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    PUM   DE0006969603

PUMA SE

(PUM)
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Puma : reaffirms positive outlook despite supply chain strain

07/29/2021 | 02:50am EDT
FILE PHOTO: A Puma handbag is pictured in a shop after the company's annual news conference in Herzogenaurach

BERLIN, July 29 (Reuters) - German sportswear company Puma said on Thursday it remained concerned about the strain the coronavirus pandemic is putting on its supply chain, but reiterated the mid-term outlook for the sector and company remained positive.

Chief Executive Bjorn Gulden said Puma was able to overcome shortages of freight capacity, harbour congestion and COVID-19 restrictions in some countries to report strong sales and earnings growth in the second quarter thanks to strong demand.

"We are, of course, still worried about the impact COVID-19 will continue to have on our business in the short-term, now especially in the supply chain," Gulden said in a statement.

"But we continue to be very positive for the mid-term outlook for our sector in general and specifically for PUMA."

The company, which outfitted Puma European soccer champions Italy, confirmed preliminary second-quarter sales and earnings figures released two weeks ago with currency-adjusted sales nearly doubling to 1.59 billion euros ($1.88 billion) and earnings before interest and taxes (EBIT) of around 109 million euros.

The company also reaffirmed its 2021 outlook for currency-adjusted sales increase of at least 20% after earlier predicting percentage growth in mid-teens. ($1 = 0.8435 euros) (Reporting by Tomasz Janowski Editing by Caroline Copley)


ę Reuters 2021
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Analyst Recommendations on PUMA SE
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Financials
Sales 2021 6 498 M 7 615 M 7 615 M
Net income 2021 298 M 349 M 349 M
Net Debt 2021 427 M 500 M 500 M
P/E ratio 2021 49,7x
Yield 2021 0,59%
Capitalization 14 806 M 17 337 M 17 349 M
EV / Sales 2021 2,34x
EV / Sales 2022 2,04x
Nbr of Employees 14 767
Free-Float 60,8%
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Mean consensus BUY
Number of Analysts 21
Last Close Price 98,98 €
Average target price 115,53 €
Spread / Average Target 16,7%
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Managers and Directors
Bj°rn Gulden Chief Executive Officer
Hubert Hinterseher Chief Financial Officer
Jean-Franšois Edmond Robert Palus Chairman-Supervisory Board
Martin K÷ppel Member-Supervisory Board
Bernd Illig Member-Supervisory Board
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