DGAP-News: PUMA SE: Strong sales and EBIT growth continues in the third Quarter, PUMA slightly adapts guidance for the full year 2019
DGAP-News: PUMA SE
/ Key word(s): Quarterly / Interim Statement
QUARTERLY STATEMENT Q3 2019 Herzogenaurach, October 24, 2019 2019 Third-Quarter Facts - Sales increase by 17.0% currency adjusted to EUR 1,478 million (+19.0% reported) with continued growth in all regions and product divisions - Gross profit margin improves to 49.7% - Operating expenses (OPEX) increase 18% (reported) due to higher sales related costs as well as higher marketing and retail investments - Operating result (EBIT) up by 25% to EUR 162 million - PUMA opens its first ever North American flagship store on Fifth Avenue in New York - At the World Athletics Championships in Doha (Qatar), PUMA athlete Karsten Warholm defends his title over 400m hurdles; overall, the 12 PUMA-sponsored federations and 115 athletes competing in Doha ensured a high level of visibility for the brand - PUMA signs the Morocco national football federation - PUMA adds RJ Barrett from the New York Knicks and Kyle Kuzma from the Los Angeles Lakers to its growing roster of NBA players 2019 Nine-Months Facts - Sales increase by 16.0% currency adjusted to EUR 4,024 million (+17.6% reported) - Gross profit margin up by 60 basis points at 49.4% - Operating expenses (OPEX) increase by 17% (reported) at a slightly lower rate than reported sales - Operating result (EBIT) improves by 28% from EUR 300 million to EUR 385 million and EBIT-margin increases from 8.8% to 9.6% - Net earnings increase by 39% from EUR 176 million last year to EUR 245 million and earnings per share increase from EUR 1.18 last year to EUR 1.64 correspondingly Bjørn Gulden, Chief Executive Officer of PUMA SE:
Third Quarter 2019 The gross profit margin improved to 49.7% in the third quarter (last year: 49.6%). Small positive mix effects as well as slightly beneficial hedging led to margin improvements. Operating expenses (OPEX) rose by 18.1% to EUR 578.5 million in the third quarter. The increase was mainly caused by higher sales-related variable costs, including logistics costs as well as higher marketing and retail investments, while the remaining OPEX only rose moderately. The operating result (EBIT) increased by 24.8% from EUR 129.9 million last year to EUR 162.2 million due to a strong sales growth combined with an improved gross profit margin and operating leverage. This corresponds to an improvement of the EBIT-margin from 10.5% last year to 11.0% in the third quarter 2019. Nine Months 2019 Wholesale continued to drive growth with an increase of 14.5% currency adjusted, supported by a strong performance of our key accounts. PUMA's direct-to-consumer sales (owned and operated retail stores and eCommerce) increased by 21.3% currency adjusted to EUR 947.3 million. This was driven by like-for-like sales growth in our own stores, the expansion of our retail store network and a continued strong growth of our eCommerce business. Direct-to-consumer sales represented a share of 23.5% of total sales for the first nine months of 2019 (22.5% in the previous year). The gross profit margin improved by 60 basis points from 48.8% to 49.4% in the first nine months of 2019. Positive impacts from regional, channel and product mix, lower discounts as well as slightly positive currency impacts led to margin improvements. The operating result (EBIT) grew by 28.4% from EUR 299.8 million last year to EUR 385.0 million in the first nine months of 2019 due to a strong sales growth combined with an increased gross profit margin and a slight operating leverage. This led to an improved EBIT-margin of 9.6% compared to 8.8% in the first nine months last year. Working Capital Outlook 2019 Rounding differences may be observed in the percentage and numerical values expressed in millions of Euro since the underlying calculations are always based on thousands of Euro.
Rounding differences may be observed in the percentage and numerical values expressed in millions of Euro since the underlying calculations are always based on thousands of Euro.
The financial releases and other financial information are available on the Internet at "about.puma.com". Media Relations: Investor Relations: Notes to the editors: - The financial reports are posted on www.about.puma.com. - PUMA SE stock symbol: Reuters: PUMG.DE, Bloomberg: PUM GY, Notes relating to forward-looking statements:
PUMA is one of the world's leading Sports Brands, designing, developing, selling and marketing footwear, apparel and accessories. For 70 years, PUMA has relentlessly pushed sport and culture forward by creating fast products for the world's fastest athletes. PUMA offers performance and sport-inspired lifestyle products in categories such as Football, Running and Training, Basketball, Golf, and Motorsports. It collaborates with renowned designers and brands to bring sport influences into street culture and fashion. The PUMA Group owns the brands PUMA, Cobra Golf and stichd. The company distributes its products in more than 120 countries, employs more than 13,000 people worldwide, and is headquartered in Herzogenaurach/Germany.
24.10.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | PUMA SE |
PUMA WAY 1 | |
91074 Herzogenaurach | |
Germany | |
Phone: | +49 9132 81 0 |
Fax: | +49 9132 81 42375 |
E-mail: | [email protected] |
Internet: | www.puma.com |
ISIN: | DE0006969603 |
WKN: | 696960 |
Indices: | MDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange |
EQS News ID: | 895803 |
End of News | DGAP News Service |
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895803 24.10.2019