Upcoming Dividend • May 02
Upcoming dividend of €2.80 per share Eligible shareholders must have bought the stock before 08 May 2026. Payment date: 12 May 2026. Payout ratio is a comfortable 36% but the company is paying out more than the cash it is generating. Trailing yield: 1.9%. Lower than top quartile of Polish dividend payers (7.2%). Lower than average of industry peers (2.3%). Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: €2.70 (vs €2.44 in 1Q 2025) First quarter 2026 results: EPS: €2.70 (up from €2.44 in 1Q 2025). Revenue: €6.59b (up 7.1% from 1Q 2025). Net income: €479.0m (up 10% from 1Q 2025). Profit margin: 7.3% (up from 7.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Luxury industry in Europe. Announcement • Mar 27
adidas AG, Annual General Meeting, May 07, 2026 adidas AG, Annual General Meeting, May 07, 2026, at 10:00 W. Europe Standard Time. Buy Or Sell Opportunity • Mar 10
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to zł593. The fair value is estimated to be zł759, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.5% over the last 3 years. Earnings per share has grown by 100%. For the next 3 years, revenue is forecast to grow by 7.0% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Declared Dividend • Mar 08
Dividend of €2.80 announced Shareholders will receive a dividend of €2.80. Ex-date: 8th May 2026 Payment date: 12th May 2026 Dividend yield will be 0.4%, which is lower than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (38% earnings payout ratio) but not covered by cash flows (181% cash payout ratio). The dividend has increased by an average of 5.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 67% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 05
Full year 2025 earnings released: EPS: €7.46 (vs €4.23 in FY 2024) Full year 2025 results: EPS: €7.46 (up from €4.23 in FY 2024). Revenue: €24.8b (up 4.8% from FY 2024). Net income: €1.33b (up 76% from FY 2024). Profit margin: 5.4% (up from 3.2% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Luxury industry in Europe. Announcement • Mar 05
adidas AG announces Annual dividend, payable on May 12, 2026 adidas AG announced Annual dividend of EUR 2.8000 per share payable on May 12, 2026, ex-date on May 08, 2026 and record date on May 11, 2026. Announcement • Jan 30
adidas AG (XTRA:ADS) announces an Equity Buyback for €1,000 million worth of its shares. adidas AG (XTRA:ADS) announces a share repurchase program. Under the program, the company will repurchase up to €1,000 million worth of its shares. The repurchased shares will be cancelled. The share buyback will be financed through the company’s anticipated strong cash flow generation in 2026. the company intends to cancel the repurchased shares. The program is valid till 2026. Buy Or Sell Opportunity • Jan 23
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 25% to zł608. The fair value is estimated to be zł777, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has grown by 72%. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings are also forecast to grow by 19% per annum over the same time period. Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: €2.56 (vs €2.44 in 3Q 2024) Third quarter 2025 results: EPS: €2.56 (up from €2.44 in 3Q 2024). Revenue: €6.63b (up 3.0% from 3Q 2024). Net income: €458.0m (up 5.0% from 3Q 2024). Profit margin: 6.9% (up from 6.8% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Luxury industry in Europe. Announcement • Oct 17
Perfect Game and Adidas Launch Adizero Impact Shades Cleats Perfect Game has teamed up with global sportswear leader Adidas to launch the PG x Adidas Adizero Impact Shades Cleats, a brand-new, limited-edition design created exclusively for Perfect Game athletes. The launch is the first of many collaborations and activations to come from the partnership between two of the biggest brands in the sport. The PG-exclusive colorway, available in both metal and TPU versions, officially dropped this past weekend at Perfect Game.org and at the 27th Annual WWBA World Championship in Jupiter, Fla., where the cleats sold out within hours on-site. Inspired by one of baseball's most visible accessories - sunglasses - the Adizero Impact Shades Cleat reflects the confidence, flair and individuality of today's top amateur players. A paint-splatter-inspired graphic covers the upper, creating a sense of depth and motion that captures the energy of the game. A sunglass lace jewelry shines on the u-throat, while PG branding on the heel tab and sock liner celebrates the debut of the new Adidas x Perfect Game partnership. In addition to the WWBA launch, the PG x Adidas AdizERO Impact Shades Cleats are now available at Perfect Game Storefronts in Destin, Florida, and Gulf Shores, Alabama, giving athletes and fans more opportunities to experience the new collaboration firsthand. Perfect Game and Adidas will also host cleat testing activations at select Perfect Game events throughout the fall, allowing players to test performance features and experience the innovation behind the design. The partnership underscores Perfect Game's commitment to providing its athletes with access to elite-level equipment and experiences, while continuing to grow the sport's culture through meaningful collaborations with world-class brands. Announcement • Sep 12
