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AD-HOC: adidas Group upgrades full year 2016 earnings guidance reflecting non-operational gain during the second quarter

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

11.05.2016 17:50

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For immediate release  May 11, 2016

AD-HOC: adidas Group upgrades full year 2016 earnings guidance reflecting
non-operational gain during the second quarter

Herzogenaurach, Germany - As a result of a non-operational extraordinary
effect, the adidas Group will benefit from a one-time positive P&L impact
during the second quarter of 2016, which is not yet reflected in the
company's guidance for the fiscal year 2016. To account for this
development, the company has upgraded its earnings guidance for the year.

adidas AG and Chelsea Football Club have mutually agreed to terminate their
existing partnership agreement prematurely. The agreement will now end on
June 30, 2017 and not, as originally agreed, on June 30, 2023. As
compensation for the early termination of the contract, the adidas Group
will receive a payment in 2017 that will already positively impact the
Group's profit in the second quarter of 2016. The impact on the Group's net
income is expected to be in the mid-double-digit million euro range. As a
result, the Group's net income from continuing operations is now forecasted
to increase by around 25% in 2016 to a level of around EUR 900 million
(previously: to increase between 15% and 18%).  The Group's operating
margin is now projected to increase to a level of around 7.0% in 2016
(previously: to increase to between 6.6% and 7.0%).

***

Contacts:

Media Relations  Investor Relations
Jan Runau  Sebastian Steffen
Chief Corporate Communication Officer  VP 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


11.05.2016 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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