The company posted operating profit of €164 million ($196 million) for the fourth quarter, according to preliminary figures released late Thursday. The result exceeded analyst expectations and pushed full-year operating profit slightly above the forecast Adidas issued in October, News.Az reports, citing Bloomberg.
Adidas also announced a €1 billion share buyback program set to begin in February. The buyback will be funded through the company’s cash flow this year, with the intention of canceling the repurchased shares.
Shares in Adidas rose as much as 5.8% in early trading in Frankfurt on Friday, although the stock remains down more than 40% over the past 12 months.
Currency-neutral sales increased by 10% in the fourth quarter, marginally ahead of analyst estimates. However, the company’s performance has continued to face pressure from a weaker U.S. dollar and tariffs, with currency movements cutting more than €1 billion from revenue last year.
The currency impact in the fourth quarter was “much greater” than expected, but it was encouraging that Adidas still achieved double-digit revenue growth across all markets, said Adam Cochrane, an analyst at Deutsche Bank, in a research note. While management’s confidence is reflected in the new buyback plan, Cochrane added that “all eyes” will be on Adidas’s initial 2026 guidance when it is released in March.
