PUMA - Quarterly statement Q3 2017
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Strong Sales and EBIT growth continues in the Third Quarter
Upgrade of the Full-Year Guidance for 2017
Herzogenaurach, October 24, 2017
2017 Third Quarter Facts
• Sales increase by 17% currency adjusted to € 1,122 million (+13% reported) with double-digit growth in all regions
• Gross profit margin up by 230 basis points to 48.1%
• Operating expenses (OPEX) increases by 11% driven by higher marketing, selling and retail expenses
• Operating result (EBIT) rises to € 101 million (last year: € 60 million)
• PUMA partners with singer, actress and social media icon Selena Gomez
• The new PUMA ONE collection drives improved Football sell-through
2017 Nine Month Facts
• Sales up by 16% currency adjusted to € 3,096 million (+16% reported), with all regions showing double-digit growth and footwear being the main growth driver
• Gross profit margin up 120 basis points at 47.3%
• Operating leverage with operating expenses (OPEX) increasing by only 12%
• Operating result (EBIT) improves to € 215 million (last year: € 114 million)
• Net earnings almost doubled from € 67 million last year to € 134 million and earnings per share increase from € 4.48 last year to € 8.94 respectively
• PUMA footwear styles “BASKET HEART” and “IGNITE Limitless” continued to be popular with customers
• Women’s business further strengthened through second Rihanna collection this year, launched in September
Bjørn Gulden, Chief Executive Officer of PUMA SE:
“The third quarter was another good quarter for us with double-digit growth in all regions and strong growth in all product segments. With gross profit margin exceeding our expectations and a continued focus on operating expenses, we were able to deliver a very positive and better than expected operating result (EBIT).
This development in the third quarter combined with a good orderbook for the fourth quarter made us raise the outlook for the full year. We now expect currency adjusted sales to increase between 14% and 16% and the operating result (EBIT) to come in between € 235 million and € 245 million.”
Sales Development:
Third Quarter 2017
PUMA's sales growth continued in the third quarter of 2017. Sales rose by 17.4% currencyadjusted to € 1,121.8 million (+13.3% reported), compared to € 990.2 million in the previous year. All regions supported the sales growth showing a double-digit increase.
Footwear continued to be the main growth driver and Accessories also increased doubledigit, while Apparel grew at a more modest rate.
The gross profit margin improved by 230 basis points from 45.8% to 48.1% in the third quarter. Further improvements in sourcing, higher sales of new products with a higher margin and selective price adjustments helped to improve the gross profit margin despite
negative currency impacts.
Media Relations:
Kerstin Neuber - Corporate Communications - PUMA SE - +49 9132 81 2984 - kerstin.neuber@puma.com
Investor Relations:
Johan-Philip Kuhlo - Head of Investor Relations - PUMA SE - +49 9132 81 2589 - investor-relations@puma.com
Notes to the editors:
• The financial reports are posted on www.about.puma.com.
• PUMA SE stock symbol:
Reuters: PUMG.DE, Bloomberg: PUM GY,
Börse Frankfurt: ISIN: DE0006969603– WKN: 696960
Notes relating to forward-looking statements:
This document contains forward-looking statements about the Company’s future financial status and strategic initiatives. The forward-looking statements are based on the current expectations and assumptions of the management team. These are subject to a certain level of risk and uncertainty including, but not limited to those described above or in other disclosures, in particular in the chapter Risk and Opportunity Management in the Group Management Report. In the event that the expectations and the assumptions do not materialize or
unforeseen risks arise, the Company's actual results can differ significantly from expectations. Therefore, we cannot assume responsibility for the correctness of these statements.
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 and Dobotex. The company distributes its products inmore than 120 countries, employs more than 10,000 people worldwide, and is headquartered in Herzogenaurach/Germany. Formore information, please visit http://www.puma.com