Hibbett and Adidas Unveil "State Fair" Superstar Inspired by Texas Tradition Hibbett and adidas are team up to unveil the "State Fair" Superstar with a limited-edition design inspired by the flavors, vibe and spirit of the State Fair of Texas. With only 1,320 pairs produced, the "State Fair" Super Star is a collab born from the creativity of adidas and the Hibbett employees, who wanted to design something playful and uniquely Texas. The "State Fair" Superstar was designed to invoke feelings and images of the State Fair with unique details like embossing, a Dallas star, Dubrae belt buckle, corndog hit on the inside right shoe, a ferris wheel on the inside right shoe and (of course) a Texas state silhouette on the bottom sole of both shoes. The public will get a first in-person look at the gender-inclusive adult and kid sneakers, during a special community event taking place on September 20, 2025, celebrating the launch. The "State Fair" superstar celebration will take place at theHibbett store located at1441 Robert B. Cullum Blvd., Dallas 75210 from 2pm to 8pm and festivities will include giveaways, Texas-themed cowboy hats, diy bolo ties, county badges, Superstar sneaker mechanical bull-style rides, hoops, ring toss, music, promotions and more, along with "State Fair" Superstar try-ons and availability for purchase. Reported Earnings • Jul 31
Second quarter 2025 earnings released: EPS: €2.04 (vs €1.09 in 2Q 2024) Second quarter 2025 results: EPS: €2.04 (up from €1.09 in 2Q 2024). Revenue: €5.95b (up 2.2% from 2Q 2024). Net income: €363.0m (up 85% from 2Q 2024). Profit margin: 6.1% (up from 3.4% in 2Q 2024). Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Luxury industry in Europe. Upcoming Dividend • May 09
Upcoming dividend of €2.00 per share Eligible shareholders must have bought the stock before 16 May 2025. Payment date: 20 May 2025. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Polish dividend payers (7.1%). Lower than average of industry peers (2.1%). Reported Earnings • May 02
First quarter 2025 earnings released: EPS: €2.44 (vs €0.96 in 1Q 2024) First quarter 2025 results: EPS: €2.44 (up from €0.96 in 1Q 2024). Revenue: €6.15b (up 13% from 1Q 2024). Net income: €435.0m (up 154% from 1Q 2024). Profit margin: 7.1% (up from 3.1% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Luxury industry in Europe. Declared Dividend • Apr 16
Dividend of €2.00 announced Shareholders will receive a dividend of €2.00. Ex-date: 16th May 2025 Payment date: 20th May 2025 Dividend yield will be 0.2%, which is lower than the industry average of 2.8%. Payout Ratios Payout ratio: 47%. Cash payout ratio: 15%. Announcement • Apr 12
New Era Cap, LLC Partners with Adidas to Provide On-Field Caps for NCAA Baseball Teams New Era Cap LLC and adidas have launched a new partnership to provide official on-field caps for three of the nation's top college baseball teams, the Texas A&M Aggies, Arizona State Sun Devils and the University of Miami Hurricanes. Beginning on April 11, athletes for the three NCAA teams will take to the diamond wearing New Era's iconic 59FIFTY fitted caps, with each design featuring the teams' logo on the front of the crown as well as the New Era flag on the side. New Era has designed both home and away caps for each of the three teams, and at select moments in the season, New Era will drop fresh, unexpected cap designs that will bring added fan attention to the three squads. The collaboration launches on-field for athletes in April, with the option to wear either New Era's 59FIFTY or the Low-Profile 59FIFTY. Starting April 11, 2025, the 59FIFTY caps will be made available to fans, and later this month, a full fan collection will be available featuring 9FIFTY Snapback, 9SEVENTY Trucker and 9FORTY A-Frame caps. All fan cap styles available to fans will feature both brands' iconic marks — New Era's flag on the side, adidas' three stripes on the back. Declared Dividend • Apr 03
Dividend of €2.00 announced Shareholders will receive a dividend of €2.00. Ex-date: 16th May 2025 Payment date: 20th May 2025 Dividend yield will be 0.2%, which is lower than the industry average of 2.8%. Payout Ratios Payout ratio: 47%. Cash payout ratio: 15%. Announcement • Apr 03
