Core Insights - Adidas reported a global revenue of €6 billion for Q2 2025, a 12% year-on-year increase, with operating profit rising to €546 million, up 58% [1] - The company's gross margin improved to 51.7% due to reduced discounts and lower product and freight costs [1] - The "Performance + Fashion" dual strategy continues to drive growth, particularly in the running shoe segment, with ADIZERO series sales increasing over 25% globally [1] Financial Performance - Total revenue for the first half of the year reached €12.105 billion, a 14% increase year-on-year, with operating profit at €1.2 billion, a 70% rise [1] - The Greater China region achieved revenue of €798 million in Q2, an 11% increase, contributing €1.827 billion in the first half, up 13% [1] Strategic Initiatives - Adidas is enhancing its localization strategy in China through collaborations with local universities and designers, as well as flagship store openings [2] - The opening of the first flagship store on Anfu Road in Shanghai showcased local culture and featured exclusive product launches [2] Challenges and Outlook - The company faced a significant impact from tariffs, estimating a €20 million cost in Q2, with an expected increase of €200 million in product costs for the year due to U.S. tariffs on imports from Indonesia and Vietnam [4] - Despite these challenges, Adidas maintains a forecast for double-digit revenue growth for the year, aiming to enhance product competitiveness and marketing efficiency [4]

Core Insights - Adidas reported a strong financial performance for Q2 and the first half of 2025, with global revenue reaching €6 billion in Q2, a 12% year-over-year increase, and a 14% increase for the first half, totaling €12.105 billion [1] - The company achieved an operating profit of €546 million in Q2, up 58% year-over-year, and €1.2 billion for the first half, a 70% increase [1] - The gross margin improved by 0.9 percentage points to 51.7% in Q2 and 51.9% in the first half [1] Financial Performance - Q2 global revenue: €6 billion, 12% growth (currency-neutral) [1] - H1 global revenue: €12.105 billion, 14% growth [1] - Q2 operating profit: €546 million, 58% growth [1] - H1 operating profit: €1.2 billion, 70% growth [1] - Q2 gross margin: 51.7%, up 0.9 percentage points [1] - H1 gross margin: 51.9%, up 0.9 percentage points [1] Market Performance - The Greater China region reported Q2 revenue of €798 million, an 11% increase, and H1 revenue of €1.827 billion, a 13% increase [1] - The sports performance and sports fashion segments both achieved double-digit growth, with increases of 12% and 13% respectively [1] - Footwear revenue grew by 9%, with running products like the ADIZERO0 series seeing over 25% growth [1] Strategic Initiatives - Adidas emphasizes a localized strategy in China, focusing on understanding local demands and enhancing both sports performance and fashion [2] - The company is actively engaging in sports events to boost consumer interest and participation [3] - Adidas is committed to nurturing young sports talent in China through partnerships with educational institutions and sports events [5] Future Outlook - For 2025, Adidas expects to maintain double-digit revenue growth and an operating profit between €1.7 billion and €1.8 billion [6]

Core Insights - Adidas reported strong financial performance for Q2 and the first half of 2025, with global revenue reaching €6 billion in Q2, a 12% year-over-year increase on a currency-neutral basis [1] - The company achieved an operating profit of €546 million in Q2, reflecting a 58% year-over-year growth, and a gross margin of 51.7%, up 0.9 percentage points [1] - For the first half of the year, global revenue totaled €12.105 billion, a 14% increase year-over-year, with an operating profit of €1.2 billion, up 70% [1] Revenue Growth - The Adidas brand's sports performance and sports fashion segments both experienced double-digit growth, increasing by 12% and 13% respectively [1] - By product category, footwear revenue grew by 9%, with the ADIZERO series running business seeing over 25% growth, apparel revenue increased by 17%, and accessories revenue rose by 7% [1] Market Performance - The Greater China region has shown consistent quality growth for nine consecutive quarters, with Q2 revenue reaching €798 million, an 11% year-over-year increase [1] - For the first half of the year, the Greater China region contributed €1.827 billion in revenue, marking a 13% year-over-year growth [1] Strategic Vision - CEO Gulden emphasized the strategy of being a "local thinking global brand," focusing on talent management and localized product offerings [2] - The "For China, In China" strategy has been credited for the growth in the Greater China region, with plans to enhance product quality and services to stimulate sports consumption [2] Future Outlook - Gulden projected that Adidas will maintain double-digit revenue growth in 2025, with operating profit expected to remain between €1.7 billion and €1.8 billion [2] - Growth will be driven by competitive product lines, collaborations with retailers, and impactful marketing activities [2]