Adidas net profit up almost 5x in 2021

Adidas has reported its financial results for 2021. It reported a net profit of 2.1 billion euros, 4.9 times the profit earned by the company a year earlier. On a per-share basis, Adidas’ earnings increased by 8 euros 69 cents to 10 euros 90 cents. The volume of annual revenue jumped by 15.2%. It amounted to 21.2 billion euros. According to the company’s forecast, 2022 will end with an increase in revenue of approximately 11-13%. The growth rate of the operating margin is projected at 10.5% to 11%. As for the annual net profit, it will be in the range of 1.8 billion euros to 1.9 billion euros. At the same time, Adidas warned that the forecast could be changed in the future. Much will depend on how the geopolitical situation develops. The head of the company, Kasper Rorsted, said that its management would make operational decisions depending on the development of events related to Ukraine.

Source: xCritical.com