Reebok 2015 Annual Report Download - page 150

146
3
GROUP MANAGEMENT REPORT – FINANCIAL REVIEW
Business Performance by Segment – Other Businesses
OTHER BUSINESSES
SALES IN OTHER BUSINESSES DECREASE 3%
In 2015, revenues of Other Businesses were down 3% on a currency-neutral basis, as high-single-digit sales
increases at Reebok-CCM Hockey as well as double-digit growth in Other centrally managed businesses
were more than offset by sales declines at TaylorMade-adidas Golf. Currency translation effects positively
impacted revenues in euro terms. Sales of Other Businesses increased 8% to € 1.467 billion (2014:
€ 1.358 billion).
TaylorMade-adidas Golf revenues declined 13% on a currency-neutral basis in 2015. This development was
due to sales decreases in most categories, in particular metalwoods and irons. Currency translation effects
positively impacted TaylorMade-adidas Golf sales in euro terms. Revenues decreased 1% to € 902 million
from € 913 million in the prior year.
Currency-neutral Reebok-CCM Hockey sales were up 8%. This increase was mainly due to strong sales
growth in key categories such as skates and protective equipment. In addition, double-digit increases in
apparel contributed to this development. Currency translation effects positively impacted sales in euro
terms. Reebok-CCM Hockey revenues increased 18% to € 317 million in 2015 from € 269 million in 2014.
Other centrally managed businesses revenues increased 35% on a currency-neutral basis, mainly as a
result of double-digit sales growth at Y-3 and Five Ten. Currency translation effects had a positive impact
on sales in euro terms. Revenues in Other centrally managed businesses increased 38% to € 242 million
in 2015 (2014: € 175 million).
OTHER BUSINESSES DEVELOPMENT BY REGION
In 2015, currency-neutral sales for Other Businesses were mixed amongst the Group’s regions. Revenues in
Western Europe were up 17% on a currency-neutral basis, driven by strong double-digit sales increases at
both Reebok-CCM Hockey and in Other centrally managed businesses, which more than offset double-digit
sales declines at TaylorMade-adidas Golf. Sales in North America were down 11% on a currency-neutral
basis as sales increases at both Reebok-CCM Hockey and in Other centrally managed businesses were more
than offset by double-digit sales declines at TaylorMade-adidas Golf. In Greater China, revenues decreased
25% on a currency-neutral basis, due to double-digit sales decreases at TaylorMade-adidas Golf. Revenues
in Russia/CIS were down 58% on a currency-neutral basis as a result of double-digit sales declines at both
TaylorMade-adidas Golf and Reebok-CCM Hockey. In Latin America, revenues were up 14% on a currency-
neutral basis, driven by double-digit sales increases at TaylorMade-adidas Golf. Sales in Japan increased
1% on a currency-neutral basis, as strong double-digit growth in Other centrally managed businesses was
partly offset by sales decreases at TaylorMade-adidas Golf. Currency-neutral sales in MEAA were up 7%,
due to high-single-digit sales increases at TaylorMade-adidas Golf, which more than offset sales decreases
in Other centrally managed businesses. With the exception of Russia/CIS, currency translation effects had
a positive impact on regional sales in euro terms.
see Table 09
see Table 10