addidas营销策划案

GermanCorporateConferenceDeutscheBankRobinStalker,CFOJune1,2006Frankfurt/Main2Agenda•adidasGroupQ12006resultsoverview•Reebokintegrationupdate•Outlook3AnExcitingStartTo2006•StrongdevelopmentinadidasandTaylorMade-adidasGolfsegments•ReebokbecomesnewGroupsegment•WorldCupmomentumgrowing4ExcitingOperationalDevelopments5RegionalSalesGrowthOfCombinedGroup44312051000%100%50%EuropeNorthAmericaAsiaLatinAmericain%oftotalGroupsalesCurrency-neutraladidasGroupNetSalesGrowthTotalGroup(Growthratesineuros)+20%(+21%)+94%(+113%)+28%(+34%)+58%(+85%)+40%(+47%)6StrongSalesDevelopmentForTheGroupExcludingReebok0%30%10%currency-neutral(ineuros)adidasGroupexcl.ReebokNetSalesGrowth+12%(+17%)+26%(+34%)+13%(+19%)(excl.Reebok)20%7NumerousFactorsImpactFirstQuarterGrossMarginadidasGroupgrossmargin45.0%First-timeinclusionofReebokPurchasepriceaccount-ingHigherinputpricesLackofpositivecurrencyeffectsSalomon8SalesGrowthandOperatingExpenseLeverageSupportOperatingMarginOperatingexpenseleverageStrongsalesgrowth€5millionincreaseinroyaltiesLowergrossmarginGroupoperatingmargin10.1%9•Netfinancialexpensesincreaseto€28million•Incomebeforetaxesgrows14%to€220million•Grouptaxratereducedto31.8%•Netincomefromcontinuingoperationsincreasesto€150million(+16%)Netincomeattributabletoshareholdersreaches€144million(+37%)StrongIBTAndEarningsPerformance10•DaysofSalesOutstanding(DSO)improve•OperatingworkingcapitalasapercentageofnetsalesatrecordQ1levelof25%•NetdebtincreasereflectsReebokacquisitionfinancingCurrency-neutralchangeadidasGroupadidasGroupexcl.ReebokInventories+66%+25%Receivables+54%+8%OperatingWorkingCapitalProgressContinues11Agenda•adidasGroupQ12006resultsoverview•Reebokintegrationupdate•Outlook12ThreeUniqueCoreBrands•Passionforsportandteamwork•Enablingathletestoreachtheirhighestperformancelevels•Defininggolfexcellence•Bestgolfproductsforbestplayers•CelebratingIndividuality•RedefiningperformanceandlifestyleTechnologyandinnovationCutting-edgedesignCustomizedproductsanddistribution13SubstantiveRevenueSynergiesExpectedBrandedapparelAnnualrevenuesynergies:€500millionLicensedproductRegionalinitiativesDistributorbuyouts14PhasingofRevenueSynergiesontheFast-Track€inmillions200720082009Synergy100250500•SavingsequallyspreadoverAsia,NorthAmericaandEurope•One-timeexpensestoaverage€15–25millionperyear•Potentialforaddedspeedindistributorbuybacks15CostSynergiesSignificantlyAboveOriginalExpectationsMarketing&SalesAnnualcostsynergies(net)by2009:€175millionDistribution&WarehousingAdministration&ITSourcing16PhasingofCostSynergiesLeadstoFullImpactin2009€inmillions2006200720082009Synergy3587.5175175One-timecost357070-Neteffect017.510517517ReebokIntegrationProcessOffToAGoodStart•GroupmediabuyingpartnerCaratselected•BuyoutofRussiandistributorannounced•adidasMarketingexpertisetransfer18ReebokQ1PerformanceInLineWithExpectations•Currency-neutralsalesdown16%(-10%ineuros)•Currency-neutralbacklogsdecline14%(-10%ineuros)•WeaksalestokeyaccountsintheUSandUK•Declinesinlifestyle-orientedcategories19OvercomingShort-TermChallenges•New,motivatedmanagementteam•Tighteneddistributionstrategy•Betterbrandcommunication•Focusonexecutionalexcellence20IncreasingReebokDistributionDisciplineandStrengtheningBrandCommunication•Moreselectivedistributionwithkeyretailers•Tighterallocationstrategy•Streamlinedlogousage•NewNFL,runningandbasketballcampaignstocomeinFW200621Agenda•adidasGroupQ12006resultsoverview•Reebokintegrationupdate•Outlook22StrongadidasAndTaylorMadePerformanceSupportPositiveOutlook•adidasbacklogsincrease12%(+15%ineuros)•InitiativesinrunningandWomen’ssupportstrongadidasbrandmomentuminQ3•ExcitingTaylorMadeproductlaunchesinQ2232006FinancialGuidanceConfirmedGroupGroup(excl.Reebok)Currency-neutralrevenuegrowthDouble-digitHigh-single-digitGrossmargin44-46%47-48%Operatingmarginca.9%ca.10-10.5%NetincomegrowthDouble-digitDouble-digit24Medium-termGuidanceIncreasedonApril11TargetAnnualsalesgrowthHigh-single-digitGrossmargin46-48%Operatingmarginca.11%AnnualgrowthofnetincomeDouble-digitforthenext3years,atleast20%in200725•Newpartnershipsannounced•Excitingproductlaunches•Footballambitionsgreaterthanever•Footballcategoryexpectedtogeneratesalesofaround1.2billioneuroin2006WorldCupFeverinHighGear•Footballcategorytogeneratesalesofmorethan1.2billioneuroin2006•15millionof+Teamgeistballstobesoldin200626Positive2006Outlook•StrongQ1results•Brand-drivenapproach•Reebokintegrationofftoagoodstart•2006guidancereconfirmed27QUESTIONS&ANSWERSAppendix29MixedBrandGrossMarginDevelopment*IncludesHQ/consolidationQ1/200646.6%(0.5pp)35.7%--42.9%+0.1pp45.0%(3.0pp)*30adidasBacklogsByProductCategoryAndRegion•Developmentofadidasorderbacklogs(in%)•Currency-neutraldevelopmentofadidasorderbacklogs(in%)EuropeNorthAmericaAsiaTotalFootwear4202011Apparel8183016Total8192815EuropeNorthAmericaAsiaTotalFootwear311178Apparel8102613Total711251231ReebokBacklogsByProductCategoryAndRegion•DevelopmentofReebokorderbacklogs(in%)•Currency-neutraldevelopmentofReebokorderbacklogs(in%)EuropeNorthAmericaTotalFootwear1(23)(11)Apparel(21)1(9)Total(8)(14)(10)