Reebok 2012 Annual Report Download - page 177

adidas Group
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2012 Annual Report
Group Management Report – Financial Review
155
2012
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03.3
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Business Performance by Segment
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Other Businesses Performance
Other Businesses development by region
Currency-neutral sales of Other Businesses increased at a double-
digit rate in all regions. Revenues in Western Europe were up 16% on
a currency-neutral basis due to double-digit sales growth at Other
Centrally Managed Brands and TaylorMade-adidas Golf. Sales at
Reebok-CCM Hockey grew at a low-single-digit rate, and revenues at
Rockport declined at a double-digit rate. Sales in European Emerging
Markets increased 17% on a currency-neutral basis, driven by strong
double-digit growth at Rockport. Revenues at Reebok-CCM Hockey and
TaylorMade-adidas Golf were up at a high-single- and mid-single-digit
rate, respectively. Currency-neutral sales in North America rose 19%,
due to double-digit growth at TaylorMade-adidas Golf and Reebok-CCM
Hockey. Sales at Other Centrally Managed Brands and Rockport
increased at a strong double-digit and low-single-digit rate, respectively.
Revenues in Greater China were up 10% on a currency-neutral basis
as a result of strong growth at TaylorMade-adidas Golf. Sales in Other
Asian Markets grew 12% on a currency-neutral basis, due to double-
digit increases at TaylorMade-adidas Golf, which more than offset a
mid-single-digit decline at Rockport. In Latin America, currency-neutral
sales grew 37%, as a result of strong double-digit growth at TaylorMade-
adidas Golf and Rockport. Currency translation effects had a positive
impact on regional sales in euro terms
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TABLE 19.
Other Businesses development by segment
In 2012, TaylorMade-adidas Golf revenues grew 20% on a currency-
neutral basis. Growth was primarily due to TaylorMade, where major
categories such as metalwoods and irons increased at strong double-
digit rates. In addition, the first-time consolidation of Adams Golf in
the second quarter of 2012 positively contributed to the development.
Sales for adidas Golf and Ashworth increased at a high-single-digit
rate and strong double-digit rate, respectively. Currency translation
effects positively impacted TaylorMade-adidas Golf sales in euro terms.
Revenues increased 29% to € 1.344 billion from € 1.044 billion in the
prior year.
Rockport revenues increased 2% on a currency-neutral basis, supported
by several new product initiatives around Rockport’s lightness concept.
Currency translation effects positively impacted sales in euro terms.
Revenues in the Rockport segment increased 9% to € 285 million (2011:
€ 261 million).
19
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Other Businesses net sales by region (€ in millions)
2012 2011 Change Change
(currency-neutral)
Western Europe 312 259 21% 16%
European Emerging Markets 55 45 22% 17%
North America 1,067 827 29% 19%
Greater China 42 34 21% 10%
Other Asian Markets 478 398 20% 12%
Latin America 22 15 43% 37%
Total 1) 1,977 1,580 25% 17%
1) Rounding differences may arise in totals.
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Other Businesses net sales by segment
1
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68% TaylorMade-adidas Golf
2
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15% Rockport
3
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12% Reebok-CCM Hockey
4
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5% Other Centrally Managed
Brands
17
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Other Businesses net sales by region
1
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54% North America
2
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24% Other Asian Markets
3
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16% Western Europe
4
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3% European Emerging Markets
5
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2% Greater China
6
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1% Latin America
2012
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2012
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