PUMA's First Half Results
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PUMA's First Half Results in line with Guidance
Negative Impact of Volatile Currencies Continues
Herzogenaurach, 29 July 2014
2014 Second Quarter Facts
- Currency adjusted sales increase slightly to € 652 million
- Gross profit margin improves to 46.7%, up 70 basis points vs. last year
- OPEX stable despite World Cup marketing expenditures
- EBIT of € 13 million
2014 Half Year Facts
- Currency adjusted sales flat at € 1.38 billion
- Gross profit margin stable at 47.7%
- Slight OPEX reduction of 1.2%
- EBIT of € 71 million
- EPS amounts to € 2.66
- Free cash flow increases by € 40 million due to improved working capital
- Successful launch of Arsenal partnership
Bjørn Gulden, Chief Executive Officer of PUMA SE: "PUMA's second quarter sales and operating profit developed in line with our expectations. I was very happy with PUMA's visibility during the World Cup in Brazil. Feedback on both our dual-colored Tricks football boots and our national team jerseys with ACTV technology has been great. The sell-through of these products has been excellent and exceeded our expectations. In addition, we celebrated a successful Arsenal launch in July, followed by very good initial sales at Retail of Arsenal replica jerseys. We are now looking forward to launching our new "Forever Faster" marketing campaign in August, which is another step in the process of becoming the "fastest sports brand in the world". But, as I have said all along: We know that the repositioning of PUMA and the turnaround of the business will take time. However, I feel we are making progress on all our key strategic priorities and we have initiated the right projects to make 2014 the start of the turnaround."
Media Relations:
Kerstin Neuber - Corporate Communications - PUMA SE - +49 9132 81 2984 - kerstin.neuber@puma.com
Investor Relations:
Carl Baker - Finance - PUMA SE - +49 9132 81 3188 - carl.baker@puma.com
PUMA is one of the world's leading Sports Brands, designing, developing, selling and marketing footwear, apparel and accessories. For over 65 years, PUMA has established a history of making fast product designs for the fastest athletes on the planet. PUMA offers performance and sport-inspired lifestyle products in categories such as Football, Running, Training and Fitness, Golf, and Motorsports. It engages in exciting collaborations with renowned design brands such as Alexander McQueen and Mihara Yasuhiro to bring innovative and fast designs to the sports world. The PUMA Group owns the brands PUMA, Cobra Golf, Tretorn, Dobotex and Brandon. The company distributes its products in more than 120 countries, employs more than 10,000 people worldwide, and is headquartered in Herzogenaurach/Germany. For more information, please visit http://www.puma.com