adidas AG
ISIN: DE000A1EWWW0
WKN: A1EWWW
16 April 2024 05:41PM

EQS-Adhoc: adidas delivers better-than-expected performance in the first quarter and increases its full-year guidance

adidas AG · ISIN: DE000A1EWWW0 · EQS - adhoc news
Country: Germany · Primary market: Germany · EQS NID: 1881895

EQS-Ad-hoc: adidas AG / Key word(s): Quarter Results/Change in Forecast
adidas delivers better-than-expected performance in the first quarter and increases its full-year guidance

16-Apr-2024 / 17:41 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


FOR IMMEDIATE RELEASE

Herzogenaurach, April 16, 2024



adidas delivers better-than-expected performance in the first quarter and increases its full-year guidance

 

adidas today announced preliminary results for the first quarter of 2024. In Q1, currency-neutral revenues increased 8% versus the prior year level. In euro terms, the company’s revenues grew 4% to € 5.458 billion (2023: € 5.274 billion). The company’s gross margin improved 6.4 percentage points to 51.2% during the quarter (2023: 44.8%). Operating profit reached € 336 million in Q1 (2023: € 60 million).

As a result of the better-than-expected performance during the quarter, the company has increased its full-year guidance. adidas now expects currency-neutral revenues to increase at a mid- to high-single-digit rate in 2024 (previously: increase at a mid-single-digit rate). The company’s operating profit is now expected to reach a level of around € 700 million (previously: to reach a level of around € 500 million). 

The latest Yeezy drop generated revenues of around € 150 million and an operating profit of around € 50 million in the first quarter. In its guidance, the company assumes the sale of the remaining Yeezy inventory during the remainder of the year to occur on average at cost. This would result in additional sales of around € 200 million and no further profit contribution during the remainder of the year.

The company continues to expect unfavorable currency effects to weigh significantly on the company’s profitability this year. These effects are projected to continue to negatively impact both reported revenues and the gross margin development in 2024.

 

***

Contacts:
 
Media Relations
Investor Relations

corporate.press@adidas.com
Tel.: +49 (0) 9132 84-2352
investor.relations@adidas.com
Tel.: +49 (0) 9132 84-2920

 

 

For more information, please visit adidas-group.com.



End of Inside Information

16-Apr-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: adidas AG
Adi-Dassler-Straße 1
91074 Herzogenaurach
Germany
Phone: +49 9132 84 0
Fax: +49 9132 84 2241
Internet: www.adidas-group.com
ISIN: DE000A1EWWW0, US00687A1079, US00687P1049
WKN: A1EWWW, A0MNCC , 909676
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1881895

 
End of Announcement EQS News Service

1881895  16-Apr-2024 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=1881895&application_name=news&site_id=boersengefluester~~~ace3d64b-2049-452a-8d18-fbc8044c4b5f

Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.

The most important financial data at a glance
  2018 2019 2020 2021 2022 2023 2024e
Sales1 21.915,00 23.640,00 19.844,00 21.234,00 22.511,00 21.427,00 22.500,00
EBITDA1,2 2.882,00 3.845,00 2.079,00 3.066,00 1.874,00 1.358,00 0,00
EBITDA-Margin3 13,15 16,27 10,48 14,44 8,33 6,34 0,00
EBIT1,4 2.368,00 2.660,00 751,00 1.986,00 669,00 268,00 1.200,00
EBIT-Margin5 10,81 11,25 3,79 9,35 2,97 1,25 5,33
Net Profit (Loss)1 1.704,00 1.977,00 751,00 2.158,00 638,00 -14,00 580,00
Net-Margin6 7,78 8,36 3,79 10,16 2,83 -0,07 2,58
Cashflow1,7 2.646,00 2.819,00 1.486,00 3.192,00 -543,00 2.630,00 0,00
Earnings per share8 8,45 9,70 2,15 7,47 1,25 -0,42 3,20
Dividend per share8 3,35 0,00 3,00 3,30 0,70 0,70 1,50
Quelle: boersengefluester.de and Company information
Explanation

1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de

Auditor: PricewaterhouseCoopers

All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.

INVESTOR-INFORMATION
©boersengefluester.de
Adidas
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
A1EWWW DE000A1EWWW0 AG 42.552,00 Mio € 17.11.1995 8FXGHWJ5+XM
* * *
PE 2025e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
36,94 29,18 1,27 54,70 9,55 16,18 1,99
Dividends
Dividend '2022
in €
Dividend '2023
in €
Dividend '2024e
in €
Div.-Yield '2024e
in %
0,70 0,70 1,50 0,63%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
15.05.2025 29.04.2025 30.07.2025 29.10.2024 05.03.2025
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
+0,13%
236,40 €
ATH 336,25 €
+3,91% +6,23% +28,37% +28,38% +2.620,37%

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