adidas AG announces Annual dividend, payable on May 20, 2025 adidas AG announced Annual dividend of EUR 2.0000 per share payable on May 20, 2025, ex-date on May 16, 2025 and record date on May 19, 2025. Announcement • Apr 02
adidas AG, Annual General Meeting, May 15, 2025 adidas AG, Annual General Meeting, May 15, 2025, at 10:00 W. Europe Standard Time. Reported Earnings • Mar 07
Full year 2024 earnings released: EPS: €4.23 (vs €0.67 loss in FY 2023) Full year 2024 results: EPS: €4.23 (up from €0.67 loss in FY 2023). Revenue: €23.7b (up 11% from FY 2023). Net income: €756.0m (up €875.0m from FY 2023). Profit margin: 3.2% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Luxury industry in Europe. Announcement • Jan 29
adidas AG to Report Fiscal Year 2024 Final Results on Apr 01, 2025 adidas AG announced that they will report fiscal year 2024 final results at 9:00 AM, Central European Standard Time on Apr 01, 2025 Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: €2.44 (vs €1.40 in 3Q 2023) Third quarter 2024 results: EPS: €2.44 (up from €1.40 in 3Q 2023). Revenue: €6.44b (up 7.3% from 3Q 2023). Net income: €436.0m (up 75% from 3Q 2023). Profit margin: 6.8% (up from 4.2% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Luxury industry in Europe. Announcement • Apr 18
Adidas AG Provides Earnings Guidance for the Year 2024 adidas AG provided earnings guidance for the year 2024. For the period, the company's operating profit is now expected to reach a level of around €700 million (previously: to reach a level of around €500 million). Reported Earnings • Mar 18
Full year 2023 earnings released: €0.67 loss per share (vs €1.24 profit in FY 2022) Full year 2023 results: €0.67 loss per share (down from €1.24 profit in FY 2022). Revenue: €21.4b (down 4.8% from FY 2022). Net loss: €119.0m (down 152% from profit in FY 2022). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Luxury industry in Europe. New Risk • Mar 04
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). Shares are highly illiquid. Minor Risk Profit margins are more than 30% lower than last year (0.1% net profit margin). Announcement • Dec 16
Adidas Announces Management Changes Adidas has named a new executive board member to lead its global HR operations. Michelle Robertson's new appointment is effective January 1, 2024, but she has been leading as the interim global HR head since this summer. Robertson has been with Adidas on and off for more than a decade, most recently as the senior vice president of workplaces and HR. She also has worked in similar roles at Reebok during. Robertson's appointment comes as the company is on the search for a new head of its North America operations, which are headquartered in North Portland. Rupert Campbell, the former director in that role, announced in October he was stepping down two years after he was promoted to the job. When Campbell announced his departure, industry observers said his tenure was filled with challenges and uphill battles. Campbell took over the position at the end of 2021 when former North America President Zion Armstrong announced he would leave to return to his home in New Zealand. U.K. native Campbell most recently led Adidas' Russian-region business, and joined Adidas in 2012 as a retail director. Announcement • Nov 17
adidas AG, Annual General Meeting, May 16, 2024 adidas AG, Annual General Meeting, May 16, 2024. Reported Earnings • Nov 09
Third quarter 2023 earnings released: EPS: €1.39 (vs €0.34 in 3Q 2022) Third quarter 2023 results: EPS: €1.39 (up from €0.34 in 3Q 2022). Revenue: €6.00b (down 6.4% from 3Q 2022). Net income: €249.0m (up 308% from 3Q 2022). Profit margin: 4.2% (up from 1.0% in 3Q 2022). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Luxury industry in Poland. Buying Opportunity • Oct 07
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be zł921, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Aug 05
Second quarter 2023 earnings released: EPS: €0.48 (vs €1.88 in 2Q 2022) Second quarter 2023 results: EPS: €0.48 (down from €1.88 in 2Q 2022). Revenue: €5.34b (down 4.5% from 2Q 2022). Net income: €85.0m (down 75% from 2Q 2022). Profit margin: 1.6% (down from 6.2% in 2Q 2022). Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Luxury industry in Europe. Announcement • Jul 12
adidas Announces Resignation of Amanda Rajkumar, Global HR Representative and Executive Board Member adidas announced that after less than three years in the role, Adidas' global HR representative and only female executive board member Amanda Rajkumar has stepped down. Amanda Rajkumar joined Adidas in January 2021 after her predecessor, Karen Parkin, resigned after 23 years at the post. 
