Report of the month

September 2009

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Adidas

Herzogenaurach, Germany



Report Facts

Company name: Adidas AG
Fiscal year end: December 31, 2008
Report title: Annual Report 2008. Our game plan
Chairman and CEO: Herbert Hainer
Number of books: One
Report length: 214 pages
Auditors: KPMG
Concept and design: Häfelinger + Wagner Design
E-mail: investor.relations@adidas-group.com

Report rating (Rating scale below)

5/5
(5/5)

Profile-Products(Excerpts, as from the report)

We strive to be the global leader in the sporting goods industry....We share values such as performance, passion, integrity and diversity... The brand portfolio comprises: Adidas (two segments: Sport Performance and Sport Style); Reebok (Women’s Fitness, Rockport...); TaylorMade (Adidas Golf, Ashworth...).
(Annual Report source) (Italics are own company’s words)

Key Figures

Net sales: EUR 10,799 million
Operating profit: EUR 1,070 million
Net income: EUR 642 million
Earnings per share (basic): EUR 3.25
Dividend per share: EUR 0.50
Return on equity: 18.9%
Operating margin: 9.9%
Equity ratio: 35.5%
Number of employees: 38,982
(Source: 2008 figures sourced from the annual report)

Competitors or Rivals

  • Amer Sports
  • Nike
  • Puma
  • Callaway Golf
  • Fila Korea
  • ASICS
  • ...
 

Triple A

> Available without delay, in the inside front cover: ast year results compared to past targets and next year outlook put nearby for ten indicators (see our Selected Page below). Further, the reader may find a detailed comparison of targets with actual key metrics (p 61), as well as an in-depth outlook section.
> A strong theme, and an effective branding exercise: built around the business, in words, visuals, use of colors and gimmicks, worked out throughout the book.
> Strategies clearly set out, at corporate and divisions’ level. And substantiated: e.g. with four pages on R&D.
> Excellent review of performance and financial conditions (also on treasury matters), backed with clear charts.
> Thorough Risk and Opportunity Report.
> Comprehensive glossary and index.
 

Double A

> Good and nicely formatted Q&A with the CEO.
> Pictorial overview of products and campaigns: We define ourselves through our products.
 

Simple A

> Operational and Sporting Highlights for the year ended arranged by quarter. Fine, but why so late (p 34)?
> Sustainability issues underperform compared to the rest.
 

B sides

> Some find the book too heavy, and typography and layout not most optimized (see the way pages are (not) filled).
 

How does the company report in key areas? What are the main report pluses and minuses? The Report Scan gives an overview of strengths and weaknesses, and scores each item.
Contact e.com@reportwatch.net

 

Selected Page

(Inside front cover of Adidas Annual Report 2008)
Inside front cover  of Adidas Annual Report 2008
Rating Scale
5
First-Rate
4.5
Excellent
4
Very good
3.5
Sound
3
Average
2.5
Uneven
2
Common
1.5
Substandard
1
Poor
0.5
Uncompetitive

The rating is based on ReportWatch internal desk research and does not take into account the independent Rating Panel’s judgment.

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