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March 5, 2014

TaylorMade-adidas Golf Reports Fourth Quarter and Full Year 2013 Results

TaylorMade-adidas Golf (TMaG), the largest and most profitable golf equipment, apparel and footwear company in the world, announced today, fourth quarter sales of $414M (€304M) with currency-neutral, year-over-year growth of 25%.  TMaG posted full year sales growth of +3% resulting in $1.7 billion (€1.3 billion) in sales.  Sales increases in the fourth quarter were led by the metalwood and footwear categories, each seeing strong double-digit growth YTD.

Despite unseasonably poor weather across the globe leading to a late golf season start in 2013, TMaG successfully launched multiple products in the metalwood category. In the fourth quarter, a time when many equipment manufactures opt to hold their big launches for the spring season, TaylorMade jolted the industry with the launch of SLDR and Jetspeed – two wildly popular drivers that are both played heavily on the PGA Tour. The launch allowed the company to jump ahead of competition and create an astonishing currency-neutral, fourth quarter year-over-year growth of +75% in the metalwood category.

The SLDR has been one of the most well received TaylorMade drivers in the company’s history. It has been the No. 1 played driver on the PGA Tour for more than 22 consecutive weeks. Golf Digest Magazine also gave it 20 out of 20 stars in its annual Hot List awards.  At retail, SLDR is the No. 1 selling driver model and currently makes up 6.5% of the company’s industry leading 39.8% US metalwood marketshare.*

adidas Golf and Ashworth footwear and apparel saw a record breaking year in sales.  The footwear category posted a significant currency neutral, year-over-year growth of +29% in the fourth quarter, ending the year in double digit growth (+16% for the full year).  The launch of the adizero collection, the lightest adidas Golf cleated shoe on tour, along with strong sell-through primarily in Asia and Europe continued to strengthen sales.

Around the globe, TMaG business in Japan and Canada showed significant growth posting +11% and +15% YTD, while the U.S. grew by +3%.  Strong sell through in these regions helped lift the bottom line for those regions that struggled through a tougher golf.

“The 2013 golf season will certainly be remembered as one of the most challenging in our industry, but I am extremely proud of our company’s resiliency and the ground-breaking products that enabled us to continue producing strong profitability,” said Mark King, TMaG CEO. “Our sights are set high for 2014 and are encouraged by more product introductions from our four brands.”

2013 December U.S. dollar share according to Golf Datatech LLC

About the adidas Group

The adidas Group is a global leader in the sporting goods industry, offering a broad portfolio of footwear, apparel and hardware for sport and lifestyle around the core brands adidas, Reebok, TaylorMade, Rockport and Reebok-CCM Hockey. Headquartered in Herzogenaurach/Germany, the Group employs more than 50,000 people across the globe and generated sales of €14.5 billion in 2013.

About TaylorMade-adidas Golf

Headquartered in Carlsbad, California, TaylorMade-adidas Golf Company sells golf clubs, balls, clothing and accessories under the TaylorMade, adidas Golf, Adams and Ashworth brands. TaylorMade-adidas Golf Company posted 2013 sales of over €1.3 billion.

For more information, contact:

TaylorMade-adidas Golf Communications

Heather Spears

Tel: (760) 476.8073

heather.spears@tmag.com

Dave Cordero
Tel: (760) 918.6367
dave.cordero@tmag.com