(Adidas) Shares of Adidas rose more than 9% on Wednesday after reporting a 16% growth in currency-neutral revenues in the financial year 2021.
On a currency basis, Adidas said that its revenues rose by 15% in FY21 to 21.234 billion euros. Sales in the fourth quarter were reported at 5.14 billion euros, down by 0.1% from the prior year.
Adidas e-commerce revenues improved by 4% in 2021, down from the pandemic-induced robust growth of at least 50% in 2020.
The company said that its gross margin in 2021 was at 50.7%, up by 0.7 percentage points.
For the FY21, Adidas said its financial income was 19 million euros, a decline of 32% from the prior year.
Net income from continuing incomes was reported at 1.492 billion euros in FY21, up 223.4% from the prior year. In Q4 2021, net income from continuing operations was 123 million euros, down by 13.8% from the prior year.
Following a robust year, Adidas projects a currency-neutral increase in sales of 11% to 13% in FY22. The gross margin is expected to range between 51.5% and 52.0%.
Adidas expects its net income from continuing operations to range between 1.8 billion euros and 1.9 billion euros in FY22.
ADS: ETR is up 9.31%.
