FRANKFURT (dpa-AFX Broker) - Adidas shares went up and down on Wednesday after a somewhat disappointing outlook according to experts. Initially, the share price rose to a high for the year of 195.20 euros, but then slipped into the red by up to four percent. However, this was not to last, as the shares recently made up for the discount. At EUR 193.92, the share price was recently up again by around 0.4 percent. On Tuesday, they had risen by a good two percent before the annual report.

Experts saw both positive and negative aspects in the details of the final annual report, with which Adidas confirmed the previously published key data. Despite red figures in the past financial year, the sporting goods manufacturer intends to pay its shareholders an unchanged dividend of 0.70 euros per share. The Group aims to return to growth in sales and operating profit in 2024. The forecast also issued at the end of January was confirmed.

Jefferies analyst James Grzinic was somewhat surprised that the forecast for 2024 was not raised. His colleague Zuzanna Pusz from UBS wrote that some market participants had perhaps hoped for something different in view of the ongoing sales of Yeezy products from the terminated partnership with rapper Kanye West. According to Grzinic, this recently broke even.

According to Grzinic, the average market expectation for this year's operating result has fallen since the end of January, but the average expectation of just under 850 million euros is still well above the company's target of around 500 million euros.

There were also skeptical voices on Wednesday regarding the outlook for the important US market, where Baader expert Volker Bosse believes a decline in sales is on the horizon. JPMorgan analyst Olivia Townsend, on the other hand, praised statements on the first quarter, a strong performance in the footwear segment and the price trend. Adidas is already showing signs of growth in the first quarter.

Townsend's conclusion was largely positive. However, she mentioned the good share price performance in the past month, which reduced the share price potential. Since the interim low in mid-February, Adidas shares had gained more than 15 percent in value at Wednesday's peak. However, with an increase of just under five percent since the turn of the year, the 2024 share is only in the midfield of the Dax./tih/nas/stw