FRANKFURT (Reuters) - Sporting goods maker Adidas (ADSGn.DE) is confident it will achieve its 2015 targets on the back of a “significant increase” in profits next year, its chief executive told a German newspaper.
“In 2013, we will have the negative currency effects, because just about every currency has lost in value against the euro this year, but I am confident that we will achieve our Route 2015 targets,” Herbert Hainer was quoted as saying by Handelsblatt in an interview to be published on Friday.
“I expect a significant increase in sales (for next year),” he added.
Route 2015 is the name given to the company’s long-term strategic plan announced in 2010 which targets sales of 17 billion euros ($23 billion) and an operating margin of 11 percent by 2015.
Adidas last month said it would no longer meet its 2013 profit targets due to adverse currency effects, a poor golf season and distribution problems in Russia.
Despite Adidas saying at the time it expected a pick-up in the fourth quarter, the profit warning prompted some analysts to question its 2015 targets.
“It will help us that the World Cup (replica) ball and the national teams’ jerseys for the tournament will start to appear in the shops,” Hainer told Handelsblatt in reference to the fourth quarter.
Shares in Adidas extended gains on Thursday after the comments and were up 2.7 percent, against a 2 percent gain for the wider index .GDAXI
Reporting by Victoria Bryan; Editing by Elaine Hardcastle