Adidas quarters: Sales good, profit as expected, outlook confirmed

Adidas has published its quarterly results. Here are the key figures.

Sales amounted to EUR 6.41 billion (prior-year quarter: EUR 5.87 billion). Income from continuing operations amounted to 644 million Euro (prior-year quarter 656). Other key earnings figures such as profit before taxes, etc. are also slightly below the previous year’s level.

The share is listed at -1.3% compared to yesterday evening.

Here the headline statement of Adidas in the wording:

“I am very pleased with our results for the third quarter and with the continued progress in our strategic growth areas adidas North America, China and E-Commerce. We achieved double-digit growth,” said Kasper Rorsted, CEO of adidas AG. “We confirm our forecast for the full year. We remain confident that sales growth will accelerate significantly in the fourth quarter. Despite some challenges, 2019 will be a record year and another important milestone on the road to achieving our targets for 2020”.

Adidas confirms outlook for full year 2019

For the 2019 fiscal year, the Company continues to expect sales growth on a currency-neutral basis of between 5% and 8%. With significantly accelerated sequential sales growth in the fourth quarter. The Company’s gross margin is expected to increase to approximately 52.0% in 2019 (2018: 51.8%). The Company expects the operating margin to improve by 0.5 to 0.7 percentage points to between 11.3% and 11.5% (2018: 10.8%). Combined with continued sales growth, this is expected to lead to another double-digit percentage increase in earnings. The company expects income from continuing operations to increase to between €1.880 billion and €1.950 billion. This corresponds to an increase of 10% to 14% compared with the prior-year figure of €1.709 billion.

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