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Adidas confirms net profit of 360 million euros in the second quarter

2022-08-04T07:36:47.396Z

The equipment manufacturer announced Thursday a recovery slower than expected given China which weighs on the outlook.



The equipment manufacturer Adidas confirmed Thursday a net profit of 360 million euros in the second quarter, announced in a preliminary way at the end of July, while the slower than expected recovery in China weighs on the outlook.

The group lowered its annual forecast at the end of July against the backdrop of health restrictions in the main Asian market.

Read alsoAdidas France leaves its headquarters in Strasbourg and repatriates all its offices to Paris

The group expects growth of 5 to 10% of its annual global sales at constant exchange rates, against a range of 11 to 13% previously.

The net result should reach him around 1.3 billion euros, against a range between 1.8 billion and 1.9 billion euros initially planned.

While the company has so far seen "

no significant slowdown in sales of its products or significant cancellations of wholesale orders

" outside of China, the adjusted forecast takes into account a "

potential slowdown in consumer spending

" in these other markets,” says Adidas.

Second quarter results benefited from strong momentum in Western markets and the return to growth in Asia-Pacific, excluding China.

From April to June, Adidas sales rose 4% year on year at constant exchange rates and 10% to 5.6 billion euros in euros.

Source: lefigaro

All business articles on 2022-08-04

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