EQS-Ad-hoc: adidas AG / Key word(s): Quarter Results/Change in Forecast FOR IMMEDIATE RELEASE
Consequently, the company has updated its full year guidance: adidas now expects currency-neutral revenues to decline at a low-single-digit rate in 2023 (previously: decline at a mid-single-digit rate). At the same time, the company’s underlying operating profit – excluding any one-offs related to Yeezy and the ongoing strategic review – is now anticipated to reach a level of around €100 million in 2023 (previously: around break-even level). Including the positive impact from the two Yeezy drops in Q2 and Q3, the potential write-off of the remaining Yeezy inventory of now around € 300 million (previously: € 400 million) and one-off costs related to the strategic review of up to € 200 million (unchanged), adidas now expects to report an operating loss of around € 100 million in 2023 (previously: loss of € 450 million).
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For more information, please visit adidas-group.com. End of Inside Information
17-Oct-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | adidas AG |
Adi-Dassler-Straße 1 | |
91074 Herzogenaurach | |
Germany | |
Phone: | +49 9132 84 0 |
Fax: | +49 9132 84 2241 |
Internet: | www.adidas-group.com |
ISIN: | DE000A1EWWW0, US00687A1079, US00687P1049 |
WKN: | A1EWWW, A0MNCC , 909676 |
Indices: | DAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1751073 |
End of Announcement | EQS News Service |
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1751073 17-Oct-2023 CET/CEST
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