Adidas grows 9% in third quarter and maintains full year outlook
The German sportswear company has ended the third quarter with a revenue of 6.4 billion euros (7.1 billion dollars).
Adidas ends its third quarter on the rise. The German sportswear company has ended the third quarter with a drop of 2% in its net profit, to 644 million euros (715 million dollars). Its revenue stood at 6.4 billion euros (7.1 billion dollars) compared to the same period last year.
Income before taxes (Ebitda) was 865 million euros (960 million dollars), 4.6% more than the previous year. By regions, Russia has been the one with the biggest increase, with a growth of 19.7%. In Asia Pacific, meanwhile, the group has grown by 10.4%, while in North America the rise has been 15.7%. In Europe, Adidas sales increased by 3.2%.
For its full year outlook, Adidas estimates a growth of between 5% and 8% in its revenue. At the same time, The company’s gross margin is forecast to increase to a level of around 52.0% in 2019, the operating margin is expected to increase between 0.5 percentage points and 0.7 percentage points to a level between 11.3% and 11.5%, according to Kasper Rorsted, chief executive officer of the group.
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