adidas AG · XETR:ADS

adidas — FY2023 Earnings Presentation

9 slides from adidas's earnings presentation, Feb 1, 2024

  1. Slide 1: FY 2023 Preliminary Results

    FY 2023 PRELIMINARY RES FEBRUARY 1, 2024

  2. Slide 2: Major P&L Items

    € IN MILLIONS adidas MAJOR P&L ITEMS 669 EXCL. YEEZY: +2% EXCL. ARS DEVALUATION: +1% NEGATIVE IMPACT FROM ARS DEVALUATION IN Q4: AROUND €100M

  3. Slide 3: Evolution of FY 2023 Guidance

    EVOLUTION INITIAL GUIDANCE FEBRUARY 9 HIGH-SINGLE-DIGIT DECLINE BREAK-EVEN - € 700 MILLION adidas UPDATED GUIDANCE JULY 24 MID-SINGLE-DIGIT DECLINE BREAK-EVEN - € 450 MILLION LATEST GUIDANCE OCTOBER 17 LOW-SINGLE-DIGIT DECLINE € 100 MILLION - € 100 MILLION DECEMBER 31

  4. Slide 4: FY 2023 Reported Operating Profit vs Guidance

    FY 2023 REPORTED OPERATING PROFIIGA Laat INITIAL GUIDANCE UPDATED GUIDANCE ~ LATEST GUIDANCE ACTUAL FEBRUARY 9 JULY 24 | OCTOBER 17_—s| [| DECEMBER31 | +€ 1 BILLION 1 100 268 268 ® 0 ©) 1 |= 6 100 @ -100 10 ® (@) YEEZY DROPS 100 io) @) LESS YEEZY WRITE-OFF 150 @ ~450 © BETTER UNDERLYING BUSINESS € I

  5. Slide 5: Components of FY 2024 Net Sales

    COMPONENTS MID-SINGLE-DIGIT GROWTH CURRENCY-NEUTRAL ~€22,25BN ~€22.0BN -€22.75BN — - €22.5BN HIGH. €21.4BN SINGLE | eter —~ DIGIT 0H ce ~€206BN NET SALES YEEZY EXCL C.N.GROWTH — UNDERLYING YEEZY NETSALES FXIMPACT NET SALES FY 2023 FY 2023 YEEZY FY 2024 FY 2024 FY 2024 FY 2024 FY 2024 FY 2024 FY 2023

  6. Slide 6: FY 2024 Growth Outlook by Quarter

    ee a IN 2024 AT LEAST ROWTH Qi Q2 Q3 4 = Growth negatively impacted by initiatives to reduce inventories in North America = Growth benefitting from improved go-to-market process and strong F/W 24 product pipeline = Expectations supported by strong order book build FY 2024: HIGH-SINGLE-DIGIT GROWTH E

  7. Slide 7: Gross Margin Significantly Better in H2

    SIGNIFICANTLY BETTER IN H2 H1 2024 H2 2024 A #4 » FREIGHT AF & =» PRODUCT MIX y t MARKET MIX G y DISCOUNTING G y PRODUCT CosTS y P TOTAL y t adidas

  8. Slide 8: FY 2024 Guidance Overview

    DAW et yes OVERVIEW FY 2024 GUIDANCE NET SALES GROWTH CURRENCY-NEUTRAL OPERATING PROFIT REPORTED adidas ASSUMPTIONS MID-SINGLE-DIGIT INCREASE EXCL. YEEZY: HIGH-SINGLE- DIGIT INCREASE €500M SELLING REMAINING WEEZY INVENTORY AT COST = €250m top-line contribution = No operating profit contribution SIGN

  9. Slide 9: Q&A

adidas — FY2023 Earnings Presentation on 6ix