Adidas group H1 gross profit up 1 percent

REPORT_ The gross margin of the Adidas group

increased 2.1 percentage points to 50.1 percent in the first half of 2013. Gross profit for the Adidas group grew 1 percent in the first half of 2013. The Adidas group’s gross margin increased 1.8 percentage points to 50.1 percent in the second quarter. Second quarter sales at Adidas remained stable on a currency-neutral basis.

Sales at Reebok grew 11 percent on a currency-neutral basis. In the second quarter of 2013 currency-neutral revenues in Western Europe decreased 11 percent. Group sales in North America were down 2 percent on a currency-neutral basis. In 2013, the Adidas group expects the operating margin to increase to a level approaching 9 percent. The group’s tax rate is expected to be at a level between 28 and 28.5 percent.

“I am pleased to report that the Adidas group has again been able to deliver record earnings per share in the first six months of 2013,” said Herbert Hainer, Adidas group CEO. “This is all the more impressive considering the material challenges we faced from currency headwinds and the continued soft trading environment in much of Europe.”