Third quarter adidas Group currency-neutral sales grow 56%
In the third quarter of 2006, Group sales increased 56% on a currency-neutral basis, driven by the consolidation of the Reebok business segment as well as the higher than expected growth at brand adidas. Sales for the Group excluding Reebok increased 14% on a currency-neutral basis, with double-digit sales increases coming from all regions except North America, where sales increased by single-digit rates. In euro terms, Group revenues grew 53% to 2.949 billion in the third quarter of 2006 from 1.924 billion in 2005. Sales for the adidas Group excluding Reebok grew 12% in euro terms to 2.154 billion from 1.924 billion in the prior year.
“After an outstanding first half of 2006, the adidas Group again delivered strong performance in the third quarter,” commented adidas AG Chairman and CEO Herbert Hainer. “Sales growth accelerated and was broader-based than at any other time of the year and we have continued to make important progress with the Reebok integration.”
Currency-neutral sales grow 52%
In the first nine months of 2006, Group sales increased 52% on a currency-neutral basis, strongly supported by the first-time consolidation of the Reebok business segment. Sales for the adidas Group excluding Reebok increased 16% on a currency-neutral basis driven by double-digit growth in all regions. In euro terms, Group revenues grew 53% to 7.836 billion in the first nine months of 2006 from 5.115 billion in 2005. Sales for the adidas Group excluding Reebok grew 16% in euro terms to 5.954 billion in 2006 from 5.115 billion in the prior year.
Brand adidas and TaylorMade-adidas Golf grow strongly in the first nine months of 2006
The adidas segment was the main driver for the Groups organic sales growth in the first nine months of 2006. Currency-neutral adidas revenues increased 15% during the first nine months of 2006, positively impacted by the 2006 FIFA World Cup. Increases in nearly all Sport Performance categories as well as double-digit growth in the Sport Heritage and Sport Style divisions also contributed to this improvement. The Reebok segment added 1.828 billion to adidas Group sales. At TaylorMade-adidas Golf, currency-neutral revenues increased 23%. Excluding sales of the Greg Norman Collection, which is expected to be divested to MacGregor Golf Company by the end of this year, segment sales grew 14%, driven by growth in nearly all major categories. Currency translation effects only had a minor impact on sales in euro terms. adidas sales in euro terms increased 15% to 5.248 billion in the first nine months of 2006 from 4.545 billion in 2005. TaylorMade-adidas Golf sales in euro terms grew 25% to 658 million in 2006 from 528 million in 2005.
|
|
Nine Months |
Nine Months |
Change y-o-y |
Change y-o-y |
|
|
in millions |
in millions |
in % |
in % |
|
|
5,248 |
4,545 |
15 |
15 |
|
|
1,828 |
1,970 |
(7) |
(9) |
|
|
658 |
528 |
25 |
23 |
|
|
7,836 |
5,115 |
53 |
52 |
Group sales by brand in 2006,
“Total” includes HQ/Consolidation
[1]
Including Reebok business segment from February 1, 2006 onwards.
[2]
Figures reflect continuing operations as a result of the divestiture of the
Salomon business segment in 2005.
[3]
Only includes eight months of the nine-month period in 2006. The relevant
figures for the eight-month period of 2005 were not consolidated within the
adidas Group in 2005 and are therefore not included in the total. Reebok
prior year results are based on US-GAAP figures and not IFRS.
Strong double-digit sales increases in all regions
Sales in Europe for the adidas Group in the first nine months grew 32% on a currency-neutral basis, reflecting the first-time consolidation of the Reebok segment as well as increases at brand adidas. This also represents an improvement of 32% in euro terms to 3.339 billion in 2006 from 2.537 billion in 2005. In North America, Group sales during the first nine months increased 102% on a currency-neutral basis, reflecting the first-time consolidation of the Reebok segment as well as double-digit increases at both adidas and TaylorMade-adidas Golf. In euro terms, sales increased 107% to 2.492 billion in 2006 from 1.203 billion in 2005. Sales for the adidas Group in Asia increased 35% on a currency-neutral basis in the first nine months of 2006, driven by strong double-digit increases at adidas and TaylorMade-adidas Golf as well as the first-time consolidation of the Reebok segment. In euro terms, revenues in Asia also grew 35% to 1.494 billion in 2006 from 1.111 billion in 2005. In Latin America, currency-neutral sales increased 54% in the first nine months of 2006. This development mainly reflects strong increases at brand adidas as well as the first-time consolidation of the Reebok segment. In euro terms, sales grew 62% to 375 million in 2006 from 231 million in 2005. For the adidas Group excluding Reebok, first nine months currency-neutral sales grew 10% in Europe, 12% in North America, 21% in Asia and 32% in Latin America.
|
|
Nine Months |
Nine Months |
|
|
|
|
|
|
|
|
|
Europe |
3,339 |
2,537 |
32 |
32 |
|
North |
2,492 |
1,203 |
107 |
102 |
|
Asia |
1,494 |
