Parent group adidas-Salomon showed sales in 2003 reached EUR6.27 billion, with increases for all brands and regions, except North America.
Income before taxes was up 12 percent on lower operating and financial expenses while overall operating expenses in 2003 were reduced by 1 percent to EUR2.32 billion.
Net income in 2003 increased by 14 percent from EUR229 million in 2002 to a record EUR260 million.
The group’s operating profit increased 3 percent to EUR490 million with this performance enhanced by a significant reduction in financial expenses supported by both lower average debt levels and lower interest rates.
CEO Herbert Hainer commented: "Our excellent 2003 performance reflects our Group's ongoing ability to deliver targeted results even in the face of challenging market conditions. Despite weakness in America and major pressure on Group sales as a result of currency developments, we achieved record earnings.
"2004 will be an exciting year with adidas-Salomon's brands and products center-stage at the highest-profile global sporting events. This year, we will stabilize our business in North America, grow Group sales by 3 to 5 percent on a currency-neutral basis and deliver net income growth of at least 10 percent."
Sports brand adidas has reported a 5 percent sales improvement in its latest financial figures.
