Adidas to increase sales by two billion euros and extends contract with CEO Bjørn Gulden

Sportswear manufacturer Adidas considers itself well-positioned for the coming years, despite economic and geopolitical turbulence. The company is aiming for further growth in sales and profit by 2028, as it announced on Wednesday in Herzogenaurach. In the current year, currency-neutral sales are expected to increase in the high single-digit percentage range. This would represent an increase of two billion euros in absolute terms.

In 2025, currency-neutral revenues for the Adidas brand increased by 13 percent to 24.8 billion euros (28.76 billion dollars). The operating profit is expected to improve from just under 2.1 billion to around 2.3 billion euros. This was below analysts' expectations. However, tariffs and currency effects are likely to impact profit by 400 million euros.

Adidas targets long-term growth

Adidas also set medium-term targets, anticipating strong structural growth in the sportswear industry. By 2028, currency-neutral sales are therefore expected to increase annually in the high single-digit percentage range. The operating profit is expected to improve by an average in the mid-teens percentage range per year.

The company has recently scored major success with the re-release of retro products from its archive. This year, the World Cup in North America is expected to provide a further boost.

Shareholders can look forward to higher returns in the form of increased dividends and further share buybacks. Shares worth up to one billion euros are to be repurchased in both 2027 and 2028, conditions permitting, according to Adidas. The company has already announced a programme of this size for the current year.

Gulden extends until 2030 – Nassef Sawiris to become new chairman of supervisory board

Meanwhile, the company is focusing on continuity at the top. Norwegian Bjørn Gulden is to remain chief executive officer until 2030. The contract of the former professional footballer has been extended accordingly, Adidas announced.

The 60-year-old took over from Kasper Rorsted at Adidas in 2023. He led the group, which was in troubled waters at the time, back to growth and renewed profitability. Previously, Gulden was CEO of the sportswear company Puma for ten years.

The move to the top of the Franconian local rival caused a stir. The two companies were founded by the once-feuding brothers Adolf and Rudolf Dassler. This led to a lasting rivalry between the companies, although it is now largely a thing of the past.

At the same time, there will be a change at the head of the supervisory board. The mandate of Bertelsmann CEO Thomas Rabe ends with the Annual General Meeting on May 7. His successor is to be Nassef Sawiris, who has been on the supervisory board since 2016 and has been deputy chairman since 2025. According to Adidas, the Egyptian-Belgian entrepreneur holds a “significant” stake via his holding company NNS. Mathias Döpfner, chief executive officer of Axel Springer, will also be proposed for election as a new member of the supervisory board. (dpa/FashionUnited)

This article was translated to English using an AI tool.

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