In addition, an increase in inventory allowances as well as purchase order cancellation costs related to the coronavirus pandemic had a negative impact on the gross margin development. While a more favorable channel mix due to the exceptional e-commerce growth as well as lower sourcing costs had a positive effect on gross margin, a less favorable pricing mix due to increased promotional activity and negative currency fluctuations weighed on the development in 2020. In 2020, gross profit decreased 20% to € 9.855 billion from € 12.293 billion in 2019, representing a gross margin decrease of 2.3 percentage points to 49.7% (2019: 52.0%). This development mainly reflects the revenue shortfall due to the coronavirus pandemic. In 2020, cost of sales was € 9.990 billion, representing a decrease of 12% compared to the prior year level of € 11.347 billion. However, these expenses represent only a very small portion of total cost of sales. In addition, own-production expenses are also included in the cost of sales. Net sales by product category in % of net sales Cost of sales decreases in line with net salesĬost of sales is defined as the amount we pay to third parties for expenses associated with producing and delivering our products.
Net sales by product category € in millions
ACCOUNTING INCOME AND EXPENSE BAR CHART CODE
Notes to the Consolidated Income StatementĤ0 » Other Financial Commitments and ContingenciesĤ3 » Information relating to the German Corporate Governance Code Notes to the Consolidated Statement of Financial Positionġ4 » Trademarks and other Intangible AssetsĢ4 » Other Non-Current Financial Liabilities Statement of Financial Position and Statement of Cash Flowsįinancial Statements and Management Report of adidas AGĭisclosures persuant to German Commercial CodeĬonsolidated Statement of Financial PositionĬonsolidated Statement of Comprehensive IncomeĬonsolidated Statement of Changes in EquityĠ2 » Summary of Significant Accounting PoliciesĠ4 » First-Time Consolidation/Disposal of Subsidiaries as well as Assets and Liabilities Group Management Report – Financial Review
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