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2016 net income at Adidas soars 41%
10
Mar '17
For the full year of 2016, net income from continuing operations at German sportswear and sports goods retailer Adidas soared 41 per cent year over year to €1.019 billion. Sales on a currency-neutral basis reached a record €19.3 billion in 2016, up 18 per cent over its previous year, while operating margin expanded 1.3 percentage points to 7.7 percent.

For 2017, Adidas expects currency-neutral sales to rise between 11 and 13 per cent and operating margin to improve to between 8.3 and 8.5 per cent over 2016.

The company also anticipates net income to surge to around €1.225 billion in the current year, an increase of between 18 and 20 per cent.

"We have improved the desirability of our brands and products around the globe. As a consequence, we were able to increase revenues strongly and achieve a record net income of more than €1 billion for the first time in the history of our company," Adidas CEO Kasper Rorsted said. "Building on our 2016 performance, our momentum continues and we will again achieve strong top and bottom line improvements in 2017." (AR)

Fibre2Fashion News Desk – India


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