F A C T S H E E T J A N U A R Y - M A R C H 2 0 2 4
F A C T S H E E T J A N U A R Y - M A R C H 2 0 2 4
Our Share
Our Share
Earnings per share from continuing operations (€)
Basic
Diluted
Average number of shares
Basic
Diluted
Number of shares outstanding1
Share price (€)2
Market capitalization (€ in millions)1
Historical performance of the adidas share and important indices
(%)
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | |||||||||||||
2024 | 2023 | Change | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | ||||||||
0.96 | (0.18) | n.a. | - | 0.48 | - | 1.40 | - | (2.36) | ||||||||
0.96 | (0.18) | n.a. | - | 0.48 | - | 1.40 | - | (2.36) | ||||||||
178,549,084 | 178,537,198 | 0% | - | 178,538,765 | - | 178,549,084 | - | 178,549,084 | ||||||||
178,559,251 | 178,542,171 | 0% | - | 178,550,885 | - | 178,562,393 | - | 178,563,103 | ||||||||
178,549,084 | 178,537,198 | 0% | - | 178,549,084 | - | 178,549,084 | - | 178,549,084 | ||||||||
207.00 | 162.78 | 27% | - | 177.78 | - | 166.62 | - | 184.16 | ||||||||
36,960 | 29,062 | 27% | - | 31,742 | - | 29,750 | - | 32,882 | ||||||||
adidas AG
DAX
EURO STOXX 50
MSCI World Textiles, Apparel & Luxury Goods Index
12 |
10 |
12 |
3 |
28 | - | 9 | - | (6) | - | 11 | ||||||||
12 | - | 3 | - | (5) | - | 9 | ||||||||
14 | - | 2 | - | (5) | - | 8 | ||||||||
20 | - | (1) | - | (16) | - | 11 | ||||||||
1 At quarter-end, excluding treasury shares.
2 At quarter-end.
3
F A C T S H E E T J A N U A R Y - M A R C H 2 0 2 4
Consolidated Income Statement Highlights
Consolidated Income Statement Highlights
Key figures (€ in millions)
Net sales
Gross profit
Other operating expenses
Thereof: marketing and point-of-sale expenses
Thereof: operating overhead expenses1
EBITDA
Operating profit/(loss)
Income/(loss) before taxes
Net (loss)/income from continuing operations
Net (loss)/income attributable to shareholders2
Key ratios
Gross margin
Other operating expenses in % of net sales
Thereof: marketing and point-of-sale expenses in % of net sales
Thereof: operating overhead expenses in % of net sales1
Operating margin
Effective tax rate
Net (loss)/income attributable to shareholders in % of net sales2
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | |||||||||||||
2024 | 2023 | Change | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | ||||||||
5,458 | 5,274 | 4% | - | 5,343 | - | 5,999 | - | 4,812 | ||||||||
2,796 | 2,363 | 18% | - | 2,719 | - | 2,955 | - | 2,147 | ||||||||
2,478 | 2,367 | 5% | - | 2,582 | - | 2,570 | - | 2,551 | ||||||||
657 | 601 | 9% | - | 617 | - | 644 | - | 666 | ||||||||
1,822 | 1,766 | 3% | - | 1,965 | - | 1,926 | - | 1,885 | ||||||||
554 | 344 | 61% | - | 456 | - | 661 | - | (103) | ||||||||
336 | 60 | 458% | - | 176 | - | 409 | - | (377) | ||||||||
245 | 32 | 675% | - | 123 | - | 326 | - | (415) | ||||||||
171 | (24) | n.a. | - | 96 | - | 270 | - | (401) | ||||||||
170 | (39) | n.a. | - | 84 | - | 259 | - | (379) | ||||||||
51.2% | 44.8% | 6.4pp | - | 50.9% | - | 49.3% | - | 44.6% |
45.4% | 44.9% | 0.5pp | - | 48.3% | - | 42.8% | - | 53.0% |
12.0% | 11.4% | 0.6pp | - | 11.5% | - | 10.7% | - | 13.8% |
33.4% | 33.5% | (0.1pp) | - | 36.8% | - | 32.1% | - | 39.2% |
6.2% | 1.1% | 5.0pp | - | 3.3% | - | 6.8% | - | (7.8%) |
30.1% | 174.9% | (144.8pp) | - | 21.9% | - | 17.0% | - | 3.3% |
3.1% | (0.7%) | n.a. | - | 1.6% | - | 4.3% | - | (7.9%) |
1 Aggregated distribution and selling expenses, general and administration expenses, sundry expenses and impairment losses (net) on accounts receivable and contract assets. 2 Includes continuing and discontinued operations.
