Adidas AG 3Q 2014 -- Forecast

FRANKFURT--The following is a summary of analysts' forecasts for adidas AG (ADS.XE) third-quarter results, based on a poll of 15 analysts conducted by Dow Jones Newswires (figures in million euros, EPS, dividend and target price in euro, according to IFRS). Earnings figures are scheduled to be released November 6.

=== 
                                                Net 
                     Net   operating         attrib. 
3rd Quarter        sales      profit    EBT  income     EPS 
AVERAGE            4,011         396    380     268    1.27 
Prev. Year         3,879         463    442     316    1.51 
+/- in %            +3.4         -14    -14     -15     -16 
 
MEDIAN             4,031         395    378     266    1.27 
Maximum            4,061         427    407     285    1.36 
Minimum            3,918         379    366     258    1.23 
Amount                14          15      8      13      11 
 
Baader-Helvea      3,957         381     --      --    1.23 
Bryan Garnier      4,009         396     --     267      -- 
Commerzbank           --         398     --      --      -- 
Deutsche Bank      4,036         379    366     258    1.23 
DZ Bank            3,918         427    407     285    1.36 
Equinet            4,034         403    388     275    1.32 
Exane BNP Paribas  4,030         392    377     262      -- 
HSBC               4,027         388    373     264    1.26 
Independent Res.   4,050         406     --     276      -- 
J.P. Morgan        4,011         380    370     259    1.24 
Kepler Cheuvreux   4,037         390     --     271    1.30 
LBBW               4,034         395    378     266    1.27 
Morgan Stanley     4,031         420     --     262    1.24 
UBS                4,061         398    384     272    1.30 
Warburg Research   3,921         386     --     266    1.27 
 
 
                Target price  Rating               DPS 2014 
 
AVERAGE                63.78  positive 4  AVERAGE      1.27 
Prev. Quarter          84.03  neutral  8  Prev. Year   1.50 
+/- in %                 -24  negative 2  +/- in %      -15 
 
MEDIAN                 63.00              MEDIAN       1.23 
Maximum                75.00              Maximum      1.50 
Minimum                51.00              Minimum      1.10 
Amount                    14              Amount         11 
 
Baader-Helvea          64.00  Buy                        -- 
Bryan Garnier          56.95  Neutral                  1.20 
Commerzbank            63.00  Hold                       -- 
Deutsche Bank          51.00  Sell                     1.20 
DZ Bank                65.00  Hold                     1.15 
Equinet                75.00  Buy                      1.50 
Exane BNP Paribas      74.00  Outperform               1.23 
HSBC                   63.00  Neutral                    -- 
Independent Res.       75.00  Buy                      1.10 
J.P. Morgan            62.00  Neutral                  1.50 
Kepler Cheuvreux       60.00  Hold                     1.17 
Morgan Stanley         58.90  Underweight              1.23 
UBS                    64.00  Neutral                  1.50 
Warburg Research       61.00  Hold                     1.24 
=== 

Year-earlier figures are as reported by the company.

DJG/err 

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