Based on the information provided in Exhibit 1, the EBITDA interest coverage ratio of Adidas AG is
Question:
Based on the information provided in Exhibit 1, the EBITDA interest coverage ratio of Adidas AG is closest to:
A. 7.91x.
B. 10.12x.
C. 12.99x.
EXHIBIT 1 Adidas AG Excerpt from Consolidated Income Statement Year Ending 31 December 2010 (€ in millions)
Gross Profi t 5,730 Royalty and commission income 100 Other operating income 110 Other operating expenses 5,046 Operating profi t 894 Interest income 25 Interest expense 113 Income before taxes 806 Income taxes 238 Net income 568 Additional information:
Depreciation and amortization: €249 million Source: Adidas AG Annual Financial Statements, December 2010
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Related Book For
Fixed Income Analysis
ISBN: 9788126563128
3rd Edition
Authors: Barbara S. Petitt, Jerald E. Pinto, Wendy L. Pirie, Bob Kopprasch
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