Adidas Group First Quarter 2014 Results
In 2014, the operating margin for the Adidas Group is forecasted to be at a level between 8.5 percent and 9.0 percent (2013 excluding goodwill impairment losses: 8.7 percent). The Group tax rate is expected to be at a level of around 28.5 percent and thus more favorable compared to the 2013 tax rate excluding goodwill impairment losses of 29.0 percent. As a result of these developments, net income attributable to shareholders is expected to be at a level between €830 million and €930 million compared to the 2013 net income attributable to shareholders, excluding goodwill impairment losses, of €839 million. This represents basic earnings per share of between € 3.97 and € 4.45.
"While we still have to be wary of currencies and their effects on our financials, I expect a strong second quarter to point the way forward to a sustained period of growth and momentum for our Group," Herbert Hainer stated. "Later this month, we will unleash our largest football offensive ever ahead of the 2014 FIFA World Cup. The energy and intensity of our campaign and product concepts will be a clear statement and sign of things to come from our Group as we drive towards the realization of our strategic goals and our 2014 financial guidance."
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