adidas – Annual Report 2021

Statement of income in accordance with HGB (condensed) € in millions

2021 2020
Net sales 4,475 3,991
Change in inventory – 1
Total output 4,475 3,992
Other operating income 649 986
Cost of materials (1,744) (1,466)
Personnel expenses (769) (655)
Depreciation and amortization (117) (127)
Other operating expenses (2,462) (2,564)
Operating profit 32 166
Financial result 1,916 585
Taxes (98) (77)
Net income 1,850 674
Retained earnings brought forward 580 828
Allocation to other revenue reserves (925) (336)
Allocation to capital reserves (8) –
Utilization for the repurchase of adidas AG shares (163) –
Retained earnings 1,334 1,166