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Group 10
Adidas
1
Conten
t
Introduction
Horizontal Vertical analysis
Ratio
Risk/Strategy analysis
summary
2
Introduction
On August 18, 1949 ， Adidas AG registered
December 31（€ in millions）
Assets Current assets Non-current assets
Total assets
2013 2012 Amount Percent
6,857 6,877 (20) (0.29%) 4,742 4,774 (32) (0.67%) 11,599 11,651 (52) (0.45%)
11,599 11,651 (52) (0.45%)
4
Adidas
Condensed income statements
For the years ended December 31（€ in millions）
Net sales Cost of sales Gross profit Selling and administrative expenses Income from operation Other income and expenses Royalty and commission income Other operating income Financial income Goodwill impairment losses Financial expenses Income before income taxes Income tax expense Net income
A German multinational corporation that designs and manufactures sports shoes, clothing and accessories.
Adidas is the largest sportswear manufacturer in Europe and the second biggest in the world, after Nike.
Increase or decrease during 2013
2013 2012 Amount Percent
4454 4137 317 7.66% 790 524 266 50.76% 5244 4661 583 285 207 78 37.68% 4959 4454 505 11.34%
In the horizontal analysis of the statement of financial position the ending retained earnings increased 11.34%. As indicated earlier, the company retained a significant portion of net income.
In August 2005, Adidas announced a $ 3.8
billion US dollar acquisition of rival Reebo k
3
Horizontal analysis
Adidas
Condensed statements of Financial position
This changes suggested that the company decreased its assets base during 2013 and financed its assuming longterm debt rather than retained income .
Liabilities
Increase or decrease during 2013
2013 2012 Amount Percent
14492 14883 (391)
7352 7780 (428)
7140 7103 37
6133 6150 (17)
1007 953
54
(2.63%) (5.50%) 0.52% (0.27%) 5.67%
Equity Share capital Retained earnings Reserves Non-controlling interests
Total equity
209 4,959 321
(8) 5,481
209 4,454 641 (13) 5,291
0 505 (320)
5 190
0.00% 11.34% (49.92%) 38.46% 3.59%
Current liabilities
4,732 4,374 358
8.18%
Non-current liabilities
1,386 1,986 (600) (30.81%)
Total liabilities
6,118 6,360 (242) (3.81%)
Total equity and liabilities
5
Adidas
Retained earnings statements
For the years ended December 31（€ in millions）
Retained earnings，Jan.1 Add : Net income
Deduct: Dividends Retained earnings，Dec.31
104 105 143 127 26 36 52 265 94 105 1134 851 344 327 790 524
(1) (0.95%)
16 12.60%
(10) (27.78%)
(213) (80.38%)
Baidu Nhomakorabea
(11) (10.48%)
283 33.25%
17
5.20%
266 50.76%
Overall, gross profit and net income were up. Gross profit increased 0.52%, and net income, 50.76%. Adidas’s profit trend appears favorable.