F A C T S H E E T J A N U A R Y - M A R C H 2 0 2 4
Consolidated Statement of Financial Position and Cash Flow Highlights
Consolidated Statement of Financial Position and Cash Flow Highlights
Key figures (€ in millions)
Total assets
Accounts receivable
Inventories
Operating working capital
Adjusted net borrowings1
Shareholders' equity
Capital expenditure
Net cash (used in)/generated from operating activities
Key ratios
Average operating working capital in % of net sales2
Equity ratio3
Adjusted net borrowings/
EBITDA1,4
Financial leverage3
Return on equity3
Net cash (used in)/generated from operating activities per share of common stock (€)
March 31 | June 30 | September 30 | December 31 | |||||
2024 | 2023 | Change | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 |
18,392 | 19,677 | (7%) | - | 19,338 | - | 18,720 | - | 18,020 |
2,606 | 2,818 | (8%) | - | 2,567 | - | 2,721 | - | 1,906 |
4,427 | 5,675 | (22%) | - | 5,540 | - | 4,849 | - | 4,525 |
4,745 | 6,391 | (26%) | - | 5,896 | - | 5,557 | - | 4,154 |
4,958 | 6,630 | (25%) | - | 6,039 | - | 5,235 | - | 4,518 |
4,871 | 4,849 | 0% | - | 4,790 | - | 5,204 | - | 4,580 |
69 | 78 | (12%) | - | 175 | - | 293 | - | 504 |
(116) | (538)5 | (78%) | - | 460 | - | 1,571 | - | 2,6305 |
23.5% | 26.0% | (2.5pp) | - | 27.1% | - | 26.9% | - | 25.7% |
26.5% | 24.6% | 1.8pp | - | 24.8% | - | 27.8% | - | 25.4% |
3.2 | 4.7 | (33%) | - | 4.8 | - | 4.8 | - | 3.3 |
101.8% | 136.7% | (34.9pp) | - | 126.1% | - | 100.6% | - | 98.6% |
3.5% | (0.8%) | 4.3pp | - | 0.9% | - | 5.8% | - | (1.6%) |
(0.65) | (3.01)5 | 78% | - | 2.58 | - | 8.80 | - | 14.735 |
1 Adjusted net borrowings = short-term borrowings + long-term borrowings + current and non-current lease liabilities + pensions and similar obligations + factoring - accessible cash and cash equivalents.
- Twelve-monthtrailing average.
- Based on shareholders' equity.
- EBITDA of last twelve months.
- Prior year adjusted due to hyperinflation accounting.
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F A C T S H E E T J A N U A R Y - M A R C H 2 0 2 4
Financial Highlights by Segment
Financial Highlights by Segment € in millions1,2
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | |||||||||||||||||
Change | ||||||||||||||||||||
2024 | 2023 | Change | (c.n.) | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | |||||||||||
Europe | ||||||||||||||||||||
Net sales | 1,733 | 1,509 | 15% | 14% | - | 1,592 | - | 1,812 | - | 1,389 | ||||||||||
Gross profit | 834 | 655 | 27% | - | 757 | - | 813 | - | 670 | |||||||||||
