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February 18, 2019

Puma FY profit jumps on stronger sales

By Hannah Abdulla

German sports brand Puma has reported a 38% profit jump for the year to EUR187.4m (US$211.9m) on the back of stronger sales.

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Earnings before interest and tax were 37.9% year-on-year at EUR337.4m driven by strong sales growth and a higher gross profit margin as well as operating leverage.

Sales for the period rose 12.4% on a reported basis – which accounts for currency fluctuations – to EUR4.7bn, with “particularly strong” sales in the Asia Pacific region followed by the Americas which both increased at double-digit rates.

Footwear continued to be a strong sales driver throughout the year. Sales were up 10.6% on a reported basis and exceeded the EUR2bn sales mark for the first time. In apparel, sales rose 17.1% on a reported basis to EUR687.5m.

“We are very happy with how our business developed in 2018,” says Bjorn Gulden, CEO of Puma. The double-digit growth in all regions is proof that we have strengthened the Puma brand globally and the double-digit growth in all product divisions shows that we have enhanced our product portfolio.

“We still have a lot to improve, but we feel we are moving our brand and company in a good direction.”

Puma said it is confident the “positive development” would continue through 2019 and expects currency-adjusted sales growth of around 10% for the full year.

Based on the current exchange rate levels, management expects an operating result (EBIT) for the financial year 2019 in a range between EUR395m and EUR415m. Management also expects a “significant improvement” of net earnings in 2019. 

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Identify the trends of tomorrow using filings sentiment analysis

Business sentiment continues to improve, showing a clear recovery since the onset of COVID-19. Sentiment in 2021 was up by 8% compared to 2020.   Consumer industries had the highest sequential filings sentiment growth in Q3 2021. Optimism around digital themes and general outlook drove the positive trend in overall business sentiment.   GlobalData’s Filing Analytics Annual Report 2021 on the Consumer industries provides insights into sentiment and mention trends for companies, geographies, and themes. Get real-time analysis of:  
  • Quarterly & annual reports 
  • Earnings call transcripts 
  • IPO filings 
  • Events presentations 
  • ESG filing trends  
Understand the overall outlook for Consumer and spot the topics and themes that will be most impactful in the next few years.   Download the full report to understand what to expect and how to align your business for success.  
by GlobalData
Enter your details here to receive your free Report.

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