adidas Group Full Year 2012 Results
Q4 2012 highlights:
- Currency-neutral Group sales up 1%
- TaylorMade-adidas Golf sales increase 15%
- Greater China and European Emerging Markets grow 12% and 9%, respectively
Full year 2012 highlights:
- Currency-neutral Group sales up 6% to a new record level of
€ 14.9 billion - adidas and TaylorMade-adidas Golf sales increase 10% and 20%, respectively
- Gross margin improves 0.2pp to 47.7% despite significant pressure from input costs
- Goodwill impairment in an amount of € 265 million
- Operating margin excluding goodwill impairment improves to 8.0%
- Earnings per share excluding goodwill impairment increase 29%
to a record level of € 3.78 - Net cash position of € 448 million at year-end
- Group inventories down 1% at year-end
- Management to propose a 35% higher dividend of € 1.35 per share
Outlook
- Group sales to increase at a mid-single-digit rate
- Operating margin to improve to a level approaching 9.0%
- Earnings per share to be in the range of € 4.25 to € 4.40
