Adidas' revenues increase 14% on currency-neutral basis

Thursday, May 03, 2012

Herzogenaurach, Germany: Adidas Group revenues have increased 14% on a currency-neutral basis as a result of double-digit sales increases in Wholesale, Retail and Other Businesses. Group revenues grew 17% to € 3.824 billion in the first quarter of 2012 from € 3.273 billion in 2011. The Group's net income attributable to shareholders increased to € 289 million in the first quarter of 2012 from € 209 million in 2011. This represents an increase of 38% versus the prior year level.

“We are off to a fast start in 2012 and there is still plenty to come as adidas
takes centre-stage at the UEFA EURO 2012 and the London 2012 Olympics,”
commented Herbert Hainer, adidas Group CEO.

He added, “We have worked hard to keep inventories at industry-low levels. With the backdrop of clean markets, you will see us push forward with a whole host of new innovative product and brand experiences that will continue to excite consumers and customers around the world.”

Group sales increase driven by double-digit sales growth in all segments
Currency-neutral Wholesale revenues increased 10% due to double-digit sales growth at adidas. Currency-neutral Retail sales increased 16% versus the prior year, driven by 9% comparable store sales growth. Revenues in Other Businesses were up 32% on a currency-neutral basis, driven by strong double-digit sales increases at TaylorMade-adidas
Golf and Reebok-CCM Hockey.

Currency translation effects had a positive impact on segmental sales in euro
terms. Wholesale revenues increased 13% to € 2.614 billion from
€ 2.320 billion in 2011. Retail sales rose 20% to € 693 million versus € 577
million in the prior year. Sales in Other Businesses grew 37% to € 517 million
(2011: € 376 million).

"We have set ourselves ambitious, yet realistic growth and profit targets with our strategic business plan Route 2015. We are making great progress as we implement this plan which will secure long-term quality growth and enduring success for our Group," Hainer said.

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