Puma releases preliminary results for the Q2

Germany
Published:  21 July, 2021
Credit: Puma

In light of the German footwear manufacturer’s successful product launches with high sell-throughs and strong growth across all regions, especially in North America, Puma’s currency-adjusted sales increased by approximately 96% to €1,589 million (Q2 2020: €831 million) and the operating result (EBIT) increased to approximately €109 million (Q2 2020: -€115 million) in the second quarter of 2021.

Considering this strong second-quarter growth in sales and profitability, as well as the continued uncertainties related to the Covid-19 pandemic, political tensions in key markets and supply chain constraints due to container shortages and port congestion, Puma now expects the currency-adjusted sales to increase by at least 20%, as opposed to the previous outlook of mid-teens currency-adjusted sales growth, in the financial year 2021.

Puma’s outlook for the operating result (EBIT) has been further specified and is now anticipated to come in between €400 million and €500 million, compared with the previous outlook of “significant improvement”. In line with the previous outlook, Puma have not provided a detailed outlook on its gross profit margin. Its net earnings are still expected to improve significantly in 2021.

The achievement of Puma’s outlook is said to be subject to continued manufacturing operations in key sourcing countries such as Vietnam and China, with no major interruptions due to Covid-19.

A complete overview of Puma’s business development for the second quarter 2021 will be published on July 29, 2021.