Puma announces net profit of 352.1 million euros until September

The manufacturer of sports clothing and accessories accumulates profits of 16.7 % in the first nine months and reiterates forecasts

The German sportswear and footwear manufacturer Puma posted a net profit of 352.1 million euros in the first nine months of this year, which represents a profit 16.7 % higher than those registered during the same period of 2021, as reported on Wednesday by the multinational, which has reiterated its sales growth forecast for the year as a whole.

Puma’s turnover until September reached 6,268.5 million euros, 24.4 % more than in the same period last year. By business segments, footwear sales totaled 3,141 million euros, 30.4 % more, while clothing sales rose 20.6 %, to 2,159.5 million. Revenue from accessories, meanwhile, was 968 million, 15.3 % more.

By geographical area, sales of the German company in Europe, the Middle East and Africa (EMEA) grew by 21.9 % until September, with 2,386.7 million, while in America they rose 40.8 %, to 2,688, 3 millions. In Asia-Pacific, Puma recorded revenues of 1,193.4 million euros, 2% more.

Between July and September, Puma’s net profit reached 146.4 million euros, 1.8 % more than in the third quarter of 2021, while sales of the German company totaled 2,354.4 million euros, 23.9 % more.

 

Puma

 

“Despite all the global uncertainties, the third quarter was again a very good quarter for us,” said Bjorn Gulden, CEO of Puma.

However, the executive warned that, although strong demand for footwear continues to be seen, it is also appreciated that the high levels of inventory in the market, especially clothing, have led retailers to place orders more cautiously than a year ago.

“We continue to see a strengthening of the Puma brand and our sales globally. We expect continued volatility in the market during the fourth quarter, but we are confident that we can deliver according to our outlook for the full year,” he added.

In this way, despite the highly uncertain environment, Puma has reiterated its outlook for 2022 of sales growth adjusted for exchange rates of between 15 % and 16 % and an operating result in a range of 600 to 700 million euros, compared to 557 million in 2021.

In any case, in line with previous expectations, the company estimates that inflationary pressures stemming from increased freight rates and raw material prices, as well as operational inefficiencies due to Covid-19 and the Ukraine crisis will dilute profitability in 2022.

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Source: dpa

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