Adidas thrives on increasing demand for sportswear | Business| Economy and finance news from a German perspective | DW | 03.03.2016
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Adidas thrives on increasing demand for sportswear

Germany's Adidas has confirmed strong increases in sales and profit. Executives said the company was on its way to becoming "the best sports firm in the world." Shareholders can look forward to higher dividend payouts.

Herzogenaurach-based Adidas said Thursday it expected revenues and profits to rise by 10-12 percent this year as the current consumer boom in Germany continued.

"The positive sales development will be supported by rising consumer spending, providing a positive backdrop for continued growth and expansion of the sporting goods industry," outgoing CEO Herbert Hainer said in a statement.

The company added it was pinning great hopes on future sales "being favorably impacted by the positive effects from major sporting events, including the UEFA EURO 2016 soccer championship and the Olympic Games in Rio de Janeiro.

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Good deal for shareholders

Adidas confirmed earlier announcements regarding its performance in 2015. The sportswear giant saw sales rising by 16 percent and bottom-line profit increasing by 12 percent year-on-year.

"2015 was a very successful year for the group," the company said. "We reached all our major financial goals and exceeded our initial bottom-line target," said Hainer who's going to hand over the reins to Danish-born Kasper Rorsted, currently head of consumer chemicals firm Henkel.

As a result of stellar operating performance last year, the supervisory board said it would recommend paying an increased dividend of 1.60 euros ($1.74) to shareholders at the annual general meeting on May 12.

hg/cjc (dpa, Reuters, AFP)

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