09 March 2022, Mumbai:
Kasper Rorsted, CEO of adidas: “Unfortunately, the brand releases its 2021 results in unsettling times. " Our thoughts and prayers are with the Ukrainian people, our teams on the ground, and everyone affected by the war".
The company strongly condemns any form of violence and stands in solidarity with all those calling for peace.
We also provide immediate humanitarian aid to those in need of support.
The company will continue to follow the situation closely and take future business decisions and actions as needed, always prioritizing our employee’s safety and support.”
“In 2021, we delivered a strong set of results despite several external factors weighing on both demand and supply throughout the year”, Kasper Rorsted continued.
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“Wherever markets operated without major disruptions it has been experiencing strong top-line momentum.
This is reflected in double-digit revenue growth in EMEA, North America, and Latin America.
While the company continued to invest heavily into its brand, its direct-to-consumer business, and its digital transformation, it improved its bottom-line by more than € 1 billion.
Taking it all together, 2021 was a successful first year within our new strategic cycle.
In 2022, it will build on this momentum and continue to grow both our top-and bottom-line at double-digit rates amid heightened uncertainty.”
Financial Performance in 2021
Currency-neutral sales grow 16% despite challenging market environment
Revenue improves in all market segments
While sales increased in all market segments in 2021, the top-line development in the regions differed significantly depending on the impact the various demand and supply challenges had on the specific region.
Gross margin at 50.7% driven by higher full-price sales and better inventory management
The company’s gross margin increased 0.7 percentage points to 50.7% in 2021 (2020: 50.0%).
Operating margin improves by 5.3 percentage points
Other operating expenses increased 4% to € 8.892 billion in 2021 (2020: € 8.580 billion).
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