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adidas Group increases 2016 financial outlook

adidas AG  / Key word(s): Quarter Results/Change in Forecast

27.04.2016 07:45

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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The issuer is solely responsible for the content of this announcement.

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FOR IMMEDIATE RELEASE                                                 
April 27, 2016

AD-HOC: adidas Group increases 2016 financial outlook

Herzogenaurach - The adidas Group today announced preliminary results for
the first quarter of 2016.

Group revenues increased 22% on a currency-neutral basis and 17% in euro
terms to EUR 4.8 billion. As a result of a higher gross margin as well as
operating expense leverage, Group operating profit increased 35% to EUR 490
million in the first quarter of 2016 (2015: EUR 363 million excluding
goodwill impairment losses). Consequently, net income from continuing
operations increased 38% to EUR 350 million (2015: EUR 255 million
excluding goodwill impairment losses). Basic earnings per share from
continuing and discontinued operations amounted to EUR 1.75 in the quarter,
reflecting a 50% increase over the prior year level (2015: EUR 1.17
excluding goodwill impairment losses).

In light of the strong brand momentum, which is reflected in the better
than expected first quarter performance, the Group has increased its 2016
financial outlook. Management now projects currency-neutral sales to grow
at a rate of around 15% in 2016 (previously: increase by between 10% and
12%). Furthermore, the company expects to continue to generate operating
leverage throughout the remainder of the year. As a result, net income from
continuing operations is now forecasted to grow at a faster rate than the
top line and increase between 15% and 18% in 2016 (previously: increase by
between 10% and 12%). More details on the improved outlook will be given
with the publication of the quarterly results on May 4.

***
Contacts:

Media Relations   Investor Relations
Jan Runau    Sebastian Steffen
Chief Corporate Communication Officer    Vice President Investor Relations 
Tel.: +49 (0) 9132 84-3830    Tel.: +49 (0) 9132 84-4401

Katja Schreiber    Christian Stoehr
Senior Director Corporate Communication   Director Investor Relations 
Tel.: +49 (0) 9132 84-3810    Tel.: +49 (0) 9132 84-4989

Please visit our corporate website: www.adidas-Group.com


27.04.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      adidas AG
              Adi-Dassler-Straße 1
              91074 Herzogenaurach
              Germany
Phone:        +49 9132 84 0
Fax:          +49 9132 84 2241
E-mail:       
Internet:     www.adidas-group.com
ISIN:         DE000A1EWWW0, US00687A1079, US00687P1049
WKN:          A1EWWW, A0MNCC  , 909676 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated
              Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
              Munich, Stuttgart; Terminbörse EUREX
 
End of Announcement                             DGAP News-Service
 
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