Adidas AG (ADDDF.PK) reported third quarter net income attributable to shareholders of EUR 213 million or 1.03 per share, compared to EUR 302 million or EUR 1.44 per share last year.
Net sales declined to EUR 2.89 billion from EUR 3.08 billion in the year ago quarter.
For 2009, Adidas Group sales are still expected to decline at a low- to mid single-digit rate on a currency-neutral basis. The Group still projects a low- to mid-single-digit sales decline on a currency-neutral basis for the adidas brand in 2009. Reebok segment sales are also still expected to decline at a low- to mid-single-digit rate compared to the prior year on a currency-neutral basis in 2009.
The company said that net income attributable to shareholders and earnings per share are projected to decline in 2009. Due to a more moderate increase of input costs and positive impetus ahead of the 2010 FIFA World Cup, Group profitability will be significantly better in the second half compared to the first half of the year. Full year earnings per share are expected to reach a level between EUR 1.15 and EUR 1.30.
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