Reebok 2013 Annual Report Download - page 153

adidas Group
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2013 Annual Report
Group Management Report – Financial Review
149
2013
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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 in all regions
except Greater China. Revenues in Western Europe were up 3% on a
currency-neutral basis due to sales growth at Other Centrally Managed
Brands and TaylorMade-adidas Golf. Sales at Reebok-CCM Hockey
and Rockport declined at a high-single-digit rate. Sales in European
Emerging Markets increased 1% on a currency-neutral basis. Strong
growth at Rockport was partly offset by sales declines at Reebok-CCM
Hockey. Revenues at TaylorMade-adidas Golf grew at a low-single-digit
rate. Currency-neutral sales in North America rose 6%, driven by growth
at Reebok-CCM Hockey and TaylorMade-adidas Golf, where revenues
grew at a double-digit rate and mid-single-digit rate, respectively.
Sales at Rockport also increased, while revenues at Other Centrally
Managed Brands were below the prior year level. Revenues in China
decreased 12% on a currency-neutral basis as a result of sales declines
at TaylorMade-adidas Golf. Sales in Other Asian Markets grew 5% on
a currency-neutral basis, driven by double-digit increases at Rockport.
Revenues at TaylorMade-adidas Golf increased at a low-single-digit rate.
In Latin America, currency-neutral sales rose 2%, as a result of growth
at TaylorMade-adidas Golf, which more than offset revenue declines at
Rockport. Currency translation effects had a negative impact on regional
sales in euro terms
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TABLE 20.
Other Businesses development by segment
In 2013, TaylorMade-adidas Golf revenues increased 3% on a currency-
neutral basis. Growth was mainly due to the first-time consolidation
of Adams Golf starting in the second quarter of 2012. adidas Golf also
contributed to this development, with double-digit growth in footwear.
Currency translation effects negatively impacted TaylorMade-adidas
Golf sales in euro terms. Revenues decreased 4% to € 1.285 billion from
€ 1.344 billion in the prior year.
Rockport revenues increased 6% on a currency-neutral basis, mainly
due to sales growth related to Rockport’s lightweight concepts.
Currency translation effects negatively impacted sales in euro terms.
Revenues in the Rockport segment increased 1% to € 289 million (2012:
€ 285 million).
20
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Other Businesses net sales by region (€ in millions)
2013 2012 Change Change
(currency-neutral)
Western Europe 314 312 1% 3%
European Emerging Markets 52 55 (7%) 1%
North America 1,091 1,067 2% 6%
Greater China 36 42 (13%) (12%)
Other Asian Markets 432 478 (10%) 5%
Latin America 21 22 (4%) 2%
Total 1) 1,946 1,977 (2%) 5%
1) Rounding differences may arise in totals.
19
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Other Businesses net sales by segment
1
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66% TaylorMade-adidas Golf
2
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15% Rockport
3
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13% Reebok-CCM Hockey
4
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6% Other Centrally Managed
Brands
18
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Other Businesses net sales by region
1
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56% North America
2
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22% 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
2013
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2013
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