The Strategist

Adidas net profit falls by 3.5 times in 2022



03/09/2023 - 08:02



Adidas' net profit decreased 3.5 times to €612 million in 2022.



K.Artem.1
K.Artem.1
According to a press statement from the company, the net profit attributable to shareholders of German Adidas AG, one of the biggest makers of sportswear and accessories worldwide, decreased by three and a half times last year compared to 2021, to €612 million.

Diluted profits per share decreased to €3.34 in 2022 from €10.9 in 2021. Revenue grew by 6% to €22.511 billion.

The business reported a net loss of €512 million in the fourth quarter following a profit of €202 million a year earlier. Diluted loss per share was €2.87 compared to the profit of €1.05 in 2021. Revenue rose by 1.3% in the fourth quarter to €5.205 billion.

Adidas projects a 7-9% decline in revenues at the conclusion of the current year, exchange rate differences excluded.

source: bloomberg.com

 




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