SHARE BUYBACK PROGRAM 2018-2021
On March 13, 2018, adidas AG announced the launch of a multi-year share buyback program of up to € 3.0 billion in total until May 11, 2021. The program will be executed by buying back shares via the stock exchange under the authorization granted by the Annual General Meeting on May 12, 2016. The vast majority of the share buyback program will be financed through the company’s net cash position as well as the expected strong operating cash flow generation in the years ahead. At the same time, adidas AG intends to make use of available attractive conditions for debt financing on the capital markets in order to finance the share buyback program. While the company may use the repurchased shares for all purposes in accordance with the authorization granted on May 12, 2016 except for allocating shares to Executive Board members as a compensation component, adidas intends to cancel the vast majority of the repurchased shares.
On January 7, 2019, adidas AG announced the commencement of the second tranche of the share buyback program with an aggregate acquisition cost of around € 800 million (excluding incidental purchasing costs). Starting January 7, 2019, shares shall be repurchased exclusively via the stock exchange in electronic trading through the Frankfurt Stock Exchange (Xetra).
On December 19, adidas announced the completion of the second tranche. Between January 7, 2019, and December 18, 2019, the company bought back 3.2 million shares, corresponding to 1.6% of the company’s stock capital, for a consideration of € 815 million. The average purchase price per share was € 252.80.