Adidas AG: adidas launches new share buyback program
June 29, 2021 at 06:03 pm IST
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DGAP-Ad-hoc: adidas AG / Key word(s): Share Buyback
adidas AG: adidas launches new share buyback program
29-Jun-2021 / 14:31 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
FOR IMMEDIATE RELEASE
Herzogenaurach, June 29, 2021
adidas launches new share buyback program
Through its new strategy 'Own the Game' adidas expects to drive significant top-line growth and strong bottom-line expansion until 2025. As a result, the company will generate substantial cumulative free cash flow over the next five years. adidas plans to share the majority of this - between ? 8 billion and ? 9 billion - with its shareholders through regular dividend pay-outs in a range of between 30% and 50% of net income from continuing operations, complemented with share buybacks.
Against this background and with the approval of the Supervisory Board, the Executive Board of adidas AG has decided today to launch a new share buyback program in the second half of 2021. Starting on July 1, 2021, the company plans to buy back shares worth up to ? 550 million until the end of the year. Taking into consideration the dividend payment of ? 585 million which was made in May, the total amount of cash which the company will return to its shareholders in 2021 is expected to exceed ? 1 billion.
While the company may use the repurchased shares for all purposes in accordance with the authorization granted by the Annual General Meeting in May 2021, the company intends to cancel most of the repurchased shares, which would reduce the number of shares and the share capital accordingly.
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Contacts:
Media Relations
Investor Relations
corporate.press@adidas.com
investor.relations@adidas.com
Tel.: +49 (0) 9132 84-2352
Tel.: +49 (0) 9132 84-2920
For more information, please visit adidas-group.com.
29-Jun-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
adidas AG
Adi-Dassler-Straße 1
91074 Herzogenaurach
Germany
Phone:
+49 9132 84 0
Fax:
+49 9132 84 2241
Internet:
www.adidas-group.com
ISIN:
DE000A1EWWW0, US00687A1079, US00687P1049
WKN:
A1EWWW, A0MNCC , 909676
Indices:
DAX
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
adidas AG is one of the world leaders in the design, manufacturing and marketing of sports equipment and articles. The group's products are sold primarily under the following brands: adidas, TaylorMade and Reebok. Net sales (before intragroup eliminations) break down by family of products as follows:
- shoes (56.7%);
- clothing (36.4%);
- sports equipment (6.9%): golf equipment (golf clubs, balls, gloves, metal clubs, etc.; No. 1 worldwide; TaylorMade and Maxfli), bags, balls, etc.
At the end of 2023, the products are marketed through a network of more than 2,000 stores worldwide.
Net sales are distributed geographically as follows: Europe-Middle East and Africa (39.4%), North America (24.4%), China (15%), Latin America (10.7%) and Asia/Pacific (10.5%).