Frankfurt (awp / afp) – The equipment manufacturer Adidas confirmed Thursday a net profit of 360 million euros (nearly 352 million Swiss francs) in the second quarter, announced in a preliminary way at the end of July, while the slower recovery than expected in China weighs on the outlook.
The group lowered its annual forecast at the end of July against the backdrop of health restrictions in the main Asian market.
The group expects growth of 5 to 10% of its annual global sales at constant exchange rates, against a range of 11 to 13% previously.
The net result should reach him around 1.3 billion euros, against a range between 1.8 billion and 1.9 billion euros initially planned.
While the company has so far seen “no significant slowdown in sales of its products or significant cancellations of wholesale orders” outside of China, the adjusted forecast takes into account a “potential slowdown in consumer spending” on these other markets, explains Adidas.
Second-quarter results benefited from strong momentum in Western markets and the return to growth in Asia-Pacific, excluding China.
From April to June, Adidas sales rose 4% year on year at constant exchange rates and 10% to 5.6 billion euros in euros.
afp/buc