Adidas Ag Or ( ADDDF.PK) Q4 2011 Earnings Conference Call March 07, 2012, 08:30 AM ET Executives John-Paul O’Meara - Vice President Investor Relations Herbert Hainer - Chief Executive Officer Robin Stalker – Chief Financial Officer Analysts Sujith [ph] – Maintrust [ph] Michael Kuhn - Deutsche Bank Antoine Belge - HSBC Andreas Enthest - Exane BNP Paribas Julian Easthope - Barclays Capital Operator
Good afternoon ladies and gentlemen and welcome to Herzogenaurach for our full-year 2011 financial results presentation. As you would have seen this morning’s release the adidas Group has completed 2011 on a high-end with strong momentum. So in today's presentation Herbert Hainer, adidas Group CEO and Robin Stalker, Group CFO will reflect on a perfect start to our Route 2015 strategic business plan and discuss our initiatives to keep the momentum going in 2012. But as always let’s start with a refresher of the widespread presence and success of our brand and athletes in 2011. Herbert Hainer Good afternoon gentlemen – ladies and gentlemen, sorry, still a male dominated group. Let me start with our presentation and thanks for joining us this afternoon. It's a sort of any strategic plan I think it is important to gain momentum quickly and a President by the hitting targets. In this respect, we couldn’t have asked for a better start to Route 2015 as we met and in most cases exceeded our initial expectation for the year. With sales increasing 13% currency neutral or 11% in euros to over €13.3 billion, we enjoyed the group’s strongest organic rates since 2006. We succeeded in offsetting almost all of the negative pressures from higher input costs. And by leveraging our operating overhead costs we drove net income up by 18% to new record level of €671 million, representing earnings-per-share of €3.20.