Adidas AG

EANS-Adhoc: adidas AG
adidas Group increases 2010 financial outlook

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Herzogenaurach - adidas Group today announces preliminary results for the first quarter of 2010.

Group revenues increased 4% both on a currency-neutral basis and in euro terms to almost EUR 2.7 billion. As a result of increased gross margin and operating expense leverage, Group operating profit increased to EUR 260 million in the first quarter of 2010 (2009: EUR 58 million). The settlement of a lawsuit and the divestiture of a trademark both contributed a low-double-digit million euro amount each to this development. Net income attributable to shareholders increased to EUR 168 million (2009: EUR 5 million). Diluted earnings per share amounted to EUR 0.80 in the quarter (2009: EUR 0.04).

Following the stronger than expected first quarter performance, Management now forecasts full year earnings per share to reach a level between EUR 2.05 and EUR 2.30 (previously: between EUR 1.90 and EUR 2.15). More detail on the revised outlook will be given with the publication of quarterly results on May 4, 2010.

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ots Originaltext: Adidas AG
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Further inquiry note:
Dennis Weber
Senior Investor Relations Manager
Tel.: +49 (0)9132 84 4989

Branche: Recreational & Sports goods
ISIN:      DE0005003404
WKN:        500340
Index:    DAX, CDAX, HDAX, Prime All Share
Börsen:  Frankfurt / regulated dealing/prime standard
              Berlin / free trade
              Hamburg / free trade
              Stuttgart / free trade
              Düsseldorf / free trade
              Hannover / free trade
              München / free trade

Weitere Meldungen: Adidas AG

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