PUMA publishes preliminary results for the third quarter 2017 and raises full-year guidance for 2017

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Herzogenaurach, Germany, October 18, 2017

PUMA SE (ISIN: DE00069696303 WKN: 696960)
PUMA WAY 1, D-91074 Herzogenaurach

 

PUMA SE publishes preliminary results for the third quarter 2017 and raises its guidance for the full-year 2017.

In the third quarter 2017, consolidated sales increased currency adjusted by approx. 17% (approx. 13% in reported terms) to € 1,122 million compared to € 990 million in the third quarter last year. The operating result (EBIT) in the third quarter 2017 increased to approx. € 101 million (Q3 2016: € 60 million).

 

In light of the strong third-quarter increase in sales and profitability as well as the positive business outlook for the fourth quarter of 2017, PUMA raises the full-year guidance for its consolidated sales, gross profit margin, operating expenses and operating result (EBIT).

The Management now expects that currency adjusted sales will increase between 14% and 16% (previous guidance: currency adjusted increase between 12% and 14%). The gross profit margin is now anticipated to improve to approx. 46.5% (previous guidance: approx. 46.0%). Due to the expected increase in sales, the Management now foresees operating expenses (OPEX) to increase at a low double-digit percentage rate (previous guidance: increase at a high single-digit percentage rate).

As a consequence, the operating result (EBIT) is now anticipated to come in between
€ 235 million and € 245 million (previous guidance: between € 205 million and € 215 million). In line with the previous guidance, the Management still expects that net earnings will improve significantly in 2017.

A complete overview of PUMA’s business development for the third quarter 2017 and the first nine months of 2017 will be published on October 24, 2017.