<p>German sportswear giant Adidas reported an almost-fivefold leap in its net profit Wednesday, with the group betting on double-digit growth in 2022 despite the impact of the war in Ukraine.</p>.<p>Adidas booked a net profit of 2.1 billion euros ($2.3 billion) on its continuing operations in 2021, up from 432 million euros the previous year, the company said in a statement.</p>.<p>Excluding the Reebok brand after Adidas agreed its sale in August, the net profit on continuing operations came in at 1.5 billion euros, up from 461 million the previous year.</p>.<p>Across the board, the outfitter saw revenues rise by 15.2 percent to 21.2 billion euros in 2021, despite strong headwinds.</p>.<p>Coronavirus lockdowns, supply chain disruptions and "challenging conditions" in the key Chinese market shaved more than 1.5 billion euros off the sales figure.</p>.<p>In China, the company has been facing a consumer boycott over its refusal to use cotton from Xinjiang in response to accusations of forced Uyghur labour.</p>.<p>Sales in the market were down 24 percent in the last three months of 2021, limiting annual revenue growth to three percent, while other market regions powered ahead.</p>.<p>Looking forward, the Bavarian group is aiming for revenue growth between 11 and 13 percent in 2022, taking account of a "250 million euro risk" in Russia and former Soviet republics due to the war in Ukraine.</p>.<p>The figure was equivalent to around half the group's revenues in the region and "represents around one percentage point of growth" in sales for the company.</p>.<p>The Bavarian group also said it was aiming for a net profit of between 1.8 and 1.9 billion euros, based on continuing operations.</p>.<p>Adidas said on Monday it would temporarily shutter its stores in Russia as well as closing its e-commerce business, following rivals like Nike and Puma.</p>.<p>The sportswear maker had already announced it was suspending its contract with the Russian Football Union.</p>.<p><em><strong>Check out the latest DH videos here:</strong></em></p>
<p>German sportswear giant Adidas reported an almost-fivefold leap in its net profit Wednesday, with the group betting on double-digit growth in 2022 despite the impact of the war in Ukraine.</p>.<p>Adidas booked a net profit of 2.1 billion euros ($2.3 billion) on its continuing operations in 2021, up from 432 million euros the previous year, the company said in a statement.</p>.<p>Excluding the Reebok brand after Adidas agreed its sale in August, the net profit on continuing operations came in at 1.5 billion euros, up from 461 million the previous year.</p>.<p>Across the board, the outfitter saw revenues rise by 15.2 percent to 21.2 billion euros in 2021, despite strong headwinds.</p>.<p>Coronavirus lockdowns, supply chain disruptions and "challenging conditions" in the key Chinese market shaved more than 1.5 billion euros off the sales figure.</p>.<p>In China, the company has been facing a consumer boycott over its refusal to use cotton from Xinjiang in response to accusations of forced Uyghur labour.</p>.<p>Sales in the market were down 24 percent in the last three months of 2021, limiting annual revenue growth to three percent, while other market regions powered ahead.</p>.<p>Looking forward, the Bavarian group is aiming for revenue growth between 11 and 13 percent in 2022, taking account of a "250 million euro risk" in Russia and former Soviet republics due to the war in Ukraine.</p>.<p>The figure was equivalent to around half the group's revenues in the region and "represents around one percentage point of growth" in sales for the company.</p>.<p>The Bavarian group also said it was aiming for a net profit of between 1.8 and 1.9 billion euros, based on continuing operations.</p>.<p>Adidas said on Monday it would temporarily shutter its stores in Russia as well as closing its e-commerce business, following rivals like Nike and Puma.</p>.<p>The sportswear maker had already announced it was suspending its contract with the Russian Football Union.</p>.<p><em><strong>Check out the latest DH videos here:</strong></em></p>