Q1 revenue 5.458 bln eur, up 4% (Il Sole 24 Ore Radiocor) - Berlin , 30 Apr - The German sportswear manufacturer Adidas said it posted an attributable net profit of 170 million euros in the first quarter of 2024 compared to a loss of 39 million the year earlier.

Operating profit rose to 336 million euros from 60 million in the year earlier.

Reported revenue grew by 4% to 5.458 billion euros, amid currency headwinds. At constant currency rates, revenue rose by 8% and was driven by growth in all regions with the exception of North America.

Adidas noted that it upgraded its full-year guidance on April 16 as a result of its better-than-expected first quarter performance. It now expects currency-neutral revenue to increase at a mid- to high-single-digit rate, up from previous expectations of a mid-single-digit rate increase. The company also now projects full-year operating profit of about 700 million euros, up from previous guidance of about 500 million.

AAA-Hob

(RADIOCOR) 30-04-24 14:55:12 (0549) 5 NNNN