Adidas sees further growth in sales and earnings

Created: 03/09/2022, 08:24

Adidas increased currency-adjusted sales by 16 percent to 21.2 billion euros in 2021.

© Daniel Karmann/dpa

Adidas wants to keep growing.

The growth is to be carried by North and Latin America as well as the European region.

Herzogenaurach - The sporting goods manufacturer Adidas wants to continue growing after a jump in profits.

The company announced that sales this year should increase by 11 to 13 percent after currency adjustments.

The growth is to be carried by North and Latin America as well as the European region (EMEA).

The forecast includes a risk of up to EUR 250 million from the Russia/CIS business - which corresponds to around 50 percent of the company's total revenues in the region.

In connection with the attack on Ukraine, Adidas has temporarily suspended the operation of its shops and its online trade in Russia.

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Last year, after the Corona dip in 2020, Adidas increased sales by 16 percent to 21.2 billion euros.

However, the fourth quarter was weaker due to supply chain and China issues and higher costs.

Currency-adjusted sales fell by 3 percent to 5.1 billion euros.

Revenues in China fell by almost a quarter.

Profits from continuing operations fell group-wide in the fourth quarter by almost 14 percent to 123 million euros.

dpa