Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Xetra  >  Adidas    ADS   DE000A1EWWW0

ADIDAS (ADS)
Mes dernières consult.
Most popular
Report
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Adidas Raises Guidance As Profit Beats Expectations

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/30/2012 | 08:39am CET

German sportswear and equipment maker Adidas AG (>> adidas AG) Monday raised its guidance for the year, after above-consensus earnings in the first quarter, but cautioned that irregularities at its Reebok India Company may weigh slightly on earnings.

In a preliminary statement, Adidas said net profit jumped 38% in the first quarter to EUR289 million, primarily due to stronger than anticipated growth in China and Japan as well as TaylorMade-adidas Golf sales, and benefited from lower expenses and a lower tax rate, Adidas said. The figure is well above the EUR237 million average forecast in poll of analysts by Dow Jones.

Group operating profit in the first quarter was up 30% to EUR409 million, while revenue jumped 14% on a constant currency basis to EUR3.8 billion, above expectations of EUR3.64 billion.

Adidas, the world's No. 2 maker of sports apparel after Nike Inc. (NKE), raised guidance, saying net profit is likely to rise by 12%-17% in 2012, compared with previous forecasts of 10%-15%. Group sales are likely to rise nearly 10% on a constant currency basis, up from growth in the mid-to-high single-digit percentage range.

Still, Adidas's gross margin--a measure of what it makes on product sales--fell for the third consecutive quarter to 47.7% from 48.4% in the first quarter of 2011.

Higher input costs--cotton, rubber and the rising cost of labor in China--have also eaten into the margins of Adidas's competitors. Last week, Puma SE (>> Puma AG Rudolf Dassler Sport) said its gross margin fell to 51.2% from 52.4% in the first quarter due to input price pressure.

For the rest of 2012, Adidas is banking on major sporting events like the London Olympics and the UEFA European Championship soccer tournament to drive sales. It also expects to benefit from a high exposure to fast-growing emerging markets, where rising incomes are pushing up demand for branded goods and clothing.

The company also said irregularities at its Reebok India Company will likely result in a pretax charge of up to EUR125 million, and may require the company to restate financial statements from last year.

"Management assures its stakeholders that it has, and will continue to, vigorously pursue a course of action to protect the Group's interests, which has already resulted in the appointment of a new local leadership team in India at the end of March," Adidas said in a statement.

Adidas said it will continue the restructuring of business activities in India with changes to commercial business practices, that may lead to an additional one-time charge of EUR70 million.

Over the past 12 months, Adidas shares have gained about 18% in value, outperforming the Euro Stoxx Consumer Goods index, which has gained 0.1%. Its shares closed Friday at EUR59.82.

-By Harriet Torry and Monica Houston-Waesch, Dow Jones Newswires; 49-69-29725-504; [email protected]

Stocks mentioned in the article : adidas AG, Puma AG Rudolf Dassler Sport
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ADIDAS
11/21DJUNDER ARMOUR : Footwear Chief Peter Ruppe to Depart
11/20 ADIDAS : Notification purs. to Article 21 Section 1 WpHG
11/20 ADIDAS AG : Release according to Article 26, Section 1 of the WpHG [the German S..
11/19 Adidas 'would have problem' with FIFA if it has broken law - Bild am Sonntag
11/16 ADIDAS : Warehouse Services Expands in Evansville With Global Sporting Goods Man..
11/16 ADIDAS : Notification purs. to Article 21 Section 1 WpHG
11/16 ADIDAS AG : Release according to Article 26, Section 1 of the WpHG [the German S..
11/14 ADIDAS : New Reebok Sublite Cushion Tactical, AR670-1 Compliant boot, brings lig..
11/13 ADIDAS AG : Notification and public disclosure of transactions by persons
11/13 ADIDAS AG : Notification and public disclosure of transactions by persons
More news
News from SeekingAlpha
11/20 Adidas eyes new forms of competition
11/17 Foot Locker - First Thoughts After Q3
11/15 Adidas Continues To Impress
11/14 Adidas AG (ADDYY) Presents At UBS European Conference 2017 - Slideshow
11/14 Nike Continues To Face Headwinds
Financials (€)
Sales 2017 21 411 M
EBIT 2017 1 979 M
Net income 2017 1 276 M
Finance 2017 125 M
Yield 2017 1,35%
P/E ratio 2017 28,51
P/E ratio 2018 22,72
EV / Sales 2017 1,77x
EV / Sales 2018 1,60x
Capitalization 38 025 M
Chart ADIDAS
Duration : Period :
Adidas Technical Analysis Chart | ADS | DE000A1EWWW0 | 4-Traders
Technical analysis trends ADIDAS
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 42
Average target price 200 €
Spread / Average Target 10%
EPS Revisions
Managers
NameTitle
Kasper Bo Rørsted Chief Executive Officer
Igor Landau Chairman-Supervisory Board
Glenn Bennett Head-Global Operations
Harm Ohlmeyer Chief Financial Officer
Willi Schwerdtle Deputy Chairman-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
ADIDAS21.05%45 049
ANTA SPORTS PRODUCTS LTD55.10%12 320
PUMA AG RUDOLF DASSLER SPORT52.77%6 815
YUE YUEN INDUSTRIAL (HOLDINGS) LTD-1.60%5 848
POU CHEN CORPORATION--.--%3 677
DECKERS OUTDOOR CORP34.16%2 375