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

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

28.07.2016 08:26

Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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FOR IMMEDIATE RELEASE                                               July
28, 2016

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

Herzogenaurach - 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 EUR 4.4 billion. As a result of a higher gross margin as well as
operating expense leverage, Group operating profit increased 77% to EUR 414
million in the second quarter of 2016 (2015: EUR 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 EUR 291 million (2015: EUR 146
million). Basic earnings per share from continuing and discontinued
operations amounted to EUR 1.45 in the quarter, reflecting a 100% increase
over the prior year level (2015: EUR 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 EUR 975
million and EUR 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.


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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               Director Investor Relations
Communication                           Tel.: +49 (0) 9132 84-4989
Tel.: +49 (0) 9132 84-3810

                                        Jennifer Gaussmann
                                        Manager Investor Relations
                                        Tel.: +49 (0) 9132 84-74734


28.07.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at 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, Tradegate Exchange; Terminbörse EUREX
 
End of Announcement                             DGAP News-Service
 
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