Consolidated Income Statement

adidas AG Consolidated Income Statement (IFRS) € in millions

 

 

Note

 

Year ending Dec. 31, 2020

 

Year ending Dec. 31, 2019

 

Change

Net sales

 

38

 

19,844

 

23,640

 

(16.1%)

Cost of sales

 

 

 

9,990

 

11,347

 

(12.0%)

Gross profit

 

 

 

9,855

 

12,293

 

(19.8%)

(% of net sales)

 

 

 

49.7%

 

52.0%

 

(2.3pp)

Royalty and commission income

 

 

 

83

 

154

 

(46.2%)

Other operating income

 

31

 

42

 

56

 

(24.5%)

Other operating expenses

 

11, 14, 32, 33

 

9,229

 

9,843

 

(6.2%)

(% of net sales)

 

 

 

46.5%

 

41.6%

 

4.9pp

Marketing and point-of-sale expenses

 

 

 

2,573

 

3,042

 

(15.4%)

(% of net sales)

 

 

 

13.0%

 

12.9%

 

0.1pp

Distribution and selling expenses

 

 

 

4,962

 

4,997

 

(0.7%)

(% of net sales)

 

 

 

25.0%

 

21.1%

 

3.9pp

General and administration expenses

 

 

 

1,461

 

1,652

 

(11.6%)

(% of net sales)

 

 

 

7.4%

 

7.0%

 

0.4pp

Sundry expenses

 

 

 

119

 

134

 

(11.6%)

(% of net sales)

 

 

 

0.6%

 

0.6%

 

0.0pp

Impairment losses (net) on accounts receivable and contract assets

 

 

 

114

 

18

 

541.8%

Operating profit

 

 

 

751

 

2,660

 

(71.8%)

(% of net sales)

 

 

 

3.8%

 

11.3%

 

(7.5pp)

Financial income

 

34

 

29

 

64

 

(55.2%)

Financial expenses

 

34

 

204

 

166

 

23.2%

Income before taxes

 

 

 

575

 

2,558

 

(77.5%)

(% of net sales)

 

 

 

2.9%

 

10.8%

 

(7.9pp)

Income taxes

 

36

 

146

 

640

 

(77.2%)

(% of income before taxes)

 

 

 

25.4%

 

25.0%

 

0.3pp

Net income from continuing operations

 

 

 

429

 

1,918

 

(77.6%)

(% of net sales)

 

 

 

2.2%

 

8.1%

 

(6.0pp)

Gain from discontinued operations, net of tax

 

03

 

13

 

59

 

(77.5%)

Net income

 

 

 

443

 

1,977

 

(77.6%)

(% of net sales)

 

 

 

2.2%

 

8.4%

 

(6.1pp)

Net income attributable to shareholders

 

 

 

432

 

1,976

 

(78.1%)

(% of net sales)

 

 

 

2.2%

 

8.4%

 

(6.2pp)

Net income attributable to non-controlling interests

 

 

 

11

 

2

 

540.9%

 

 

 

 

 

 

 

 

 

Basic earnings per share from continuing operations (in €)

 

37

 

2.15

 

9.70

 

(77.9%)

Diluted earnings per share from continuing operations (in €)

 

37

 

2.15

 

9.70

 

(77.9%)

 

 

 

 

 

 

 

 

 

Basic earnings per share from continuing and discontinued operations (in €)

 

37

 

2.21

 

10.00

 

(77.8%)

Diluted earnings per share from continuing and discontinued operations (in €)

 

37

 

2.21

 

10.00

 

(77.8%)