Adi­das Prof­its Rise Dou­ble Dig­its in Q3

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Adi­das has con­firmed its top- and bot­tom-line full-year out­look com­ing off a strong third quar­ter fu­eled by dou­ble-digit growth in North Amer­ica, greater China and e-com­merce, where rev­enues grew 39 per­cent.

The sport­ing goods firm posted net prof­its of 527 mil­lion eu­ros in the three months ended Septem­ber 30, up 36 per­cent year-on-year.

Group sales in­creased 9 per­cent to 5.68 bil­lion eu­ros, driven by a 13 per­cent in­crease at the Adi­das brand, which saw dou­bledigit in­creases in the run­ning and out­door cat­e­gories as well as at Adi­das Orig­i­nals and Adi­das Neo.

Gross mar­gin, a key in­di­ca­tor of prof­itabil­ity, in­creased by 2.4 per­cent­age points to 50.4 per­cent, boosted by bet­ter pric­ing and prod­uct mix, which the group said more than off­set higher in­put costs as well as un­fa­vor­able cur­rency de­vel­op­ments.

Adi­das con­firmed net in­come from con­tin­u­ing op­er­a­tions for the full year is ex­pected to in­crease at a rate of be­tween 26 per­cent and 28 per­cent to a level of be­tween 1.36 bil­lion and 1.39 bil­lion eu­ros.

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