Reebok 2007 Annual Report Download - page 85

081
ANNUAL REPORT 2007 --- adidas Group
03
ADIDAS SEGMENT DRIVES TOP-LINE GROWTH The adidas
seg ment set the pace for the Group’s organic sales growth in
2007. Currency-neutral adidas segment revenues increased
12 % during the period.
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.
On a like-for-like basis, Reebok segment sales declined by 5 %
in 2007. This like-for-like comparison of Reebok segment
revenues refl ects sales for the full twelve-month periods of
both years. It also includes GNC retail sales which were trans-
ferred from the TaylorMade-adidas Golf segment to the Reebok
segment, effective January 1, 2007. However, it excludes sales
related to the NBA and Liverpool licensed businesses. These
were transferred to brand adidas in the fi rst half of 2006.
At TaylorMade- adidas Golf, currency-neutral revenues
increased 1 %, negatively impacted by the divestiture of the
GNC wholesale business. On a like-for-like basis, TaylorMade-
adidas Golf sales increased 9 %.
In the HQ / Consolidation segment, we record revenues not
attributable to the adidas, Reebok or TaylorMade-adidas Golf
segments. In 2007, the HQ / Consolidation segment primarily
comprised sales of Salomon products as part of our coopera-
tion agreement with Amer Sports Corporation. The agreement
was entered into to support the transfer of Salomon’s busi -
ness activities to Amer Sports Corporation. Compared to the
prior year, sales decreased by 60 % on a currency-neutral
basis. This development was mainly due to the expiration of
the Salomon footwear sourcing cooperation agreement.
Currency translation effects negatively impacted sales in all
segments in euro terms. adidas sales increased 7 % to
€ 7.113 billion in 2007 from € 6.626 billion in 2006. Sales at
Reebok decreased 6 % to € 2.333 billion versus € 2.473 billion
in the prior year. TaylorMade-adidas Golf sales declined 6 %
to € 804 million in 2007 from € 856 million in 2006. HQ /
Consolidation sales decreased 62 % to € 48 million from
€ 129 million in the prior year.
2007 NET SALES BY SEGMENT 1)
1
)
HQ / Consolidation accounts for less than 1 % of sales.
Reebok 2
3
%
TaylorMade-
adidas Golf 8
%
69
%
adidas
NET SALES BY REGION
€
in million
s
North Latin
Europe America Asia America
To
t
al
l
1)
2003
2004 2)
2005 2)
2006 3)
2
007
1) Including HQ / Consolidation.
2) Fi
g
ures refl ect continuin
g
operations as a result of the divestiture of the Salomon
b
usiness se
g
ment
.
3)
Including Reebok business segment from February 1, 2006 onwards
.
I
ncluding Greg Norman apparel business from February 1, 2006 to November 30, 2006
.
3,365 1,562 1,116 179 6
,
26
7
7
3,068 1,332 1,192 224
5,
860
3,166 1,561 1,523 319 6,6
3
6
4,162 3,234 2,020 499
1
0
,
08
4
4
4,369 2,929 2,254 657 10,299
7
4
9
2007 NET SALES BY REGION 1)
1) Excluding HQ / Consolidation.
Latin America
6
%
Asia
2
2
%
43
%
Europe
2
9
%
North America
2007 NET SALES GROWTH (CURRENCY-NEUTRAL) 1)
by se
g
ment and re
g
ion in
%
2007 NET SALES GROWTH (IN €) 1)
by se
g
ment and re
g
ion in %
North Latin
Europe America Asia America
T
ota
l
l
adidas
Reebok 2)
TaylorMade-adidas Golf 3)
To
t
al
1)
Versus the prior year.
2
) Reebok 2006 results only included eleven months of the twelve-month
p
eriod
.
3
) TaylorMade-adidas Golf results included Greg Norman apparel business
f
rom Februar
y
1, 2006 to November
3
0, 2006.
North Latin
Europe America Asia America
T
o
t
al
l
adidas
Reebok 2)
TaylorMade-adidas Golf 3)
T
ota
l
1
) Versus the
p
rior year.
2)
Reebok 2006 results only included eleven months of the twelve-month period
.
3)
TaylorMade-adidas Golf results included Gre
g
Norman apparel business
f
rom February 1, 2006 to November 30, 2006.
8 5 17 39
12
(1) (5) 24 32
0
5 (9) 20 32
1
7 (2) 18 38 7
7
8
7
8
2)
7 (3) 11 34
7
7
(3) (13) 18 21
(
6
)
3 (16) 11 20
(
6
)
5 (9) 12 32 2
2
5
2
9)