阿迪达斯Adidas AG (ADDDF) 2002年年度报告「OTC」.pdf

1、adidas-SalomonANNUAL REPORT 2002PASSION FOR SPORT SPORT IS ABOUTEXCELLING AS AN INDIVIDUAL.ABOUT WORKING TOGETHER AS A TEAM.SPORTCELEBRATES AND ADVANCES THE IDEALS OFFAIRNESS,COMPETITION AND EXCELLENCE.SPORT MEANS DIFFERENT THINGS TO DIFFERENT PEOPLE.BUT THERE IS ONETHING COMMON TO ALL:PASSION.AND I

2、TSEXACTLY THAT PASSION THAT DEFINES EVERYTHING WE DO.2002 TARGETSOUR TARGETS2003 TARGETS2002 RESULTSGROW SALES BY AT LEAST 5%INTRODUCE TWO REVOLUTIONARY adidas FOOTWEAR INNOVATIONS:CLIMACOOL(SALES TARGET:500,000 PAIRS)a3(SALES TARGET:250,000 PAIRS)DELIVER DOUBLE-DIGIT CURRENCY-NEUTRALSALES GROWTH IN

3、 ASIA,NORTH AMERICA AND AT TAYLORMADE-adidas GOLFDELIVER GROSS MARGIN OF 41 TO 43%IMPROVE DSO AND STOCK TURN FOR THEGROUP REDUCE DEBT BY UP TO 100 MILLION DRIVE BOTTOM-LINE EARNINGS UP 5 TO 10%INCREASE SHAREHOLDER UNDERSTANDINGAND CONFIDENCE IN GROUP STRATEGYSALES GREW 7%TO REACH RECORD LEVEL OF 6.5

4、 BILLIONNEW adidas INNOVATIONS STRONGLYRECEIVED:CLIMACOOL(1 MILLION PAIRS SOLD)a3(500,000 PAIRS SOLD)CURRENCY-NEUTRAL SALES GREW 23%IN ASIA,14%IN NORTH AMERICA AND 37%AT TAYLORMADE-adidas GOLFGROSS MARGIN REACHED 43.2%INVENTORIES REDUCED BY 7%,RECEIVABLES UP LESS THAN SALES GROWTH,AGING IMPROVED DEB

5、T REDUCED BY 181 MILLION EARNINGS UP 10%TOP DAX-30 PERFORMER AGAIN IN 2002 GROW SALES BY AROUND 5%EXPAND AND COMMERCIALIZE adidas FOOTWEAR TECHNOLOGY:CLIMACOOL2(SALES TARGET:2 MILLION PAIRS)a3(SALES TARGET:750,000 PAIRS)DELIVER DOUBLE-DIGIT CURRENCY-NEUTRALSALES GROWTH IN ASIA AND NORTH AMERICADELIV

6、ER GROSS MARGIN OF 42 TO 43%DECREASE WORKING CAPITAL AS A PERCENTAGE OF NET SALESREDUCE DEBT BY AT LEAST 100 MILLION DRIVE EARNINGS GROWTH OF 10 TO 15%MAINTAIN AND EXPAND SHAREHOLDER CONFIDENCE/PASSION FOR SPORT PASSION FOR SPORT/Passion/Financial Highlights/Letter to the ShareholdersPASSION FOR SPO