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Herzogenaurach (dpa) - The sporting goods manufacturer Adidas recorded strong growth in the first quarter. Revenues rose by 20 percent to just under 5.3 billion euros, as the company announced on Friday in Herzogenaurach. Adjusted for currency effects, the increase was 27 percent. The group benefited from a strong development in China. Profitability also improved significantly after the corona pandemic had weighed heavily for the first time in the previous year. The operating result rose from 48 million to 704 million euros. The bottom line was that 502 million euros remained in continued business, after 26 million euros in the previous year. The US subsidiary Reebok, which is up for sale, is no longer included in the figures. The numbers were above analysts' expectations.

Adidas was a bit more optimistic after the strong first quarter.

The group now expects a currency-adjusted increase in sales in the high tens of percent range and thus the upper end of its previous forecast.

For the second quarter, Adidas sees a significant acceleration in sales growth and a currency-adjusted increase in sales of around 50 percent.

The bottom line is that the management continues to calculate at 1.25 to 1.45 billion euros in continuing operations.

© dpa-infocom, dpa: 210507-99-502822 / 2

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Press release Adidas