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PUMA SE: PUMA meets Full-Year Sales Guidance
DGAP-News: PUMA SE / Key word(s): Final Results
PUMA SE: PUMA meets Full-Year Sales Guidance
20.02.2014 / 10:00
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PRESS RELEASE
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PUMA meets Full-Year Sales Guidance
Confident that new strategic direction 'Forever Faster' will initiate
Turnaround
Herzogenaurach, February 20, 2014
2013 Fourth Quarter Facts
- Consolidated sales at EUR 698 million, a currency adjusted decline of
4.7%
- OPEX improve for the fourth consecutive quarter, down 4.8% against the
same quarter last year
- EBIT before special items of EUR 1.1 million
- Special items of EUR 129 million booked, as indicated last November,
consisting of mostly non-cash effective impairments
- EPS declines to EUR -7.71 due to impact of special items
2013 Full Year Facts
- PUMA's full year consolidated sales are in line with guidance,
declining by 3% currency adjusted to around EUR 3 billion
- Gross profit margin decreases to 46.5%
- Solid OPEX reduction: The Transformation and Cost Reduction Program
drives the OPEX down 6.9% year on year
- Improved working capital position, led by strong focus on inventories
and receivables management, resulting in a EUR 37 million improvement
in free cash flow
- EBIT before special items reaches EUR 191.4 million
- EPS declines to EUR 0.36 due to impact of special items
Bjoern Gulden, Chief Executive Officer of PUMA SE: '2013 has been a
challenging year for PUMA and there is no doubt that we have issues in
terms of lack of brand heat, commercial products and desirable
distribution. Nonetheless, PUMA is a great brand and with our new brand
positioning as the Fastest Sports Brand in the World, we have a clear
vision of where we want to go. 'Forever Faster' is not only our new brand
statement, it is also our new mindset. PUMA is about fast products, fast
athletes, fast designs and fast decision making. With the re-signing of
Usain Bolt, and signing of Arsenal FC and Mario Balotelli, we further
demonstrate that we are a true sports brand. Together with our great assets
and new creative agency, we will launch our new campaign to the consumers
in Q3/2014 which is fueled by PUMA's biggest media investment in the last
decade. This is not a quick fix, but 2014 marks the start of the
turnaround'.
Fourth Quarter 2013
2013 trends reflected in fourth quarter sales performance
Group sales in the fourth quarter of 2013 remained under pressure with
sales declining 4.7% currency adjusted and 13.2% in Euro terms from EUR 805
million to EUR 698 million. This drop was driven mainly by weakening
currencies in Japan, Russia, Turkey and various countries in Latin America.
Confident that new strategic direction 'Forever Faster' will initiate
Turnaround
Herzogenaurach, February 20, 2014
2013 Fourth Quarter Facts
- Consolidated sales at EUR 698 million, a currency adjusted decline of
4.7%
- OPEX improve for the fourth consecutive quarter, down 4.8% against the
same quarter last year
- EBIT before special items of EUR 1.1 million
- Special items of EUR 129 million booked, as indicated last November,
consisting of mostly non-cash effective impairments
- EPS declines to EUR -7.71 due to impact of special items
2013 Full Year Facts
- PUMA's full year consolidated sales are in line with guidance,
declining by 3% currency adjusted to around EUR 3 billion
- Gross profit margin decreases to 46.5%
- Solid OPEX reduction: The Transformation and Cost Reduction Program
drives the OPEX down 6.9% year on year
- Improved working capital position, led by strong focus on inventories
and receivables management, resulting in a EUR 37 million improvement
in free cash flow
- EBIT before special items reaches EUR 191.4 million
- EPS declines to EUR 0.36 due to impact of special items
Bjoern Gulden, Chief Executive Officer of PUMA SE: '2013 has been a
challenging year for PUMA and there is no doubt that we have issues in
terms of lack of brand heat, commercial products and desirable
distribution. Nonetheless, PUMA is a great brand and with our new brand
positioning as the Fastest Sports Brand in the World, we have a clear
vision of where we want to go. 'Forever Faster' is not only our new brand
statement, it is also our new mindset. PUMA is about fast products, fast
athletes, fast designs and fast decision making. With the re-signing of
Usain Bolt, and signing of Arsenal FC and Mario Balotelli, we further
demonstrate that we are a true sports brand. Together with our great assets
and new creative agency, we will launch our new campaign to the consumers
in Q3/2014 which is fueled by PUMA's biggest media investment in the last
decade. This is not a quick fix, but 2014 marks the start of the
turnaround'.
Fourth Quarter 2013
2013 trends reflected in fourth quarter sales performance
Group sales in the fourth quarter of 2013 remained under pressure with
sales declining 4.7% currency adjusted and 13.2% in Euro terms from EUR 805
million to EUR 698 million. This drop was driven mainly by weakening
currencies in Japan, Russia, Turkey and various countries in Latin America.
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