Adidas 1997 Annual Report Download - page 2

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adidas-Salomon AG and Subsidiaries
Selected Financial Data
(International Accounting Standards)
(DM million) 1997* 1996 1995 1994 1993
Net sales 6,698 4,709 3,500 3,196 2,544
Gross profit 2,810 1,877 1,389 1,141 827
Gross margin (%) 41.9 39.8 39.7 35.7 32.5
Income (loss) from operations 601 360 243 90 (27)
Income (loss) from operations (% of net sales) 9.0 7.6 6.9 2.8 (1.1)
Royalty and commission income 85 97 100 97 85
Financial result (31) (13) (47) (36) (33)
Income before taxes and minority interests 677 444 296 151 25
Net income 465 314 245 117 14
Net income (% of net sales) 6.9 6.7 7.0 3.7 0.6
Net income per ordinary share (DM) 10.25 6.93 5.40 2.59 0.31
Inventories 1,606 1,088 843 687 605
Receivables and other current assets 1,158 818 563 475 424
Total current assets 2,827 1,990 1,447 1,200 1,071
Total assets 4,294 2,456 1,777 1,442 1,293
Working capital 21 555 343 353 285
Total borrowings, net 1,443 340 407 300 349
Total liabilities 2,901 1,506 1,180 1,000 955
Shareholders’ equity 1,352 904 577 423 324
Net sales footwear 2,871 2,171 1,790 1,749 1,360
Net sales apparel 3,586 2,314 1,528 1,256 1,007
Net sales hardware 238 181 131 132 117
Net sales Europe 4,127 3,159 2,393 2,153 1,898
Net sales North America 1,699 1,026 767 768 490
Net sales Asia/Pacific 703 416 249 190 91
Net sales Latin America 169 108 91 85 65
Total net sales of the brand
– adidas 6,698 4,709 3,500 3,196 2,544
– Licensees 1,293 1,374 1,450 1,466 1,367
Number of employees (year-end) 7,993 6,986 5,730 5,087 5,096
* Consolidated Financial Statements for 1997 do not include Salomon S.A. and its subsidiaries.