Asia and North America fuels adidas Group earnings in first half of fiscal 2018

Adidas doubles its earnings in the first half of fiscal 2018. The German sporting goods retailer ended the first six months of the year with a net profit of 938 million euros, up 52.7% compared to the same period of the previous year. On the other hand, group revenues rose 3.1% to 10.8 billion euros.

Asia was the first market for Adidas by turnover, with sales of 3.58 billion euros, up 10.6%. It was the only region where the company registered double-digit growth. In Western Europe, sales were up 1.8% to 3.02 billion euros, while in the rest of Europe revenues surged 6% to 2.12 billion euros.

Latin America was one of the two markets where Adidas’ performance was weaker in the first half of the year. The group posted a turnover of 847 million euros, 5.4% less. In Russia and the former Soviet republics, revenues also fell by 12.9% to 297 million euros. Emerging markets were down 13.1% to 560 million euros.

Adidas’ net profit reached 938 million euros in the first six months of 2018

The Adidas brand accounted for the highest share of revenues, with 9.77 billion euros, 4.6% more. On the contrary, Reebok sales continued to decline with a 10.3% fall to 828 million euros in the first six months.

Concurrently with the six-month release, Adidas group confirmed its outlook for the remainder of the year. The company sales are expected to post a 10% currency-neutral growth in 2018 compared to fiscal 2017.