adidas said it expects currency-neutral revenues to increase at a high-single-digit rate in FY26, representing around €2bn ($2.32bn) of growth in absolute terms.  

Operating profit is projected to rise to around €2.3bn, despite what adidas expects will be an approximately €400m negative impact from US tariffs and unfavourable currency developments. 

Looking further ahead, adidas said it is well-positioned for additional market share gains.  

In FY25, the adidas brand recorded 13% currency-neutral growth, supporting a record reported revenue figure of €24.8bn.  

adidas said it delivered double-digit growth across all markets and channels over the year. 

Gross margin improved by 0.8 percentage points to 51.6%. Operating profit rose 54% to €2.05bn while operating margin increased by 2.6 percentage points to 8.3%. 

Net income from continuing operations climbed to €1.37bn, up by almost 70% year-on-year.

adidas proposed increasing its dividend by 40% to €2.80 per share. It said that, together with a share buyback programme, total cash returns could reach up to €1.5bn this year. 

In Q4 2025, adidas reported 11% currency-neutral growth for the adidas brand, taking net sales to €6.1bn. The company said direct-to-consumer sales increased at a double-digit rate across all markets. 

Gross margin in the quarter rose one percentage point to 50.8%, which adidas linked to a continued focus on full-price selling amid a promotional marketplace and despite external headwinds. Operating profit more than doubled to €164m. 

Inventories stood at €5.8bn, which adidas said had a healthy composition to support continued growth.