adidas: raises 2024 forecasts

(CercleFinance.com) - Sales rose by 9% to E5.
822bn (2023: E5.343bn), as exchange rate trends led to an unfavorable translation effect. Currency-neutral sales rose by 11% y-o-y.

Gross margin in Q2 reached 50.8% (vs. 50.9% in 2023). Operating income amounted to E346m (2023: E176m), giving an operating margin of 5.9% (2023: 3.3%).

Net income from continuing operations was E211m (2023: E96m), while basic EPS from continuing operations increased to E1.09 (2023: E0.48).

H1 2024 revenues were up 10% y-o-y. In euros, sales rose by 6% to E11.280bn in H1 2024 (2023: E10.617bn). Net income from continuing operations rose to E382m (2023: E73m), while basic and diluted EPS from continuing operations increased to E2.05 (2023: E0.29).

adidas now expects revenues to grow at a high single-digit rate in 2024. The group previously expected a mid- to high-single-digit rate. Operating profit is now expected to reach around E1.0bn (previously around E700m).


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