World Footwear


adidas achieves targets in 2014

Jan 26, 2015 Germany
adidas achieves targets in 2014
Sales up by 6% on a currency-neutral basis, excluding Rockport divestiture. Underlying net income to reach target of around 650 million euros
Based on preliminary unaudited figures for 2014, the adidas group announced 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 by 2% to 14.8 billion euros (compares to 14.5 billion euros in 2013).

Net income attributable to shareholders reached the target of 650 million euros (excluding goodwill impairment losses and the impact of the Rockport divestiture). According to the Germany-based group “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 commented.

The company also highlighted that the 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, "as a result of the significant deterioration of the Russian rouble amount to around 80 million euros”; the other item being the successful conclusion of negotiations to divest the Rockport business, which has been announced on the 23rd of January.

Final full-year results will be released on the 5th of March.

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