The group’s revenue numbers (+4.4% to €5.26bn in Q2 and +3.1% to €10.8bn in H1) fell short of our expectations, but all profit numbers were higher. H1 EBIT was up by 17% to €1.34bn and net income from continuing operations by 19% to €960m. Management continues expecting full-year revenue to increase by some 10% before FX changes and the gross margin to improve by 0.3pp to 50.7%. The latter is, in our opinion, too cautious as the margin was up by 2.2pp in the last qua
09 Aug 2018
Superb H1 18 numbers
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Superb H1 18 numbers
adidas AG (ADS:WBO) | 0 0 1.8% | Mkt Cap: 37,743m
- Published:
09 Aug 2018 -
Author:
Hans-Peter Wodniok -
Pages:
2
The group’s revenue numbers (+4.4% to €5.26bn in Q2 and +3.1% to €10.8bn in H1) fell short of our expectations, but all profit numbers were higher. H1 EBIT was up by 17% to €1.34bn and net income from continuing operations by 19% to €960m. Management continues expecting full-year revenue to increase by some 10% before FX changes and the gross margin to improve by 0.3pp to 50.7%. The latter is, in our opinion, too cautious as the margin was up by 2.2pp in the last qua