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Adidas pleased its investors with an increase in profits for the II quarter

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Adidas pleased its investors with an increase in profits for the II quarter
August 09
09:00 2018

A German concern Adidas AG has released financial statements for the second fiscal quarter of this year. Let’s remind those who forgot that the company is the world’s second largest manufacture in the sporting goods industry.

The issued press release reads that for the reporting period the company’s net profit has grown by 2.5 times to the level of 397 million Euros (last year, the company showed a profit of 159 million Euros during the same period).

The company’s revenue has also increased, although not so dramatically. The company managed to get 5.26 billion Euros from the goods selling, which is 4.4% more than in 2017. If we do not take into account currency fluctuations, then it’s possible to claim that the revenue has grown by 10%.  Last quarter, sales under the brand Adidas went up by12%- to the mark of 4.77 billion Euros. Reebok, another brand of the concern, has shown a 3% decrease in revenue- to 387 million Euros.

The figures for both controlled brands depending on their location are as follows:

  • in the Asia-Pacific region sales have increased by 15.4% (to 1.73 billion Euros);
  • in Western Europe sales have decreased by 1% (to 1.42 billion Euros);
  • in North America the revenue has grown by 6.8% (to 1.08 billion Euros).

Representatives of the concern Adidas have formulated forecasts for the current year. The company is waiting for the revenue growth by a tenth, improving its profitability to 50.7% (by 0.3%) and a profit growth by 13-17%- to 1.675 billion Euros.

Today, Adidas securities have jumped by 9% due to the excellent financial statements. Since the beginning of the year, the company’s capitalization has increased by almost a quarter.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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