ADIDAS’ NET PROFIT INCREASED BY 13.5% OVER THREE QUARTERS

The company's revenue also increased by 6.7% to 17.802 billion euros.

The net profit attributable to the shareholders of the German manufacturer of sportswear and accessories Adidas AG for the nine months of 2019 increased in annual terms by 13.5% and reached 1.809 billion euros. This information is based on company reports.

The company's revenue also increased by 6.7% to 17.802 billion euros. The company's revenue in Russia and the CIS over nine months increased by 9.3% to 506 million euros.

The company's net profit in the third quarter decreased by 1.8% compared to the same period last year and amounted to 646 million euros. Quarterly revenue grew by 9.1% compared to the same period last year, to 6.41 billion euros. The company's quarterly index in Russia and the CIS jumped 19.7% to 199 million euros.

The company predicts a net profit from operations for the year in the range of 1.88-1.95 billion euros, which is 10-14% higher than last year.

Adidas CEO Kasper Rorsted noted: “We confirm our forecast for the whole year and remain confident in the significant acceleration of revenue growth in the fourth quarter. Despite some difficulties, the current year of 2019 will be a record one, and it will also be another important milestone on the road to achieving our goals for 2020. ”

Adidas AG, founded in 1924 by Adolf Dassler, is one of the world leaders in producing sports shoes, clothing, and equipment.