Daily Management Review

Adidas profit rises by 13.5% in January-September 2019


Net profit attributable to shareholders of the German manufacturer of sportswear and equipment Adidas AG increased in January-September by 13.5% in annual terms to €1.809 billion.

Earnings per share rose to €9.13 from €7.86 a year earlier. Revenues increased by 6.7% to €17.802 billion.

Net profit in the III quarter decreased by 1.8% to €646 million. Earnings per share amounted to €3.27. Revenues rose 9.1% to €6.41 billion. 

According to the company's forecast, net profit in 2019 will amount to €1.88-1.95 billion, which is 10-14% higher than in 2018.

"We confirm our forecast for the whole year and remain confident in a significant acceleration of revenue growth in the IV quarter. Despite some difficulties, 2019 will be a record year, this is another important milestone on the way to achieving our goals for 2020," Adidas CEO Kasper Rørsted said.

Adidas AG was founded in 1924 by Adolf Dassler; the firm produces sports shoes, clothing and equipment.

source: bloomberg.com