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3/14/2018, 7:40 AM (Source: TeleTrader)
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Adidas-0.91%

284.00
Chart for: ADIDAS AG NA O.N.

Adidas sales up 12% to €5.1 billion in Q4

Adidas AG reported on Wednesday its IFRS net loss attributable to shareholders in the fourth quarter of 2017 stood at €41 million, or €0.20 per share, as a result of a one-time tax charge. Adjusted income attributable to shareholders jumped 15% to €1.2 billion, or €0.35 per share, while net sales rose 12.4% to €5.1 billion.

For the full-year 2017, the sports manufacturers' net income attributable to shareholders was up 7.8% from a year earlier to €1.1 billion, while adjusted income grew by 15.3% to €1.2 billion. Basic earnings per share (EPS) increased 6.7% to €5.42 and adjusted EPS jumped 14% to €5.79. Annual net sales amounted to €21.2 billion, marking a 14.8% growth from €18.5 billion in 2016.

"2018 is a key milestone on the road to achieving our long-term targets for 2020. We expect quality growth, with overproportionate bottom-line improvements. This will enable an even stronger increase in profitability by 2020 and allows us to upgrade our long-term target yet again," CEO Kasper Rorsted stated. The company's management proposed a dividend of €2.60 per share.

Breaking the News / NP