Kasper Rorsted, Adidas CEO, "We've never had a year like 2020"

Adidas published financial results for 2020: the company's sales declined by 14 % compared to 2019 (to 19.8 billion euros).

The company's net profit collapsed by 78 % and amounted to €429 million vs. 1.92 billion euros a year earlier, the company's report states.

The company's revenue in Russia and the CIS declined by 11.3 % to 584 million euros.

The company decided to resume the payment of dividends; as of the end of 2020, their size will be 3 euros per share.

At the same time, Adidas has significantly increased online sales — by 53 %, exceeding €4 billion.

"We have never had a year like 2020," commented Adidas CEO Kasper Rorsted on the results of the year.

On the other hand, in the fourth quarter, Adidas' financials showed a slight increase: revenues excluding currency effects in October–December increased by 1 %, to 5.55 billion euros. However, the company's net profit in the Q4 2020 decreased by 24 % to 138 million euros vs. 181 million euros for the same period last year.

In 2021, Adidas forecasts growth in revenue excluding currency effects by 14–19 %, the company also expects net profit from core operations to reach 1.25–1.45 billion euros.