezy sales, adidas brand revenues rose by 17%, driven by robust growth across all markets and channels.

The company saw a slight increase in gross margin, up by 0.9 percentage points to 52.1%. For the adidas brand specifically, the margin improved by 1.6 percentage points. Operating profit also saw a significant rise, reaching €610 million, reflecting a 9.9% operating margin, up from 6.2% in 2024.

Adidas completed the sale of its remaining Yeezy inventory last year, meaning no Yeezy sales were included in the quarter's results. The final financial results for Q1 will be published on April 29, 2025, with a conference call scheduled the same day.