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📊 𝐑𝐞𝐬𝐮𝐥𝐭𝐬
• Revenue: €6.74B, +13% reported and +14% currency-neutral
• Operating profit: €574M, +5%
• Operating margin: 8.5% vs. 9.2% YoY
• Net income from continuing operations: €398M, +6%
• EPS from continuing operations: €2.10 vs. €2.03 YoY
• Gross margin: 52.5%, up 80 bps
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📊 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐓𝐫𝐞𝐧𝐝𝐬
• DTC revenue: +25%, including e-commerce +27% and own retail +23%
• Performance revenue: +39%, led by Football and Running
• Apparel revenue: +35%; Accessories: +20%; Footwear: +1%
• North America: +17%; Greater China: +15%; Latin America: +28%; Japan/South Korea: +18%
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🎯 𝐆𝐮𝐢𝐝𝐚𝐧𝐜𝐞
• FY26 currency-neutral revenue growth: 9%–10%, raised from high-single-digit growth
• FY26 operating profit: around €2.3B, reaffirmed
• Potential future U.S. tariff refunds of $250M–$300M are not included in guidance
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📌 𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬
• Q2 delivered the highest quarterly net sales in company history
• World Cup campaigns generated more than 9B views and over 400M engagements
• Marketing investment increased by €212M to €924M, limiting operating margin expansion
• H1 revenue reached a record €13.34B, while operating profit increased 11% to €1.28B
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💬 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐂𝐨𝐦𝐦𝐞𝐧𝐭𝐚𝐫𝐲
adidas expects continued above-industry growth supported by strong brand momentum, a broad product pipeline and exceptional global consumer demand.
