Financial Data and Key Metrics Changes - Sales for Q1 2023 were €5.3 billion, essentially flat on a currency-neutral basis, but up 7% when excluding the Yeezy business [7] - Gross profit margin decreased by 510 basis points, primarily due to discounts and inventory write-offs, with expectations to return towards 50% in the future [7] - Operating expenses increased by approximately €110 million, leading to a small profit of €60 million, which was better than expected given prior forecasts of a small loss [8] Business Line Data and Key Metrics Changes - Footwear sales reached €3 billion, up 1%, while apparel sales decreased by 3% to nearly €2 billion, indicating a higher inventory of apparel compared to footwear [25] - The accessory business grew by 8%, contributing to a split of 57% footwear, 37% apparel, and 6% accessories [26] - Performance categories showed double-digit growth, except for training, which remained flat [27] Market Data and Key Metrics Changes - North America experienced a dramatic 20% decline in sales, but when excluding Yeezy, the decline was only 5% [9] - EMEA showed a slight increase of 9% when excluding Russia, indicating positive growth in the region [16] - China reported a 9% decline, but sell-through rates were up double digits, suggesting potential for recovery [17][20] Company Strategy and Development Direction - The company is heavily investing in women's soccer, with jerseys developed for teams participating in the upcoming Women's World Cup [6] - Strategic initiatives include extending the MLS contract and enhancing soccer culture in the U.S. [10] - The focus remains on improving the core business areas of design, development, sourcing, and marketing to build a stronger foundation for future growth [58] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing geopolitical tensions and macroeconomic challenges but noted some positive trends, such as decreasing inflation and normalizing freight costs [62] - The company confirmed guidance for 2023 as a transition year, expecting a high single-digit decline in net sales and a breakeven operating model [63] - There is optimism about regaining market share in China as local brands begin to saturate [74] Other Important Information - The company is working on various exit options for the Yeezy inventory, with decisions expected in the mid-term [75] - Inventory levels are currently at €5.7 billion, with €500 million attributed to Yeezy, indicating a need for better inventory management [51][52] Q&A Session Summary Question: Comments on market share between Western and local Chinese brands - Management noted that while local brands have gained market share, there are signs of saturation, and Western brands, including Adidas, are expected to regain some market share [73][74] Question: Distribution points in China and future store openings - The number of sales points in China is around 8,000, with expectations to open more stores in lower-tier cities as the business stabilizes [78][79] Question: Route to margin improvement and gross margin targets - Management indicated that gross margins should improve from the current low levels, with a target of reaching 10% EBIT in the mid-term [80][83]

adidas AG (OTCQX:ADDYY) Q4 2022 Earnings Conference Call March 8, 2023 9:00 AM ET Company Participants Sebastian Steffen - Head of Investor Relations Bjorn Gulden - Chief Executive Officer Harm Ohlmeyer - Chief Financial Officer Conference Call Participants Graham Renwick - Berenberg Erwan Rambourg - HSBC Geoff Lowery - Redburn Warwick Okines - BNP Paribas Jurgen Kolb - Kepler Cheuvreux Cedric Lecasble - Stifel Nicolaus James Grzinic - Jefferies International Edouard Aubin - Morgan Stanley Olivia Townsend - ...

adidas AG (OTCQX:ADDYY) Q3 2022 Earnings Conference Call November 9, 2022 9:00 AM ET Company Participants Sebastian Steffen - Head, Investor Relations Kasper Rorsted - Chief Executive Officer Harm Ohlmeyer - Chief Financial Officer Conference Call Participants Jurgen Kolb - Kepler Cheuvreux. Warwick Okines - BNP Paribas Exane Adam Cochrane - Deutsche Bank Geoff Lowery - Redburn David Roux - Bank of America Thomas Chauvet - Citi Omar Saad - Evercore ISI James Grzinic - Jefferies International Aneesha Sherman ...

Q3 2022 RESULTS NOVEMBER 09, 2022 adidas AGENDA l 2 3 4 | --- | --- | --- | |--------------------|-------|-------| | | | | | FINANCIAL UPDATE | | | | OPERATIONAL UPDATE | | | | OUTLOOK | | | | | | | | | | | adidas 2 e BUSINESS UPDATE . . CONSUMER - Pro Comment adidas w A WARD Concess of Sale 4 0 adidas MORE IS POSSIBLE IMPOSSIBLE IS NOTHING ~~ SUSTAINABILITY CREDIBILITY EXPERIENCE adidas STRENGTHS & WEAKNESSES | --- | --- | |----------------------------------------------------------------------------------- ...