Gross margin | 48.2% | 43.4% | 4.7pp | - | 47.6% | - | 44.9% | - | 48.2% | |||||||||||
Operating expenses | 541 | 477 | 13% | - | 492 | - | 537 | - | 551 | |||||||||||
Operating expenses | 31.2% | 31.6% | (0.4pp) | - | 30.9% | - | 29.6% | - | 39.7% | |||||||||||
in % of net sales | ||||||||||||||||||||
Operating profit | 294 | 187 | 57% | - | 268 | - | 277 | - | 120 | |||||||||||
Operating margin | 17.0% | 12.4% | 4.6pp | - | 16.9% | - | 15.3% | - | 8.6% | |||||||||||
North America | ||||||||||||||||||||
Net sales | 1,122 | 1,177 | (5%) | (4%) | - | 1,399 | - | 1,484 | - | 1,159 | ||||||||||
Gross profit | 506 | 360 | 41% | - | 649 | - | 616 | - | 468 | |||||||||||
Gross margin | 45.1% | 30.6% | 14.6pp | - | 46.4% | - | 41.5% | - | 40.4% | |||||||||||
Operating expenses | 429 | 427 | 0% | - | 472 | - | 489 | - | 483 | |||||||||||
Operating expenses | 38.3% | 36.3% | 2.0pp | - | 33.8% | - | 32.9% | - | 41.6% | |||||||||||
in % of net sales | ||||||||||||||||||||
Operating profit/(loss) | 83 | (46) | n.a. | - | 192 | - | 137 | - | (9) | |||||||||||
Operating margin | 7.4% | (3.9%) | n.a. | - | 13.7% | - | 9.2% | - | (0.8%) | |||||||||||
Greater China | ||||||||||||||||||||
Net sales | 897 | 884 | 2% | 8% | - | 766 | - | 870 | - | 670 | ||||||||||
Gross profit | 479 | 415 | 15% | - | 415 | - | 456 | - | 268 | |||||||||||
Gross margin | 53.4% | 47.0% | 6.4pp | - | 54.2% | - | 52.4% | - | 39.9% | |||||||||||
Operating expenses | 215 | 245 | (12%) | - | 242 | - | 249 | - | 265 | |||||||||||
Operating expenses | 24.0% | 27.7% | (3.7pp) | - | 31.6% | - | 28.6% | - | 39.6% | |||||||||||
in % of net sales | ||||||||||||||||||||
Operating profit | 266 | 170 | 56% | - | 173 | - | 207 | - | 2 | |||||||||||
Operating margin | 29.6% | 19.3% | 10.3pp | - | 22.6% | - | 23.7% | - | 0.3% | |||||||||||
Emerging Markets | ||||||||||||||||||||
Net sales | 712 | 672 | 6% | 17% | - | 600 | - | 834 | - | 744 | ||||||||||
Gross profit | 357 | 331 | 8% | - | 306 | - | 411 | - | 376 | |||||||||||
Gross margin | 50.2% | 49.3% | 0.9pp | - | 51.0% | - | 49.3% | - | 50.6% | |||||||||||
Operating expenses | 208 | 183 | 14% | - | 187 | - | 217 | - | 216 | |||||||||||
Operating expenses | 29.2% | 27.2% | 2.0pp | - | 31.1% | - | 26.0% | - | 29.0% | |||||||||||
in % of net sales | ||||||||||||||||||||
Operating profit | 150 | 149 | 1% | - | 119 | - | 194 | - | 164 | |||||||||||
Operating margin | 21.1% | 22.1% | (1.1pp) | - | 19.9% | - | 23.2% | - | 22.1% | |||||||||||
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F A C T S H E E T J A N U A R Y - M A R C H 2 0 2 4
