Sales of German sportswear company Adidas H1 soar 34%; lift outlook FY21

First-half (H1) sales of German footwear, clothing and accessories maker Adidas increased 34% to € 10.3 billion from € 7.7 billion in the corresponding period last year . Given the accelerating revenue momentum, the company now expects FY21 sales to increase by 20%, driven by strong double-digit improvements in all markets.

“With sport taking center stage again this summer, we had a very successful quarter. Driven by the strength of our brand and better-than-expected demand for our products, we have seen an acceleration in our sales and results ”, Kasper Rorsted, CEO of Adidas, said in a press release.

Half-year operating income amounted to € 1.2 billion (loss: € 215 million). EBITDA jumped 324% to € 1.8 billion (€ 425 million), while net income from continuing operations amounted to € 890 million (loss: € 217 million) ).

EMEA sales in the first half of FY21 increased 38 percent to 3.7 billion euros (2.7 billion euros), and sales in North America increased by 27 percent to 2.4 billion euros (1.9 billion euros). In addition, sales in China and Asia-Pacific reached 2.4 billion euros and 1.1 billion euros respectively.

“In the absence of any major delays in the pandemic recovery or other macroeconomic shocks, we expect the global sporting goods industry to recover notably in 2021. Consumer confidence is expected to rebound against a backdrop of widespread vaccination and effective management of the pandemic as well as the return of major sporting events. on the world stage, ”the German sportswear company said in a statement.

Fibre2Fashion Information Office (JL)

First-half (H1) sales of German footwear, clothing and accessories maker Adidas increased 34% to € 10.3 billion from € 7.7 billion in the corresponding period last year . Given the accelerating revenue momentum, the company now expects FY21 sales to increase by 20%, driven by strong double-digit improvements in all markets.


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