Q2 2022 RESULTS AUGUST 4, 2022 adidas AGENDA l 3 | --- | --- | --- | --- | --- | --- | |------------------|-------|-------|-------|-------|-------| | | | | | | | | FINANCIAL UPDATE | | | | | | 2 adidas 2 FACING CONTINUED UNCERTAINTY WAR INFLATIONARY CONSUMER SUPPLY CHAIN CHINA MARKET ENVIRONMENT PRESSURE SPENDING CHALLENGES adidas KEY TAKEAWAYS | --- | --- | --- | --- | --- | |-------|-------------------------------------------------------------------------------------------|-------|-------|-------| | l | S ...

adidas AG (OTCQX:ADDYY) Q2 2022 Earnings Conference Call August 4, 2022 9:00 AM ET Company Participants Sebastian Steffen - Head, Investor Relations Kasper Rorsted - Chief Executive Officer Harm Ohlmeyer - Chief Financial Officer Conference Call Participants Grace Smalley - JPMorgan Graham Renwick - Berenberg Aneesha Sherman - Bernstein Cédric Lecasble - Stifel Jurgen Kolb - Kepler Cheuvreux Zuzanna Pusz - UBS James Grzinic - Jefferies International Thomas Chauvet - Citi Research John Kernan - Cowen Warwick ...

Financial Data and Key Metrics Changes - The company reported a strong set of results for 2021, adding almost €3 billion to the top line despite external challenges [20] - Gross margin increased by 0.7 percentage points to 50.7%, while operating profit rose by more than 150% [20][33] - Net income from continued operations improved by over €1 billion, supported by a tax benefit related to the Reebok divestiture [21][33] Business Line Data and Key Metrics Changes - The North American business grew by 17%, with strong growth in D2C channels [22] - EMEA business saw a 24% increase, with D2C growing by 20% year-over-year [22] - Latin America experienced a remarkable 47% growth, driven by strong demand across various categories [18][22] Market Data and Key Metrics Changes - EMEA, North America, and Latin America collectively grew by 23% in 2021, reflecting strong demand for the brand [22] - Greater China reported a modest 3% growth due to a challenging market environment and COVID-19 lockdowns [22][29] - The company faced significant supply chain constraints, impacting sales and leading to product outages and shipping delays [19][29] Company Strategy and Development Direction - The "Own the Game" strategy focuses on consumer trends such as At Leisure, Betterment, Digital, Sustainability, and Premiumization [10] - The company aims to invest consistently in people, innovation, and digital transformation to drive growth [10][11] - Sustainability remains a key focus, with a target of 90% of products being sustainable by 2025, achieving a 69% share in 2021 [17] Management's Comments on Operating Environment and Future Outlook - The management acknowledged the ongoing challenges posed by the war in Ukraine, COVID-19 restrictions, and supply chain issues [45] - Despite these challenges, the company remains optimistic about long-term growth opportunities and plans to drive double-digit improvements in 2022 [45][64] - The company is committed to investing close to €3 billion in brand campaigns and product launches to accelerate growth [46] Other Important Information - The company plans to return between €8 billion to €9 billion to shareholders through dividends and share buybacks by 2025 [41][42] - A dividend of €3.3 per share is proposed for 2021, representing a 10% increase from the previous year [43] - The company appointed a new Chief Creative Officer to lead its design community and shape the brand's future direction [48] Q&A Session Summary Question: How is the company addressing the challenges in Greater China? - The company has developed a detailed action plan to achieve mid-single-digit growth in Greater China, focusing on localized campaigns and product creation [60][61] Question: What are the expectations for the 2022 financial outlook? - The company projects currency-neutral revenues to increase by 11% to 13%, with a gross margin expected to reach between 51.5% and 52% [64][65]

France MARCH 9, 2022 Facidas THE HEALTH AND SAFETY OF OUR EMPLOYEES ARE OUR MAIN PRIORITIES adidas CK ON CENTER STAGE EREATBRITA adidas 2321 -2 8 adidas hreat and and BY SNOW (9) Emirates nirates BETTER e CUNFIRMED A. TERREX Golden 0 adidas Ticket 9 PRIMEGREEN POSSIBLE IS NOTHING adidas FEEL THE BOOS AGENDA l 2 3 4 | --- | --- | --- | |------------------|-------|-------| | | | | | STRATEGIC UPDATE | | | | | | | | BUSINESS UPDATE | | | | FINANCIAL UPDATE | | | | OUTLOOK | | | | | | | | | | | adidas 5 STRAFE ...

adidas Q3 2021 RESULTS NOVEMBER 10, 2021 Ontinental" AGENDA l 2 3 4 5 | --- | --- | --- | --- | |-------------------------------|-------|-------|-------| | | | | | | INTRODUCTION BUSINESS UPDATE | | | | | FINANCIAL UPDATE | | | | | OPERATIONAL UPDATE | | | | | OUTLOOK | | | | | | | | | | | | | | adidas INTRODUCTION CEO KASPER RORSTED PEOPLE - S T CONSUMER SUSTAINABILITY 151 GROWTH SPORT SOLVAONNI adidas OUR PEOPLE OWN THE GAME Forbes 2021 WORLD'S BEST EMPLOYERS s 4 10% adidas OUTSTANDING ESG RATING AWARDED ...

Call Start: 09:00 January 1, 0000 10:12 AM ET adidas AG (OTCQX:ADDYY) Q3 2021 Earnings Conference Call November 10, 2021, 9:00 AM ET Company Participants Sebastian Steffen – Head of Investor Relations Kasper Rorsted – CEO Harm Ohlmeyer – CFO Operator Ladies and gentlemen, thank you for standing by. Welcome and thank you for joining the adidas AG Q3 2021 Conference Call. Throughout today's recorded presentation, all participants will be in a listen-only mode. Presentation will be followed by a question-and-a ...