Financial Highlights by Segment € in millions1,2
First Quarter | ||||
Change | ||||
2024 | 2023 | Change | (c.n.) | |
Latin America | ||||
Net sales | 615 | 595 | 3% | 18% |
Gross profit | 279 | 264 | 6% | |
Gross margin | 45.4% | 44.3% | 1.1pp | |
Operating expenses | 152 | 135 | 13% | |
Operating expenses | 24.7% | 22.6% | 2.1pp | |
in % of net sales | ||||
Operating profit | 128 | 129 | (1%) | |
Operating margin | 20.8% | 21.7% | (1.0pp) | |
Japan/South Korea | ||||
Net sales | 339 | 347 | (2%) | 8% |
Gross profit | 181 | 180 | 0% | |
Gross margin | 53.2% | 51.9% | 1.3pp | |
Operating expenses | 101 | 107 | (6%) | |
Operating expenses | 29.8% | 31.0% | (1.2pp) | |
in % of net sales | ||||
Operating profit | 82 | 76 | 8% | |
Operating margin | 24.3% | 22.1% | 2.2pp | |
Other Businesses | ||||
Net sales | 32 | 80 | (60%) | (56%) |
Gross profit | 14 | 42 | (67%) | |
Gross margin | 44.5% | 53.4% | (8.8pp) | |
Operating expenses | 18 | 13 | 37% | |
Operating expenses | 56.8% | 16.6% | 40.2pp | |
in % of net sales | ||||
Operating profit/(loss) | (4) | 30 | n.a. | |
Operating margin | (12.0%) | 37.2% | n.a. |
Second Quarter | Third Quarter | Fourth Quarter | |||||||||
2024 | 2023 | 2024 | 2023 | 2024 | 2023 | ||||||
- | 596 | - | 621 | - | 479 | ||||||
- | 302 | - | 280 | - | 200 | ||||||
- | 50.7% | - | 45.1% | - | 41.8% | ||||||
- | 149 | - | 152 | - | 128 | ||||||
- | 25.1% | - | 24.5% | - | 26.8% | ||||||
- | 153 | - | 128 | - | 72 | ||||||
- | 25.7% | - | 20.6% | - | 15.1% | ||||||
- | 326 | - | 318 | - | 302 | ||||||
- | 187 | - | 162 | - | 151 | ||||||
- | 57.2% | - | 50.8% | - | 50.1% | ||||||
- | 119 | - | 96 | - | 105 | ||||||
- | 36.3% | - | 30.2% | - | 34.8% | ||||||
- | 73 | - | 69 | - | 50 | ||||||
- | 22.3% | - | 21.7% | - | 16.5% | ||||||
- | 48 | - | 38 | - | 33 | ||||||
- | 26 | - | 14 | - | 11 | ||||||
- | 54.7% | - | 36.2% | - | 32.8% | ||||||
- | 21 | - | 10 | - | 14 | ||||||
- | 44.4% | - | 26.7% | - | 40.9% | ||||||
- | 5 | - | 7 | - | 0 | ||||||
- | 10.5% | - | 19.7% | - | (0.2%) | ||||||
1 Prior year adjusted in context of introduction of new segment structure.
2 Differences between segmental and aggregated net sales may arise due to consolidation adjustments.
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F A C T S H E E T J A N U A R Y - M A R C H 2 0 2 4
CHANNELS | ||||||
Financial Highlights by Product Category
Financial Highlights by Product Category € in millions1,2
Net sales by product category
Footwear
Apparel
Accessories and gear
Total
First Quarter
Change
2024 2023 Change (c.n.)
3,239 3,023 7% 13%
1,885 1,911 (1%) 2%
328 | 340 | (4%) | (1%) |
5,458 | 5,274 | 4% | 8% |
Second Quarter | Third Quarter | Fourth Quarter | ||||||||
2024 | 2023 | 2024 | 2023 | 2024 | 2023 | |||||
- | 3,102 | - | 3,421 | - | 2,538 | |||||
- | 1,836 | - | 2,188 | - | 1,922 | |||||
- | 405 | - | 390 | - | 352 | |||||
- | 5,343 | - | 5,999 | - | 4,812 | |||||
1 Differences between segmental and aggregated net sales may arise due to consolidation adjustments. 2 Prior year adjusted due to hyperinflation accounting.
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F A C T S H E E T J A N U A R Y - M A R C H 2 0 2 4
Channels at a Glance
Channels at a Glance1
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | |||||||||||||||
Change | ||||||||||||||||||
2024 | 2023 | (c.n.) | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | ||||||||||
Net sales (€ in millions) | ||||||||||||||||||
Wholesale | 3,403 | 3,487 | 2% | - | 2,989 | - | 3,735 | - | 2,445 | |||||||||
Direct-to-Consumer (DTC) | 2,046 | 1,776 | 20% | - | 2,338 | - | 2,242 | - | 2,332 | |||||||||
Own retail | - | - | 11% | - | - | - | - | - | - | |||||||||
E-commerce | - | - | 34% | - | - | - | - | - | - | |||||||||
Number of stores2
Concept stores | 732 |
Concession corners | 89 |
Factory outlets | 1,046 |
Total | 1,867 |
Opening | 33 | |
Closing | 29 | |
Net opening/(Net closing) | 4 |
715 | - | - | 721 | - | 710 | - | 744 | |||||||
94 | - | - | 96 | - | 85 | - | 88 | |||||||
997 | - | - | 999 | - | 1,018 | - | 1,031 | |||||||
1,806 | - | - | 1,816 | - | 1,813 | - | 1,863 | |||||||
23 | - | - | 47 | - | 51 | - | 117 | |||||||
207 | - | - | 37 | - | 54 | - | 67 | |||||||
(184) | - | - | 10 | - | (3) | - | 50 | |||||||
1 Differences between segmental and aggregated net sales may arise due to consolidation adjustments. 2 At quarter-end.
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F A C T S H E E T J A N U A R Y - M A R C H 2 0 2 4
Operating Profit
Operating Profit € in millions
First Quarter | |||||
2024 | 2023 | ||||
Operating profit for reportable segments1 | 1,002 | 666 | |||
Operating profit for Other Businesses1 | (4) | 30 | |||
HQ | (514) | (413) | |||
Central expenditure for marketing | (215) | (205) | |||
Consolidation | 66 | (17) | |||
Operating profit | 336 | 60 | ||
Financial income | 24 | 13 | ||
Financial expenses | (115) | (41) | ||
Income before taxes | 245 | 32 | ||
1 Prior year adjusted in context of introduction of new segment structure.
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Disclaimer
adidas AG published this content on 29 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2024 16:06:05 UTC.