阿迪达斯Adidas AG（ADDDF） 1999年年度报告「OTC」.pdf

1、adidas-Salomon Annual Report 1999adidas-Salomon“To be the best portfolio of sports brands in the world”adidasAthletic footwear and apparel for all-season categories such as running,soccer,basketball,tennis,training,workout,etc.Bonfire Snowboarding apparelErima Team equipment for soccer and other tea

2、m sportsMavic Cycling components:wheels,rims,gearshiftsSalomon Winter sports products:skis,snowboards,bindings and boots;summer sports products:in-line skates and hiking bootsTaylor Made Golf equipment:clubs,balls,accessories199919991998ChangeEURO mDM mDM min%Net sales5,35410,4719,907+5.7Gross profi

3、t2,3524,6004,154+10.7Operating profit482942814+15.7Income before taxes and minority interests398779624+24.9Net income228445401+11.1Shareholders equity6801,330906+46.8EURODMDMEarnings per share5.029.828.84+11.1%Gross margin43.941.9+2.0 PPOperating margin9.08.2+0.8 PPProfit margin4.34.0+0.3 PPReturn o

4、n capital employed20.720.5+0.2 PPIncome before taxes at record level,significant increase in profit contribution from Salomon andTaylor Made,strong sales growth Income before taxes up 25%to all-time high of DM 779 million Earnings per share at DM 9.82 an improvement of 11%compared to previous year(b

5、efore special effect in 1998)Operating profit contribution from Salomon and Taylor Made increased by DM 80 millionor 163%due to innovative products and successful integration Net sales grew by 6%to DM 10.5 billion1999:Key Points in BriefnIncome before taxes and minority interestsnNet income*before s

6、pecial effect*before special effect19951996199719981999NET SALES(DM bn)121086421995199619971998*1999INCOME(DM m)8007006005004003002001001995199619971998*1999EARNINGS PER SHARE(DM)nnnnn121086421Table of ContentsTable of ContentsPresidents Letter2Management Discussion and Analysis5The adidas-Salomon G