First Quarter Sales Show Growth of PUMA Currency effects weigh on reported margins

2015 First Quarter Facts

 

• Sales up by 4.4% currency-adjusted (+13.2% reported) to € 821 million, growth across all regions and mainly driven by Footwear

 

• Gross profit margin down, solely due to foreign currency impacts

 

• OPEX increase because of marketing expenses, investments in IT, opening of new retail stores, also strongly impacted by unfavorable currency rates

 

• EBIT stands at € 38 million

 

• PUMA IGNITE running shoe technology successfully launched in February

 

• Outlook adjusted to reflect currency impact

 

Bjørn Gulden, Chief Executive Officer of PUMA SE: “PUMA´s first quarter sales grew slightly stronger than expected. This was mainly caused by a very positive development in footwear. We are working very hard to improve our product offer, and although we know we have some ways to go, we feel that this growth in footwear confirms that we are on the right path.

 

The negative development in currencies, had a significant negative impact on our gross profit margin and operational expenses and therefore also on our EBIT and net earnings. We do work hard to „counter“ these negative currency effects, but do currently not have enough leverage to fully neutralize the impact and have therefore adjusted our outlook for the full year EBIT and net earnings.

 

We will continue our strategy to become the Fastest Sports Brand in the World and will continue to invest in Product, Marketing, Retail and IT to lay the foundation for solid profitable growth in the future.”

 

Media Relations:

 

Kerstin Neuber - Corporate Communications - PUMA SE - +49 9132 81 2984 - kerstin.neuber@PUMA.com

 

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 strategic initiatives. Such information is subject to a certain level of risk and uncertainty that could cause the Company's actual results to differ significantly from the information discussed in this document. The forward-looking information is based on the current expectations and prognosis of the management team. Therefore, this document is further subject to the risk that such expectations or prognosis, or the premise of such underlying expectations or prognosis, become erroneous. Circumstances that could alter the Company's actual results and procure such results to differ significantly from those contained in forward-looking statements made by or on behalf 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 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

 

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