(Finance) – The German sportswear giant Adidas has registered revenues up by 16% in 2021 to 21.2 billion euros, driven by growth in all markets. Excellent momentum in EMEA, North America and Latin America, with double-digit increases in each region. The gross margin increased to 50.7% thanks to increased full-price sales and improved inventory management. L’Net income of continuing operations rose by over € 1 billion to € 1.492 billion. The BoD has proposed an increase of dividend 10% to € 3.30 per share.
For what concern 2022the company expects currency neutral sales in increase at a rate between 11% and 13%, despite a backlash of 250 million euros linked to the war in Ukraine. Gross margin is expected to increase to a level of between 51.5% and 52%, while the operating margin is expected to increase to a level of between 10.5% and 11%. Net income from continuing operations is seen growing to 1.8-1.9 billion euros.
“This growth assumption already includes a risk of up to 250 million euros in the company’s Russia / CIS business – about 50% of Adidas’ total revenues in the region – due to the war in Ukraine and reflects the suspension of the company. retail and e-commerce in Russia – explains the company – This amount represents about 1 percentage point of growth for the company “.
Meanwhile, take flight Adidaswhich stood at 201.7, with a 9.04% increase. The title of the sportswear company is the best in the DAX. Operationally, expectations are for a continuation of the day in a positive sense with resistance seen in the 204.3 area and later at 211.5. Support at 197.1.