Adidas : 2024 Q1 Alternative Performance Measures EN Final

Status: April 30th, 2024

APM

Currency-neutral net sales growth

Gross margin

Operating overhead expenses

Operating profit

Operating margin

EBITDA

Return on equity

Currency-neutral development of inventory, accounts receivable and accounts payable

Average operating working capital in % of net sales

Equity ratio

Financial leverage

Adjusted net cash / (net borrowings)

Capital expenditure (CapEx)

Definition

To calculate the currency-neutral net sales growth, actual exchange rates of current year are applied for prior year's net sales and then compared with current year's net sales at actual rates.

Gross profit in relation to net sales in %

Distribution and selling expenses + general and administrative expenses + sundry expenses + impairment losses (net) on accounts receivable and contract assets

Gross profit + royalty and commission income + other operating income - other operating expenses

Operating profit in relation to net sales in %

Earnings before interest, taxes, depreciation and amortization, as well as impairment losses/reversal of

impairment losses on property, plant, and equipment, right-of-use, and intangible assets

Net income attributable to shareholders (YTD) in relation to shareholders' equity in %

To calculate the currency-neutral development of inventory, accounts receivable and accounts payable, actual exchange rates of current year are applied for prior year's values and then compared with current year's values at actual rates

1. Operating working capital = accounts receivable + inventories - accounts payable
2. Average operating working capital = sum of operating working capital at quarter-ends / 4
3. Average operating working capital in relation to net sales in %

Shareholders' equity in relation to total liabilities and equity in %

Adjusted net borrowings in relation to shareholders' equity in %

Short-term borrowings + long-term borrowings + current and non-current lease liabilities + pensions and similar obligations + factoring - accessible cash and cash equivalents (= cash and cash equivalents + short- term financial assets - trapped cash)

Total cash expenditure for the purchase of tangible and intangible assets (excluding acquisitions and right-of- use assets according to IFRS 16)

Reference to Annual Report

Consolidated Financial

Statements - Consolidated

Income Statement

Consolidated Financial

Statements - Consolidated

Income Statement

Consolidated Financial

Statements - Consolidated

Income Statement

Consolidated Financial

Statements - Consolidated

Income Statement

Group Management Report -

Financial Review - Income

Statement

Group Management Report -

Financial Review - Statement of

Financial Position and

Statement of Cash Flows

Group Management Report -

Financial Review - Statement of

Financial Position and

Statement of Cash Flows

Group Management Report - Financial Review - Treasury

Group Management Report -

Financial Review - Statement of

Financial Position and

Statement of Cash Flows

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