What were the key financial results for Adidas in 2021?

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Adidas Reports Significant Profit Increase in 2021 Amidst Global Challenges

Adidas reported a substantial rise in its net profit for 2021, reaching €2.1 billion from continuing operations, a marked improvement from €432 million in the preceding year. This financial performance was achieved despite considerable headwinds, including the impact of coronavirus-related lockdowns, global supply chain disruptions, and challenging market conditions, particularly in China, which collectively reduced sales by over €1.5 billion.
Net Profit Surge Driven by Continuing Operations

The company's net profit on continuing operations for 2021 stood at €2.1 billion, a nearly fivefold increase compared to the €432 million recorded in 2020. If the Reebok brand, for which a sale agreement was reached in August, is excluded, the net profit from continuing operations was €1.5 billion, significantly up from €461 million in the prior year.
Revenue Growth Despite Market Headwinds

Overall revenues for Adidas saw a 15.2 per cent increase, reaching €21.2 billion in 2021. However, this growth was constrained by factors such as COVID-19 lockdowns, persistent supply chain issues, and a more difficult environment in the crucial Chinese market. These challenges collectively impacted sales by more than €1.5 billion.
China Market Performance Affects Overall Growth

Sales within China experienced a notable downturn, decreasing by 24 per cent during the final three months of 2021. This decline in a key market limited the company's overall annual revenue growth to three per cent, even as other regions demonstrated stronger performance.
Positive Outlook for 2022 with Projected Growth

Looking ahead to 2022, Adidas forecasts revenue growth between 11 and 13 per cent. The company is also targeting a net profit of €1.8 to €1.9 billion, based on continuing operations. This forward-looking projection takes into account an estimated "€250 million risk" associated with Russia and former Soviet republics due to the ongoing conflict in Ukraine.

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What were the key financial results for Adidas in 2021?

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