EQS-Adhoc: adidas reports better-than-expected third quarter results and increases its full-year guidance
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EQS-Ad-hoc: adidas AG / Key word(s): Quarter Results/Change in Forecast FOR IMMEDIATE RELEASE Herzogenaurach, October 15, 2024
adidas reports better-than-expected third quarter results and increases its full-year guidance
adidas today announced preliminary results for the third quarter of 2024. In Q3, currency-neutral revenues increased 10% versus the prior year. In euro terms, the company’s revenues grew 7% to € 6.438 billion (2023: € 5.999 billion). Excluding Yeezy sales in both years, currency-neutral revenues increased 14% during the quarter. The company’s gross margin increased 2.0 percentage points to 51.3% in Q3 (2023: 49.3%). The year-over-year increase of the underlying adidas gross margin was even stronger. The company’s third quarter operating profit increased to € 598 million (2023: € 409 million), including a contribution of around € 50 million from the sale of parts of the remaining Yeezy inventory. The company has increased its full-year guidance to reflect the better-than-expected performance during the quarter and the current brand momentum. adidas now expects currency-neutral revenues to increase at a rate of around 10% in 2024 (previously: increase at a high-single-digit rate). The company’s operating profit is now expected to reach a level of around € 1.2 billion (previously: to reach a level of around € 1.0 billion). Within 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 € 50 million and no further profit contribution in the fourth quarter.
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For more information, please visit adidas-group.com. adidas uses alternative performance measures (APM) in its regulatory and mandatory publications that may represent so-called non-GAAP measures. An overview of these APMs can be found at adidas-group.com/financial-publications. End of Inside Information
15-Oct-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
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| 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: | 2008999 |
| End of Announcement | EQS News Service |
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2008999 15-Oct-2024 CET/CEST
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 | |
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 | ||||||
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| 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 |
|
Dividend '2022 in € |
Dividend '2023 in € |
Dividend '2024e in € |
Div.-Yield '2024e in % |
| 0,70 | 0,70 | 1,50 | 0,63% |
| 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 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| +3,91% | +6,23% | +28,37% | +28,38% | +2.620,37% |
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