HERZOGENAURACH (dpa-AFX) - The sporting goods manufacturer Adidas has performed better than expected in the first quarter and is raising its forecast for the current year. Currency-adjusted sales are expected to grow in the mid to high single-digit range in 2024, the company announced on Tuesday after the close of trading. The Franconian company expects an operating result of 700 million euros. Originally, Adidas had forecast growth in the mid-single-digit percentage range and an operating result of 500 million euros.

Adidas continues to assume that unfavorable currency effects will have a considerable negative impact on profitability in the current year. These effects are expected to have a negative impact on both reported sales and the development of the gross margin.

According to preliminary calculations, turnover rose by four percent to around 5.5 billion euros in the first quarter. Adjusted for currency effects, the increase was eight percent. The gross margin rose by 6.4 percentage points to 51.2 percent. The operating result increased from 60 million to 336 million euros. The figures exceeded analysts' expectations. The share price rose by 3.3 percent on the Tradegate trading platform./nas/he