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PUMA SE: First Quarter Sales Show Growth of PUMA

DGAP-News: PUMA SE / Key word(s): Quarter Results
PUMA SE: First Quarter Sales Show Growth of PUMA

06.05.2015 / 08:33

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PRESS RELEASE

First Quarter Sales Show Growth of PUMA

Currency effects weigh on reported margins

Herzogenaurach, May 6, 2015

2015 First Quarter Facts
- Sales up by 4.4% currency-adjusted (+13.2% reported) to EUR 821
million, growth across all regions and mainly driven by Footwear

- Gross profit margin down, solely due to foreign currency impacts

- OPEX increase because of marketing expenses, investments in IT, opening
of new retail stores, also strongly impacted by unfavorable currency
rates

- EBIT stands at EUR 38 million

- PUMA IGNITE running shoe technology successfully launched in February

- Outlook adjusted to reflect currency impact


Bjørn Gulden, Chief Executive Officer of PUMA SE: "PUMA's first quarter
sales grew slightly stronger than expected. This was mainly caused by a
very positive development in footwear. We are working very hard to improve
our product offer, and although we know we have some ways to go, we feel
that this growth in footwear confirms that we are on the right path.
The negative development in currencies, had a significant negative impact
on our gross profit margin and operational expenses and therefore also on
our EBIT and net earnings. We do work hard to "counter" these negative
currency effects, but do currently not have enough leverage to fully
neutralize the impact and have therefore adjusted our outlook for the full
year EBIT and net earnings.
We will continue our strategy to become the Fastest Sports Brand in the
World and will continue to invest in Product, Marketing, Retail and IT to
lay the foundation for solid profitable growth in the future."

Sales growth in the first quarter
PUMA's first quarter sales performance in 2015 was slightly ahead of our
expectations. Currency-adjusted sales increased by 4.4% to EUR 821 million.
In reported terms, this corresponds to a growth of 13.2%.

Positive sales development in all regions
Sales in the EMEA region rose by 0.2% currency-adjusted to EUR 342 million.
Southern European countries developed positively in the first quarter,
while the United Kingdom saw a decline due to a softer Lifestyle business.
The Middle East and Africa regions continued to show a solid performance in
most of the countries and across all categories.