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Footwear Company adidas reports net income up 16%

09 May '06

2 min read

Footwear Giant Adidas Group has reported first quarter results.

First quarter adidas Group currency-neutral sales grow 40%
In the first quarter of 2006, Group sales increased 40 percent on a currency-neutral basis, mainly driven by the first-time consolidation of the Reebok business segment.

Sales for the adidas Group excluding Reebok increased 13 percent on a currency-neutral basis supported by higher sales in all regions. I

n euro terms, Group revenues grew 47 percent to € 2.459 billion in the first quarter of 2006 from € 1.674 billion in 2005. Sales for the adidas Group excluding Reebok grew 19 percent in euro terms to € 1.988 billion in 2006 from € 1.674 billion in the prior year.

“The adidas Group has got off to a powerful start in the first quarter of 2006,” commented adidas-Salomon AG Chairman and CEO Herbert Hainer.“

Both adidas and TaylorMade-adidas Golf delivered excellent top- and bottom-line results, and Reebok sales clearly outperformed order backlogs.”

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adidas is a name that stands for competence in all sectors of sport around the globe. The vision of company founder Adolf Dassler has long become reality, and his corporate philosophy the guiding principle for successor generations. The idea was as simple as it was brilliant. Adi Dassler's aim was to provide every athlete with the best possible equipment.

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