Adidas Group, a Germany based sportswear giant, reported a rise of 16 per cent to €16.915 billion in its total revenue in the year 2015 as compared to €14.534 billion in 2014 mainly because of a growth in revenue in the brands Adidas and Reebok in most of the markets, according to a press statement released by the company.

On a currency-neutral basis, revenue grew by 10 per cent at the Adidas Group. Revenue increased by 12 per cent on a currency-neutral basis at Adidas brand and by 6 per cent on a currency-neutral basis at Reebok brand. Revenue, however, decreased by 13 per cent on a currency-neutral basis at Taylormade- Adidas Golf brand.

Gross profit increased by 18 per cent to €8.168 billion in 2015 at the Group as compared to €6.924 billion in 2014. Gross margin at Adidas Group increased 0.6 percentage points to 48.3 per cent as compared to 47.6 per cent in 2014.

Its net income from continuing operations increased 22 per cent to €686 million in 2015 from €564 million in 2014. Excluding the goodwill impairment losses, net income from continuing operations was up 12 per cent to €720 million as compared to €642 million in 2014.

Commenting on the results, Herbert Hainer, CEO of Adidas Group said, “2015 was a very successful year for Adidas Group. We reached all our major financial goals and exceeded our initial top- and bottom-line targets.”

“Our products are in high demand with consumers in every part of the world. This gives us every confidence that we will again grow the top- and bottom-line at a double-digit rate this year,” he added.