This website was built by using the latest techniques and technologies. Unfortunately, your current browser version doesn't support those technologies.

Please upgrade your browser in order to display the website correctly and gain full functionality.

OK, understood
Your bookmarks

Personalise. This is where your personal bookmarks are stored. To add bookmarks, please click the star on the bottom right corner of content tiles or at the bottom of every content page.

Page titleSectionAdded atselect
You haven’t added any bookmarks yet.

AD-HOC: adidas Group announces preliminary results and increases 2016 financial outlook

08:26am CET

The adidas Group today announced preliminary results for the second quarter of 2016. 

Group revenues increased 21% on a currency-neutral basis and 13% in euro terms to € 4.4 billion. As a result of a higher gross margin as well as operating expense leverage, Group operating profit increased 77% to € 414 million in the second quarter of 2016 (2015: € 234 million). The positive impact from the early termination of the Chelsea F.C. contract, which lifted the Q2 other operating income by a mid- to high-double-digit million euro amount, also contributed to the improvement. Consequently, net income from continuing operations increased 99% to € 291 million (2015: € 146 million). Basic earnings per share from continuing and discontinued operations amounted to € 1.45 in the quarter, reflecting a 100% increase over the prior year level (2015: € 0.73).

In light of the strong brand momentum, the Group has increased its 2016 financial outlook. Management now projects currency-neutral sales to grow at a rate in the high teens in 2016 (previously: increase by around 15%). As a result of the stronger than expected top-line development and further operating leverage, net income from continuing operations is now forecasted to increase at a rate between 35% and 39% to a level between € 975 million and € 1.0 billion in 2016 (previously: increase by around 25%). The Group’s operating margin is now projected to increase to a level of up to 7.5% in 2016 (previously: increase to a level of around 7.0%). More details on the improved outlook will be given with the publication of the quarterly results on August 4.