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Sales up 6% on a currency-neutral basis excluding Rockport divestiture
+++ Strong top-line momentum at adidas (+11%) and Reebok (+5%) +++
Underlying net income reaches target of around € 650 million
Herzogenaurach, Germany – Based on
preliminary unaudited figures for 2014, the adidas Group reached its
updated top- and bottom-line financial targets on an underlying basis.
Excluding the impact from the divestiture of the Rockport business,
currency-neutral Group sales increased by 6% in 2014. In euro terms,
sales were up 2% to € 14.8 billion (2013: € 14.5 billion). Net income
attributable to shareholders reached the earnings target of around € 650
million, excluding goodwill impairment losses and the impact of the
Rockport divestiture.All sales channels contributed to this positive
top-line development, with strong double-digit growth in Retail. From a
brand perspective, adidas sales grew 11% currency-neutral for the full
year. Reebok recorded its seventh consecutive quarter of growth in the
fourth quarter and ended the year with a currency-neutral sales increase
of 5%.
Our strong sales momentum for adidas and
Reebok continued through the fourth quarter, with the Group recording
double-digit growth in Western Europe, Greater China, European Emerging
Markets and Latin America. Despite continuing pressure as a result of
further currency weakness in Russia/CIS, we achieved our 2014 earnings
target. Now we are looking forward to 2015 where we will continue to
invest in our growth opportunities and present our long-term vision for
the successful future of the adidas Group.
adidas Group CEO Herbert Hainer
The
adidas Group net income for 2014 will be impacted by two
non-operational items. Goodwill impairment losses related to the Group’s
Russia/CIS cash-generating unit largely as a result of the significant
deterioration of the Russian rouble amount to around € 80 million. In
addition, the successful conclusion of negotiations to divest the
Rockport business, which was announced in a separate release today, will
have a negative non-operational P&L impact in a double-digit
million Euro amount.
Final full-year results will be released on March 5, 2015.
About the adidas Group
The
adidas Group is a global leader in the sporting goods industry,
offering a broad portfolio of footwear, apparel and hardware for sport
and lifestyle around the core brands adidas, Reebok, TaylorMade and
Reebok-CCM Hockey. Headquartered in Herzogenaurach/Germany, the Group
employs more than 50,000 people across the globe and generated sales of €
14.5 billion in 2013.
adidas Group achieves sales and earnings targets in 2014
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