Adidas' revenue slides 5%, lands at €5.5B in Q4

Wednesday, 10. March 2021 11:48

Adidas AG reported on Wednesday that its revenue declined 5% on an annual basis in the final quarter of fiscal 2020, landing at €5.5 billion. For the entire year, the figure plunged 16.1%, to amount to €19.8 billion.

The company's diluted earnings per share (EPS) from continuing operations amounted to €0.68 in the fourth trimester after a 26.8% plunge year-on-year, while gross profit declined by 5.5% to stand at €2.7 billion. In the fourth quarter, Adidas' operating profit lost 7.9% year-over-year to amount to €225 million, while the sports apparel giant's net income attributable to equity holders amounted to €151 million in the final trimester of 2020, dropping 9.5% from the same period a year prior. For the entire year, the figures were down by 77.9%, 19.8%, 71.8%, and 78.1% to stand at €2.15, €9.8 billion, €751 million, and €432 million, respectively.

"2020 was a year like no other. But despite all the challenges we faced, we still used the year to make Adidas a better company. This is the result of a great team effort by all of our more than 60,000 employees. I am more than thankful for their enduring support and great commitment," Adidas CEO Kasper Rorsted commented.

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Breaking the News / BU