In developed economies, economic output is projected to decrease 7.0% in 2020 amid lockdown measures and other restrictions to limit the far-reaching consequences of the pandemic. Carrying amounts of financial instruments and their fair values including hierarchy according to IFRS 13 € in millions. While store traffic remains below prior year, levels, targeted efforts to revitalize retail have led to sequential improvements since stores reopened. Total current liabilities increased 18% to € 9.137 billion at the end of June 2020 (2019: € 7.774 billion). As a percentage of sales, marketing and point-of- sale expenses rose by 2.5 percentage points to 15.2% in the first half of 2020 (2019: 12.7%). Operating expenses were down 19% to € 96 million, mainly reflecting a decrease in operating overhead costs.
Among developing economies, the spread of the coronavirus overwhelmed health care systems and weighed heavily on private consumption and retail sales. Consequently, both basic and diluted EPS from continuing and discontinued operations were negative € 1.35 (2019: positive. The preparation of financial statements in conformity with IFRS requires the use of assumptions and estimates that affect reported amounts and related disclosures.
adidas brand revenues were down 11% on a currency-neutral basis. Emerging Markets at a glance € in millions, GLOBAL ECONOMY TO CONTRACT IN 2020 DUE TO CORONAVIRUS PANDEMIC 2. Compared to December 31, 2019, total inventories increased by € 1,128 million, which is mainly a consequence of the worldwide coronavirus pandemic. While a more favorable channel mix due to the exceptional e-commercegrowth as well as lower sourcing costs had a positive effect on gross margin, a less favorable pricing mix due to increased promotional activity and negative currency fluctuations weighed on the development in the first half of 2020. as prices) or indirectly (i.e. A large part of the earn-out component has been converted into a promissory note while a further part, which is due in the short term, is recognized as other financial assets. Shifts in the share of sales and attributable earnings of particular product categories or in the regional composition may occur throughout the year. Reebok brand revenues decreased 23% on a currency-neutral basis due to double-digit declines in both Sport and Classics. Operating expenses as a percentage of sales increased, 8.8 percentage points to 38.2%. Based on the authorization to repurchase and use treasury shares granted to the Executive Board of adidas AG by the Annual General Meeting on May 12, 2016, the company started the first tranche of a share buyback program on March 22, 2018 which was concluded on December 4, 2018. In the first six months of 2020, adidas recorded an operating loss of € 268 million (2019: profit of € 1.518 billion), resulting in a negative operating margin of 3.2% (2019: positive 13.3%). Business development in the first half of 2020 was significantly influenced by the effects of the coronavirus pandemic.
SEE TABLE 1 The operating profit development in the first half of 2020 was significantly impacted by several coronavirus-related charges. The decline in cash generated from operating activities and the increase in operating working capital were partly offset by effective.
This is where your personal bookmarks are stored. derived from prices). Operating expenses as a percentage of sales increased 13.2 percentage points to 37.2%. On a currency- neutral basis, operating working capital was up 10%. 2019 Annual Report. 1 In the period from January 7, 2020 up to and including March 16, 2020. Consequently, on June 30, 2020, the nominal capital of adidas AG amounted to € 200,416,186 divided into 200,416,186 registered no-par-value shares. Only these items are reported to the chief operating decision maker on a regular basis. While a more favorable channel mix due to the exceptional.
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