Reebok 2013 Annual Report Download - page 66

adidas Group
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2013 Annual Report
To Our Shareholders
62
2013
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01.10
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Our Share
07
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Recommendation split 1)
1) At year-end 2013. Source: Bloomberg.
2013 1
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74% Buy
2
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19% Hold
3
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7% Sell
1
2
3
06
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Shareholder structure 1)
1) As of February 2014.
2013
1
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37% Rest of Europe
2
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32% North America
3
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14% Other, undisclosed holdings
4
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10% Germany
5
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5% Rest of the world
6
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2% Management
6
5
1
2
3
4
Dividend proposal of € 1.50 per share
The adidas AG Executive and Supervisory Boards will recommend
paying a dividend of € 1.50 to shareholders at the Annual General
Meeting (AGM) on May 8, 2014 (2012: € 1.35). Subject to the meeting’s
approval, the dividend will be paid on May 9, 2014. This represents an
increase of 11% compared to an increase of net income attributable to
shareholders, excluding goodwill impairment losses, of 6%. The total
payout of € 314 million (2012: € 282 million) reflects a payout ratio of
37.4% of net income attributable to shareholders, excluding goodwill
impairment losses, versus 35.7% in the prior year
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TABLE 08. This is in
line with our dividend policy, where we intend to pay out between 20%
and 40% of net income attributable to shareholders.
Strong international investor base
Based on our share register, we estimate that adidas AG currently has
around 60,000 shareholders. In our latest ownership analysis conducted
in February 2014, we identified around 94% of our shares outstanding.
Shareholdings in the North American market account for 32% of our total
shares outstanding. Identified German institutional investors hold 10%
of shares outstanding. The shareholdings in the rest of Europe excluding
Germany amount to 37%, while 5% of institutional shareholders were
identified in other regions of the world. adidas Group Management,
which comprises current members of the Executive and Supervisory
Boards, holds less than 2% in total
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SEE CORPORATE GOVERNANCE REPORT
INCLUDING THE DECLARATION ON CORPORATE GOVERNANCE, P. 48. Undisclosed
holdings, which also include private investors, account for the remaining
14%
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DIAGRAM 06.
Voting rights notifications published
In 2013, adidas AG published 31 voting rights notifications in accordance
with §§ 21 section 1, 25 section 1 and 25a of the German Securities Trading
Act (Wertpapierhandelsgesetz – WpHG). All voting rights notifications
received in 2013 and thereafter can be viewed on our corporate website
:
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WWW.ADIDAS-GROUP.COM/VOTING_RIGHTS_NOTIFICATIONS. Information on
reportable shareholdings that currently exceed or fall below a certain
threshold can also be found in the Notes section of this Annual
Report
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SEE NOTE 25, P. 217.
adidas AG share again receives strong analyst support
The adidas Group and the adidas AG share continued to receive strong
analyst support in 2013. Around 45 analysts from investment banks and
brokerage firms regularly published research reports on our Group. The
vast majority of analysts are confident about the medium- and long-term
potential of the Group. This is reflected in the recommendation split for
our share as at December 31, 2013. 74% of analysts recommended
investors to “buy” our share in their last publication during the
twelve-month period (2012: 60%). 19% advised to “hold” our share
(2012: 30%). 7% of the analysts recommended to “sell” our share
(2012: 10%)
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DIAGRAM 07.
Successful Investor Relations activities
adidas AG strives to maintain close contact to institutional and private
shareholders as well as analysts. In 2013, Management and the
Investor Relations team spent around 28 days on roadshows and also
spent 19 days presenting at 13 national and international conferences.
Furthermore, in order to provide an update on our Route 2015 strategic
business plan, we hosted an Investor Field Trip in Herzogenaurach from
December 2 to 3, 2013. The event was attended by more than 50 investors
and representatives of the financial community. Our efforts to deliver
best-in-class services to our investors and analysts were again highly
acknowledged in 2013. In June, the adidas Group won the prestigious
IR Magazine Award in the Personal Care & Household/Luxury Goods
sector. In addition, in an investor relations survey conducted by Thomson
Reuters, the adidas Group was ranked second again by buy-side analysts
in the sector Consumer/Luxury Goods.
In August 2013, the adidas Group 2012 Annual Report “Pushing
Boundaries” ranked second among the German DAX-30 companies
for the prestigious “Best Annual Report 2013” award granted by the
German business magazine “manager magazin”. The prize is awarded
by a jury which reviews 160 annual reports from across Germany’s most
important stock indices, the DAX-30, MDAX, SDAX and TecDAX. After
winning this title in 2007 and 2012, and coming narrowly second in 2011,
this is the fourth time the adidas Group has ranked among the top two.