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AD-HOC: adidas Group announces preliminary results and increases 2016 financial outlook

adidas AG  / Key word(s): Preliminary Results/Change in Forecast

28.07.2016 08:26

Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


FOR IMMEDIATE RELEASE                                               July
28, 2016

AD-HOC: adidas Group announces preliminary results
and increases 2016 financial outlook

Herzogenaurach - The adidas Group today announced preliminary results for
the second quarter of 2016.

Group revenues increased 21% on a currency-neutral basis and 13% in euro
terms to EUR 4.4 billion. As a result of a higher gross margin as well as
operating expense leverage, Group operating profit increased 77% to EUR 414
million in the second quarter of 2016 (2015: EUR 234 million). The positive
impact from the early termination of the Chelsea F.C. contract, which
lifted the Q2 other operating income by a mid- to high-double-digit million
euro amount, also contributed to the improvement. Consequently, net income
from continuing operations increased 99% to EUR 291 million (2015: EUR 146
million). Basic earnings per share from continuing and discontinued
operations amounted to EUR 1.45 in the quarter, reflecting a 100% increase
over the prior year level (2015: EUR 0.73).

In light of the strong brand momentum, the Group has increased its 2016
financial outlook. Management now projects currency-neutral sales to grow
at a rate in the high teens in 2016 (previously: increase by around 15%).
As a result of the stronger than expected top-line development and further
operating leverage, net income from continuing operations is now forecasted
to increase at a rate between 35% and 39% to a level between EUR 975
million and EUR 1.0 billion in 2016 (previously: increase by around 25%).
The Group's operating margin is now projected to increase to a level of up
to 7.5% in 2016 (previously: increase to a level of around 7.0%). More
details on the improved outlook will be given with the publication of the
quarterly results on August 4.



Media Relations                         Investor Relations
Jan Runau                               Sebastian Steffen
Chief Corporate Communication Officer   Vice President Investor Relations
Tel.: +49 (0) 9132 84-3830              Tel.: +49 (0) 9132 84-4401

Katja Schreiber                         Christian Stoehr
Senior Director Corporate               Director Investor Relations
Communication                           Tel.: +49 (0) 9132 84-4989
Tel.: +49 (0) 9132 84-3810

                                        Jennifer Gaussmann
                                        Manager Investor Relations
                                        Tel.: +49 (0) 9132 84-74734

28.07.2016 The DGAP Distribution Services include Regulatory Announcements,
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Language:     English
Company:      adidas AG
              Adi-Dassler-Straße 1
              91074 Herzogenaurach
Phone:        +49 9132 84 0
Fax:          +49 9132 84 2241
Internet:     www.adidas-group.com
ISIN:         DE000A1EWWW0, US00687A1079, US00687P1049
WKN:          A1EWWW, A0MNCC  , 909676 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated
              Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
              Munich, Stuttgart, Tradegate Exchange; Terminbörse EUREX
End of Announcement                             DGAP News-Service

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