PUMA achieves Full-Year Guidance for 2015 - Sales growth across all regions and product segments in Fourth Quarter and Full-Year
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2015 Fourth Quarter Facts
• Sales grow by 17.1% to € 879 million (+11.5% currency adjusted)
• Gross profit margin decreases to 42.7% due to adverse currency effects
• EBIT improves only slightly to € 11 million, because of continued heavy investmentsin OPEX, especially marketing, retail, and IT
• Strong sell-through of first Rihanna-inspired Footwear ignites PUMA’s women’sbusiness
2015 Full Year Facts
• PUMA’s full-year sales increase by 14.0% to € 3.4 billion (+6.5% currency adjusted)
• Sales growth mainly driven by Footwear and Running and Training category
• Gross profit margin decreases to 45.5% due to adverse currency effects
• OPEX increase due to higher marketing activities, retail upgrades, and ITinvestments as well as adverse currency effects
• EBIT at € 96.3 million in line with guidance
• Net earnings amount to € 37.1 million (2014: € 64.1 million) and EPS come in at€ 2.48 (2014: € 4.29)
• New product launches perform strongly, both in sports performance and lifestylecategories
Key Sales Figures at a Glance
Bjørn Gulden, Chief Executive Officer of PUMA SE:
The year ended with a strong fourth quarter showing double digit reported growth across allregions and all product categories. We saw improved sell-through both in our owned andoperated retail and with our retail partners. We know that we still have a lot to improve butfeel that during this year we have strengthened the PUMA brand, presented better productsand further improved the co-operation with our retail partners.
We have seen progress in our performance categories, led by Running and Training, as wellas our lifestyle business where especially our classic styles developed strongly in the secondhalf of the year. I am especially proud to see our positive development in the women’sbusiness where our co-operation with Rihanna and a strong product offering have increasedthe interest from both retailers and consumers.
Unfortunately the strengthening of the US-dollar versus nearly all other currencies has had asignificant impact on both our gross profit margin and our operating expenses and thereforealso on our EBIT and net earnings.
But we feel that we as a company have made progress in 2015 and that we have laid thegroundwork for high single digit sales growth as well as improved EBIT and net earnings in2016. We look forward to a great sports year with the Olympic Games in Rio, Copa Americain the USA and the UEFA Euro 2016 in France. We feel we are well prepared with betterproducts, more and better marketing and an even closer co-operation with our retailers.
Media Relations:
Kerstin Neuber - Corporate Communications - PUMA SE - +49 9132 81 2984 -
Investor Relations:
Johan-Philip Kuhlo – Global Strategy - PUMA SE - +49 9132 81 3170 – investor-relations@PUMA.com
Notes to the editors:
• This press release and financial reports are posted on www.about.puma.com.
• PUMA SE stock symbol:
Reuters: PUMG.DE, Bloomberg: PUM GY,
Börse Frankfurt: ISIN: DE0006969603– WKN: 6969603
Notes relating to forward-looking statements:
This document contains forward-looking information about the Company’s financial status and strategicinitiatives. Such information is subject to a certain level of risk and uncertainty that could cause the Company'sactual results to differ significantly from the information discussed in this document. The forward-lookinginformation is based on the current expectations and prognosis of the management team. Therefore, thisdocument is further subject to the risk that such expectations or prognosis, or the premise of such underlyingexpectations or prognosis, become erroneous. Circumstances that could alter the Company's actual results andprocure such results to differ significantly from those contained in forward-looking statements made by or onbehalf of the Company include, but are not limited to those discussed be above.
PUMA
PUMA is one of the world’s leading Sports Brands, designing, developing, selling and marketing Footwear, apparel andaccessories. For over 65 years, PUMA has established a history of making fast product designs for the fastest athletes on theplanet. PUMA offers performance and sport-inspired lifestyle products in categories such as Football, Running and Training,Golf, and Motorsports. It engages in exciting collaborations with renowned design brands to bring innovative and fast designsto the sports world. The PUMA Group owns the brands PUMA, Cobra Golf, Dobotex and Brandon. The company distributes itsproducts in more than 120 countries, employs more than 10,000 people worldwide, and is headquartered inHerzogenaurach/Germany. For more information, please visit http://www.puma.com