Reebok 2011 Annual Report Download - page 60

adidas Group
2011 Annual Report
TO OUR SHAREHOLDERS
56
2011
01.8 Our Share
01.8
adidas AG share historically outperforms
benchmark indices
The adidas Group is committed to continuously enhancing shareholder
value. The long-term development of our share price reflects investor
confidence and the growth potential of our Group. Over the last ten
years, our share has gained 138%. This represents a clear outper-
formance of the DAX-30, which increased 14% during the period.
adidas AG share member of important indices
The adidas AG share is included in a variety of high-quality indices
around the world, most importantly the DAX-30 and the MSCI World
Textiles, Apparel & Luxury Goods Index. The DAX-30 is a blue chip stock
market index consisting of the 30 major German companies trading
on the Frankfurt Stock Exchange. The MSCI World Textiles, Apparel
& Luxury Goods Index comprises our Group’s major competitors. At
December 31, 2011, our weighting in the DAX-30, which is calculated
on the basis of free float market capitalisation and twelve-month share
turnover, was 2.05% (2010: 1.69%). Our higher weighting compared
to the prior year was mainly a result of the increase in the market
capitalisation of adidas AG, which compares to declines of most other
companies included in the index. Within the DAX-30, we ranked 16
on market capitalisation (2010: 16) and 21 on turnover (2010: 23) at
year-end 2011.
Strong sustainability track record reflected in
index memberships
In recognition of our social and environmental efforts, adidas AG is
listed in several sustainability indices. For the twelfth consecutive time,
adidas AG has been included in the Dow Jones Sustainability Indexes
(DJSI). The Indexes analyse and track the social, environmental and
financial performance of more than 300 companies worldwide. In
addition, adidas AG was again included in the FTSE4Good Europe Index,
the Vigeo Group’s Ethibel Sustainability Index Excellence Europe as well
as in the ASPI Eurozone Index. Further, in 2011, the adidas Group was
included for the seventh consecutive time in the list of The Global 100
Most Sustainable Corporations in the World. This is a project initiated
by Corporate Knights Inc. with Innovest Strategic Value Advisors Inc.,
a research firm specialised in analysing extra-financial drivers of risk
and shareholder value. Launched in 2005, the annual list of The Global
100 Most Sustainable Corporations in the World is unveiled each year
at the World Economic Forum in Davos, Switzerland. In addition, as
of September 2011, adidas AG is a constituent of the STOXX Global
ESG Leaders indices. The index family is made up of three specialised
indices for the categories environmental, social and governance
(ESG), and one broad index which sums up the specialised indices. In
detail, these are the STOXX Global ESG Environmental Leaders, STOXX
Global ESG Social Leaders, STOXX Global ESG Governance Leaders
and STOXX Global ESG Leaders indices. The index family is based
on relevant key perform ance indicators (KPIs) provided by the index
partner Sustainalytics, a leading global provider of ESG research and
analysis TABLE 01 .
Dividend proposal of € 1.00 per share
The adidas AG Executive and Supervisory Boards will recommend
paying a dividend of € 1.00 to shareholders at the Annual General
Meeting (AGM) on May 10, 2012 (2010: € 0.80). Subject to the meeting’s
approval, the dividend will be paid on May 11, 2012. This represents an
increase of 25% compared to an increase of net income attributable
to shareholders of 18%. The total payout of € 209 million (2010:
€ 167 million) reflects a payout ratio of 31% of net income attributable
to shareholders versus 30% in the prior year. 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 55,000 shareholders. In our latest ownership analysis
conducted in February 2012, we identified 90% of our shares
outstanding. Shareholdings in the North American market account
for 37% of our total shares outstanding. Identified German institu-
tional investors hold 10% of shares outstanding. The shareholdings
in the rest of Europe excluding Germany amount to 33%, while 7%
06 Shareholder structure 1)
1) As of February 2012.
2011
1 37% North America
2 33% Rest of Europe
3 11% Other, undisclosed holdings
4 10% Germany
5 7% Rest of the world
6 2% Management
6
5
1
2
3
4
05 Five-year share price development 1)
| Dec. 31, 2006 Dec. 31, 2011 |
180
140
100
60
adidas AG DAX-30 MSCI World Textiles, Apparel & Luxury Goods Index
1) Index: December 31, 2006 = 100.