Sporting goods manufacturer Adidas revealed Wednesday that it posted a profit of 2,116 million euros in 2021, up 389.6% from the previous year, driven by sales that recovered from the drop caused by the pandemic.

Turnover grew by 15.21TP2Q last year to €21,234 million, while operating income rose to €1,986 million (+166.31TP2Q year-on-year).

The operating profitability margin on sales was up to 9.4% in the period under review, from 4% a year earlier.

Adidas CEO Kasper Rorsted emphasized when presenting the results that they were "very good" despite the external factors that throughout the fiscal year influenced supply and demand.

Adidas forecasts for this year that turnover will increase by between 11% and 13%, discounting the effects of exchange rates and after the company has started to recover from the pandemic last year.

These forecasts contemplate the risk of up to €250 million from the business in Russia, a country that accounts for 50% of Adidas' total revenues in the region, due to the war in Ukraine.