Report
Andreas Riemann ...
  • Martin Marandon-Carlhian

Adidas : Positive FY 2022 outlook statements, double-digit growth from Q2 onwards

>Q4 earnings below on higher operating costs - Sales for Q4 2021 decreased 3% y-o-y excluding FX to € 5.1bn, i.e. some 2% below expectations. In terms of regions, EMEA (up 15%) and North America (down 4%) are doing OK given supply chain constraints. However, Greater China decreased again (down 24%), still penalised by discussions around forced labour which led to lower demand for Western brands in general. As retail was prioritised, the channel was flat in Q4 while th...
Underlying
Adidas AG

ACM Managed Dollar Income Fund is a non-diversified, closed-end management investment company. This closed-end investment fund is designed for investors who seek high current income and capital appreciation. In order to achieve this objective, Co. invests primarily in high-yielding, U.S. and non-U.S. fixed income securities, denominated in U.S. dollars, that it expects to benefit from improving economic and credit fundamentals. Co. may utilize leverage through the investment techniques of reverse repurchase agreements and dollar rolls. As of Sept 30 2007, Co. had total assets of $192,614,325 and investment portfolio totalled $178,906,534.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Andreas Riemann

Martin Marandon-Carlhian

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