Adidas’ exceeds €10 billion in sales
08/03/2007
Germany-based adidas Group has reported revenues of €10.084 billion for 2006, 52% higher than the €6.636 billion posted for 2005. Sales, excluding Reebok, increased 14% to reach €7.548 billion from €6.636 billion in the prior year, representing the company’s highest organic growth within the last eight years.
Sales improved in all regions with sales in Europe increasing 31% to €4.162 billion from €3.166 billion; sales in North America rising 107% to total €3.234 billion compared with €1.561 billion; sales in Asia increasing 33% to reach €2.02 billion from €1.523 billion; and sales in Latin America improving 56% to €499 million from €319 million. Excluding Reebok, sales grew 8% in
The group’s net income increased 14% to €496 million from €434 million in 2005, driven by the strong sales and the lower tax rate, which fell 2.3 percentage points to 31.4%.
For 2007, the company expects to increase at a mid-single-digit rate is forecasting revenue growth to be weighted towards the second half of 2007.
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