"We’ve managed to produce ten years of unstoppable growth at the adidas brand, we’ve made taylormade-adidas the world’s greatest golf brand, and damn it, why shouldn’t we be able to get reebok there," hainer said at the presentation of the 2012 annual figures on thursday in herzogenaurach.
Adidas surprisingly had to adjust company values in the triple-digit millions in 2012, mainly due to the poorer growth prospects at reebok. As a result, profits slumped by 13.8 percent to 524 million euros – without value adjustments, they had risen by almost 30 percent to 789 million euros. Operating profit decreased by 3.4 percent to 920 million euros. Sales – driven by the olympics and the european soccer championship and supported by exchange rates – rose by 11.7 percent to a record 14.9 billion euros.
There will also be recorder lots in 2013, the CEO announced. "For the year as a whole, we anticipate a mid-single-digit increase in sales on a like-for-like basis, with growth across all brands, regions and distribution channels."The profit attributable to shareholders, which last year amounted to 526 million euros after valuation adjustments, is expected to increase to 890 to 920 million euros, even without major sporting events.
For the world’s number two behind nike, things are basically going brilliantly. In 2012, for example, the important fubball sales rose to a record 1.7 billion euros. Only reebok keeps causing trouble for the french: last spring, criminal activities were discovered in india, which is why the consolidated financial statements of the previous years had to be adjusted. The 265 million euro impairment charge was also largely attributable to reebok, as management took a more negative view of growth prospects, particularly in north and latin america.
The withdrawal from the national football league and the regrouping of field hockey sales also had an impact on reebok’s earnings. They fell by 14 percent last year to 1.7 billion euros. Hainer had already revised medium-term sales expectations in september. Instead of three billion euros, reebok is to contribute only two billion euros by 2015.
Shares in the dax company, which employs 46,300 people worldwide, nevertheless rose by a good five percent to more than 75 euros by early afternoon. Analysts cited the high level of cash on hand and the 35 percent increase in the dividend to 1.35 euros as the reasons for this.
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