BERLIN (dpa-AFX) - Sports goods giant Adidas AG (ADDYY.PK, ADDDF.PK) reported Thursday a 11.0% decline in third-quarter 2014 net income attributable to shareholders to 282 million euros from 316 million euros a year before, with earnings per share dropping year-on-year to 1.35 euros from 1.51 euros.
However, quarterly net sales grew by 6.2% year-on-year to 4.12 billion euros from 3.88 billion euros. During the third quarter of 2014, the adidas Group's revenues went up 9% on a currency-neutral basis, driven by a double-digit sales increase in Retail and a high-single-digit revenue growth in Wholesale. All regions, except North America, contributed to the currency-neutral revenue growth.
Looking ahead, adidas Group sales are likely to increase at a mid- to high-single-digit rate on a currency-neutral basis in 2014. Particularly, the adidas brand would benefit from the 2014 FIFA World Cup, where the firm sees record sales of 2 billion euros in the football category.
Net income attributable to shareholders is expected to be at a level of around 650 million euros, compared to last year, excluding goodwill impairment losses, of 839 million euros. This represents basic earnings per share of around 3.10 euros.
In 2015, Group sales are forecasted to grow at a mid-single-digit rate, while net income would grow at a higher rate than Group sales.
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