Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  Adidas    ADS   DE000A1EWWW0

ADIDAS

(ADS)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Adidas : shares slide as traders say top investor GBL to cut stake

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/12/2019 | 05:46am EDT
Boxes of Adidas shoes are pictured in the warehouse of local footwear retailer

(Reuters) - Adidas shares fell 3% on Wednesday on news that one of the German sportswear company's top shareholders, Groupe Bruxelles Lambert (GBL), was preparing to sell a portion of its near 4 billion euro ($4.5 billion) stake, three traders said.

Belgian investment firm GBL was placing a tenth of its 7.5% holding, or 1.37 million shares, at 257.75 euros on the market for sale, a 1.7% discount to Tuesday's closing price, the traders added.

The sale is worth 353.1 million euros.

GBL and Adidas, whose shares hit record highs on Tuesday, declined to comment.

Adidas is in the midst of a share buyback, planning to repurchase 3 billion euros in stock between March 2018 and May 2021, which has gradually pushed up GBL's relative stake.

Adidas share price has more than doubled since GBL invested in the company as CEO Kasper Rorsted focused on improving profitability, expanding in North America and China and boosting online sales.

In GBL's recent annual report, it said it intends not to have a single asset exceeding 15 to 20% of its portfolio. Adidas made up 17.5% of GBL's portfolio at the end of March, with the stock's value surging to record highs this year.

At 0919 GMT, Adidas shares were down 2.6% at 255.4 euros and lagging the broader DAX index, which was down 0.5%.

GBL, founded by Belgium's richest man Albert Frere, who died in December at the age of 92, first invested in Adidas in 2015 with the purchase of a 3% stake.

GBL also holds stakes in some of Europe's biggest companies, including Pernod Ricard, LafargeHolcim and Total.

(Reporting by Thyagaraju Adinarayan; additional reporting by Helen Reid in LONDON, Philip Blenkinsop in BRUSSELS and Emma Thomasson in BERLIN; writing by Josephine Mason; editing by Alexander Smith and Louise Heavens)

By Thyagaraju Adinarayan, Emma Thomasson and Philip Blenkinsop

Stocks mentioned in the article
ChangeLast1st jan.
ADIDAS -1.09% 262.35 Delayed Quote.45.53%
DAX -0.30% 12234.4 Delayed Quote.16.25%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ADIDAS
05:55aADIDAS AG : Amendment regarding disclosure pursuant to Article 2 Section 1 of th..
EQ
05:50aADIDAS AG : Disclosure pursuant to Art. 5 Sec. 1 lit. b) and Sec. 3 of the Regul..
EQ
06/20ADIDAS : Stripes Aren't a Trademark, Court Says
DJ
06/19ADIDAS : Told Three Stripes Aren't Enough for a Trademark
DJ
06/19Adidas loses EU bid to extend three-stripe trademark
RE
06/19NEWS HIGHLIGHTS : Top Company News of the Day
DJ
06/19ADIDAS : Claims EU Ruling on Trademark Only Affects One Iteration
DJ
06/19ADIDAS : says ruling only affects certain uses of 3-stripe trademark
RE
06/17ADIDAS AG : Release of a capital market information
EQ
06/14ADIDAS : Upgrade your dad's sneaker game with a cool gift this Father's Day | IO..
AQ
More news
Financials (€)
Sales 2019 23 570 M
EBIT 2019 2 724 M
Net income 2019 1 921 M
Finance 2019 1 086 M
Yield 2019 1,44%
P/E ratio 2019 27,23
P/E ratio 2020 24,32
EV / Sales 2019 2,21x
EV / Sales 2020 2,05x
Capitalization 53 200 M
Chart ADIDAS
Duration : Period :
adidas Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ADIDAS
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 36
Average target price 247 €
Spread / Average Target -6,9%
EPS Revisions
Managers
NameTitle
Kasper Bo Rørsted Chief Executive Officer
Igor Landau Chairman-Supervisory Board
Harm Ohlmeyer Chief Financial Officer
Willi Schwerdtle Deputy Chairman-Supervisory Board
Wolfgang Jäger Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
ADIDAS45.53%58 454
NIKE13.97%122 534
FENG TAY ENTERPRISES CO., LTD.--.--%4 949
HWASEUNG ENTERPRISE CO LTD--.--%735
361 DEGREES INTERNATIONAL LTD-9.64%372
FULGENT SUN INT (HOLDING) CO LTD--.--%359