Quarterly figures: Adidas achieves record results and raises profit forecast

Herzogenaurach. The world's second largest sporting goods company Adidas is increasing its profit forecast for the current year after a record quarter. The company from Herzogenaurach is now targeting an operating result of 2.5 billion euros, 200 million more than previously expected, as Adidas announced on Tuesday evening.

The group also benefits from the refund of US import duties of around 200 million euros, which a court had declared inadmissible. Another 100 million euros resulted from the fact that Adidas was able to sell its goods with fewer discounts than expected. This more than compensated for negative exchange rate developments. To achieve this, around 100 million euros more will be invested in the fourth quarter than planned.

Adidas is sticking to its forecast of sales growth of nine to ten percent after adjusting for currency effects. In the third quarter, sales rose by nine percent to a record level of 7.26 billion euros; adjusted for currency effects, it was an increase of seven percent. The operating result rose by 37 percent to 1.01 billion euros - the highest quarterly profit in the company's history.