Annual Report 1997 (1.5 MB PDF) - adidas Group

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32 adidas-Salomon AG and Subsidiaries Consolidated Balance Sheets (in thousands of DM) ASSETS (Note) At December 31, 1997 1996 Cash and cash equivalents (18) 63,574 83,976 Inventories (4) 1,606,101 1,088,048 Receivables and other current assets (5) 1,157,704 817,807 Total current assets 2,827,379 1,989,831 Property and equipment, net (6) 274,585 241,091 Goodwill and other intangible assets (7) 234,810 194,169 Investments and other long-term assets (8) 957,486 30,456 Total assets (17) 4,294,260 2,455,547 LIABILITIES AND SHAREHOLDERS’ EQUITY Short-term borrowings and current portion of long-term liabilities (9) 1,524,825 465,940 Accounts payable 685,307 529,340 Other current liabilities (10) 596,295 439,120 Total current liabilities 2,806,427 1,434,400 Long-term bank borrowings 0 4,941 Deferred taxes 8,880 3,376 Other long-term liabilities (13) 85,814 62,818 Minority interests 41,286 45,684 Shareholders’ equity (11) 1,351,853 904,328 Total liabilities and shareholders’ equity 4,294,260 2,455,547 See accompanying notes to the consolidated financial statements
adidas-Salomon AG and Subsidiaries Consolidated Income Statements (in thousands of DM) (Note) Year ended December 31, 1997 1996 1995 Net sales (17) 6,698,277 4,709,432 3,500,240 Cost of sales 3,888,717 2,832,797 2,110,899 Gross profit 2,809,560 1,876,635 1,389,341 Selling, general and administrative expenses 2,128,286 1,454,298 1,095,096 Depreciation and amortization (2), (6), (7) 80,242 62,120 51,418 Income from operations 601,032 360,217 242,827 Royalty and commission income 85,279 96,802 100,245 Financial result (15) (31,020) (12,614) (46,987) Extraordinary income (21) 21,690 0 0 Income before taxes 676,981 444,405 296,085 Income taxes (16) 185,853 106,755 42,853 Net income before minority interests 491,128 337,650 253,232 Minority interests (26,174) (23,581) (8,318) Net income 464,954 314,069 244,914 Net income per ordinary share (in DM) 10.25 6.93 5.40 See accompanying notes to the consolidated financial statements 33
Page 1 and 2: Annual Report 1997
Page 3 and 4: Table of Contents Page President’
Page 5 and 6: While our business in America conti
Page 7 and 8: FOOTWEAR SALES INCREASED BY AROUND
Page 9 and 10: EXCHANGE RISKS HEDGED During the la
Page 11 and 12: Whilst the 1997 group tax rate agai
Page 13 and 14: The formation of a wholly-owned sub
Page 15 and 16: At December 31, 1997 order backlog
Page 17 and 18: The Many Faces of adidas Page adida
Page 20: 18 Haile Gebrselassie has only one
Page 24: 22 Kobe Bryant, in two short years,
Page 28: 26 Anna Kournikova brings fire, fla
Page 31 and 32: Eddie George 29
Page 33: adidas-Salomon AG and Subsidiaries
Page 37 and 38: adidas-Salomon AG and Subsidiaries
Page 39 and 40: Property and equipment and deprecia
Page 41 and 42: adidas-Salomon AG and Subsidiaries
Page 43 and 44: Credit lines: Prior to the announce
Page 45 and 46: The following is a summary of the c
Page 47 and 48: The actuarial valuations of the pla
Page 49 and 50: 15. Financial result Financial resu
Page 51 and 52: 18. Cash flow statement Cash and ca
Page 53 and 54: Auditors’ Report To the Board of
Page 55 and 56: As at December 31, 1997 Equity 000
Page 57 and 58: As at December 31, 1997 Equity 000
Page 60 and 61: 58 Attachment II to the Notes adida
Page 62 and 63: 60 Report of the Supervisory Board

Annual Report 1997 (1.5 MB PDF) - adidas Group

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