The Group's net income attributable to shareholders increased 63% to € 21 million (2006: € 13 million) due to higher operating profit and lower net financial expenses. Net financial expenses decreased following the strong reduction of net borrowings. These positive effects more than offset a higher tax rate.
adidas Group currency-neutral sales grow 7% in 2007: In 2007, Group revenues increased 7% on a currency-neutral basis, mainly as a result of sales growth in the adidas segment. Currency movements negatively impacted Group sales in euro terms. Group revenues grew 2% to € 10.299 billion in 2007 from € 10.084 billion in 2006.
“Our Group made big strides in 2007,” commented adidas AG Chairman and CEO Herbert Hainer. “Our focus on performance and executional excellence was a big contributor to our success. I am extremely proud that all our hard work has helped the Group achieve new record sales and net income levels - and all this despite conditions that got tougher in some important markets as the year went on.”
adidas segment drives top-line growth: The adidas segment set the pace for the Group's sales growth in 2007. Currency-neutral adidas segment revenues increased 12% during the period, representing the brand's third consecutive year of double-digit growth.
Currency-neutral sales in the Reebok segment were stable as a result of the consolidation of twelve months of Reebok's revenues in 2007 versus only eleven months in the prior year.
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