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.

adidas-Salomon in 2001:15% earnings growth target achieved

Sales top € 6 billion for the first time ever +++ € 0.92 dividend proposed

Sales reach record level of € 6.1 billion

Herzogenaurach, February 7, 2002 - Based on preliminary figures, the 2001 adidas-Salomon sales reached € 6.1 billion, the highest level in the Group's history. This 5% year-over-year improvement is the result of higher sales figures in all brands. As anticipated, sales increased in all regions with the exception of North America. Gross margin for the Group was maintained at an industry-leading 42.6%, despite the negative effects of a strong US dollar and the highly promotional retail environment in North America.

Net income up 15%

Net income for the Group was € 208 million or € 4.60 per share. This result is 15% above last year's level and exactly in line with the targets that the Group has stated since the beginning of 2001.

This increase was driven by higher sales and operating expense reductions. Operating expenses represented 34.8% of net sales, a decrease of 105 basis points versus the prior year. In particular, Group progress on reducing marketing working budget expenditures aided this effort. In 2001, adidas-Salomon's income before taxes was € 376 million, up 9% year-over-year. Lower taxes and minorities also contributed to the earnings improvement.

€ 0.92 dividend proposed

The adidas-Salomon Executive Board will propose paying a dividend of € 0.92 per share to the Annual General Meeting of Shareholders on May 8, 2002, the same amount as in the previous year. This decision to maintain a stable dividend level reflects the Company's ongoing dividend policy to pay out a dividend that is at a level between 15 and 20% of net income.

Final full-year results will be released on March 7, 2002.