adidas AG / Key word(s): Preliminary Results/Change in Forecast 28.07.2016 08:26 Disclosure of an inside information according to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- FOR IMMEDIATE RELEASE July 28, 2016 AD-HOC: adidas Group announces preliminary results and increases 2016 financial outlook Herzogenaurach - The adidas Group today announced preliminary results for the second quarter of 2016. Group revenues increased 21% on a currency-neutral basis and 13% in euro terms to EUR 4.4 billion. As a result of a higher gross margin as well as operating expense leverage, Group operating profit increased 77% to EUR 414 million in the second quarter of 2016 (2015: EUR 234 million). The positive impact from the early termination of the Chelsea F.C. contract, which lifted the Q2 other operating income by a mid- to high-double-digit million euro amount, also contributed to the improvement. Consequently, net income from continuing operations increased 99% to EUR 291 million (2015: EUR 146 million). Basic earnings per share from continuing and discontinued operations amounted to EUR 1.45 in the quarter, reflecting a 100% increase over the prior year level (2015: EUR 0.73). In light of the strong brand momentum, the Group has increased its 2016 financial outlook. Management now projects currency-neutral sales to grow at a rate in the high teens in 2016 (previously: increase by around 15%). As a result of the stronger than expected top-line development and further operating leverage, net income from continuing operations is now forecasted to increase at a rate between 35% and 39% to a level between EUR 975 million and EUR 1.0 billion in 2016 (previously: increase by around 25%). The Group's operating margin is now projected to increase to a level of up to 7.5% in 2016 (previously: increase to a level of around 7.0%). More details on the improved outlook will be given with the publication of the quarterly results on August 4. *** Contacts: Media Relations Investor Relations Jan Runau Sebastian Steffen Chief Corporate Communication Officer Vice President Investor Relations Tel.: +49 (0) 9132 84-3830 Tel.: +49 (0) 9132 84-4401 Katja Schreiber Christian Stoehr Senior Director Corporate Director Investor Relations Communication Tel.: +49 (0) 9132 84-4989 Tel.: +49 (0) 9132 84-3810 Jennifer Gaussmann Manager Investor Relations Tel.: +49 (0) 9132 84-74734 28.07.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: adidas AG Adi-Dassler-Straße 1 91074 Herzogenaurach Germany Phone: +49 9132 84 0 Fax: +49 9132 84 2241 E-mail: Internet: www.adidas-group.com ISIN: DE000A1EWWW0, US00687A1079, US00687P1049 WKN: A1EWWW, A0MNCC , 909676 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Terminbörse EUREX End of Announcement DGAP News-Service ---------------------------------------------------------------------------