Double digit growth for Puma

Germany-based athletics company Puma closed 2018 reporting a 17.6% and 38.0% revenue and net earnings gain, respectively. For 2019, Puma expects earnings and sales to continue with two digits increases
Bjørn Gulden, Chief Executive Officer of Puma SE commented: “We are very happy with how our business developed in 2018. Sales rose organically by 17.6% to 4 648 million euros and the operating result (EBIT) improved by 37.9% to 337 million euros, which shows our strong momentum. The double-digit growth in all regions is a proof that the 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. We see that our progress will also continue in 2019 and expect our currency adjusted sales to grow around 10% and our operating result to increase to a range between 395 million euros and 415 million euros.”

Fourth Quarter Highlights

int he last quarter of the fiscal year, sales increased by 20.1% currency adjusted totalling 1 226 million euros (+17.9% reported) with strong growth in all regions and product segments. Gross profit margin remained stable at a high level of 47.1%.

Full-Year Highlights

In 2018, Puma’ sales increased by 17.6% currency adjusted reaching 4 648 million euros (+12.4% reported) with double-digit growth in all regions and product segments. Gross profit margin improved by 110 basis points to 48.4%, supported by higher margins in all product segments. Net earnings and earnings per share increase by 38.0% from 135.8 million euros to 187.4 million euros and from 9.09 euros to 12.54 euros, respectively.