Sporting goods
Strong start of the year for Adidas ensures plus in the DAX
Adidas surprisingly presents numbers. The reaction on the stock market follows promptly.
A strong growth at the start of the year has powered the sporting goods manufacturer Adidas on the German stock market. After a surprising report on Wednesday evening, the shares in the best values in the DAX won 1.7 percent in the morning, while the leading index fell 0.8 percent to 21,787 points.
As the group had previously announced, sales in the first quarter increased by almost 700 million to 6.15 billion euros compared to the same period in the previous year. This corresponds to a currency -adjusted growth of 13 percent. Without the sales of Yeezy products in the previous year, growth in currency is 17 percent. The reason is a double -digit growth in all markets and all sales channels.
The operating result rose from 336 million to 610 million euros. The margin that puts the operational profit in relation to sales jumped from 6.2 to 9.9 percent. Adidas spoke of better than expected results.
The final quarterly results are to be published on April 29.
dpa
Source: Stern
