Puma confirms operating profit, sales outlook after Q3 results

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BERLIN (JP) -German sportswear maker Puma reiterated its full-year operating result and currency-adjusted sales outlook on Wednesday, despite uncertainty on the global market, after what it said was its best third quarter in the company’s history.

The company said its earnings before interest and taxes (EBIT) rose by 12.6% on the year to 258 million euros ($257 million) while third-quarter sales rose a currency-adjusted 16.9% to 2.35 billion euros ($2.34 billion).

Despite continued effects of COVID-19-related lockdown measures in China, Puma saw sales growth in the Asia/Pacific region for the first time this year in the third quarter, it said.

“Improved product availability due to a more stable supply chain, better than expected sell-through and Puma’s continued global brand momentum overcompensated all the negative external factors,” said Gulden.

“We expect continued volatility in the market during the fourth quarter but are confident that we can deliver according to our full-year outlook,” he added.

The company expects currency-adjusted sales growth of around 15% and an EBIT between 600 and 700 million euros for 2022.

($1 = 1.0029 euros)

(Reporting by Alexander Huebner, Writing by Miranda Murray, editing by Kirsti Knolle and Paul Carrel)





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