DGAP-News: PUMA SE / Key word(s): 9-month figures/Quarter Results QUARTERLY STATEMENT Q3 2017
Herzogenaurach, October 24, 2017 2017 Third Quarter Facts - Sales increase by 17% currency adjusted to EUR 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 EUR 101 million (last year: EUR 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 EUR 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 EUR 215 million (last year: EUR 114 million) - Net earnings almost doubled from EUR 67 million last year to EUR 134 million and earnings per share increase from EUR 4.48 last year to EUR 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 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. Operating expenses (OPEX) grew by 11.4% to EUR 442.6 million in the third quarter. The increase was driven by higher marketing, selling and retail expenses, while costs for other operating functions grew only moderately. The operating result (EBIT) increased from EUR 60.3 million last year to EUR 101.2 million due to strong sales growth combined with an improved gross profit margin. Net earnings rose from EUR 39.5 million to EUR 62.1 million and earnings per share increased correspondingly from EUR 2.64 to EUR 4.16 in the third quarter. Nine Months 2017 Including eCommerce, PUMA's own and operated retail sales rose by 22.0% currency adjusted to EUR 673.0 million. This represents a share of 21.7% of total sales for the nine-month period (20.6% in the previous year). The performance was achieved by positive like-for-like growth in our existing retail stores, opening of new stores and strong growth in our eCommerce business. The gross profit margin improved by 120 basis points from 46.1% to 47.3% in the first nine months of 2017. The increase of the gross profit margin, despite the negative currency impacts, was driven by further improvements in sourcing, higher sales of new products with a higher margin and selective price adjustments. Operating expenses (OPEX) rose by 11.7% and amounted to EUR 1,260.3 million. The increase was due to higher sales-related variable costs, intensified marketing activities and investments in own retail stores. Costs for other operating functions grew only moderately.
The operating result (EBIT) improved from EUR 113.5 million last year to EUR 214.8 million in the first nine months of 2017. This development underlines the improved operating performance, with strong sales growth, a higher gross profit margin and an improved operating leverage. Working Capital Outlook 2017 Financial Calendar FY 2017:
April 12, 2017 Annual General Meeting April 25, 2017 Quarterly Statement Q1 2017 July 26, 2017 Interim Report Q2 2017 October 24, 2017 Quarterly Statement Q3 2017 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 over 65 years, PUMA has established a history of making fast product designs for the fastest athletes on the planet. 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 designs to the sports world. The PUMA Group owns the brands PUMA, Cobra Golf and Dobotex. The company distributes its products in more than 120 countries, employs more than 10,000 people worldwide, and is headquartered in Herzogenaurach/Germany. For more information, please visit http://www.puma.com
24.10.2017 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 2246 |
E-mail: | investor-relations@puma.com |
Internet: | www.puma.com |
ISIN: | DE0006969603 |
WKN: | 696960 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |
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