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5/3/2018, 7:33 AM (Source: TeleTrader)
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Adidas net income rises 18.7% to €540M in Q1

Adidas AG reported on Thursday its IFRS net income attributable to shareholders in the first quarter of 2018 rose 18.7% to €540 million. The company's net income from continuing operations in the three-month period stood at €542 million, marking a 17.4% rise from €462 million achieved a year ago.

Basic earnings per share jumped 16% to €2.65 in the quarter to March, while operating profit grew from €637 million in the first quarter of 2017 to €746 million. The sportswear manufacturer's total net sales amounted to €5.5 billion, marking a 2% year on year increase.

"We had a successful start to the year that was fully in line with our expectations: Our high-quality top-line growth was driven by our strategic focus areas North America, Greater China and e-commerce," CEO Kasper Rorsted stated.

Breaking the News / NP