Adidas AG today reported a 15 percent uptick in third-quarter net profits, to 387 million euros, or $432.1 million.
The Herzogenaurach, Germany-based sporting goods firm said group sales in the three-month period ended Sept. 30 reached 5.41 billion euros, or $6.04 billion, up 14 percent year-on-year, driven by strong momentum at both Adidas and Reebok.
In particular, the Adidas brand continued its robust momentum with revenues up 20 percent on a currency-neutral basis, fueled by double-digit sales increases in the Sport Performance, Adidas Originals and Adidas Neo lines. The brand marked double-digit growth in every geography, with the exception of the Russia/CIS zone, where revenues grew at a mid-single-digit rate, the company said.
Dollar figures are converted at average exchange for the periods in question.
The group confirmed its outlook for the full year, with net profits expected to fall between 975 million euros and 1 billion euros, or $1.08 million to $1.12 billion.
Citing great momentum across all major markets, Kasper Rorsted, who took over as chief executive officer on Oct. 1, succeeding Herbert Hainer, said it will be a “record year” for the group. “Going forward … we will ensure that the Adidas Group remains a growth company that delivers sustainable top- and bottom-line improvements in the years to come as outlined in our long-term strategic business plan.”