Contact IR

If you have any questions about the PUMA share and the financial results of PUMA SE, our Investor Relations team will be happy to help you. Please be aware that we will not reply to questions relating to non-Investor Relations topics.

Mail Phone
July 27, 2004
Increase of Branded Sales and Consolidated Sales

PUMA AG announces its consolidated financial results for the 2nd Quarter and 1st Half-Year of 2004

Financial Highlights:

  • Branded sales increase 20% in Q2 and 21% ytd.
  • Consolidated sales rise 17% in Q2 and 24% ytd.
  • Gross profit margin sustained at a high level of 51%.
  • EBT increase 41% in Q2 and 53% in the first half.
  • EPS increase 47% to €3.43 and by 56% to €8.45 respectively.

Outlook:

  • Due to a strong order intake total future orders are up by 22% end of June.
  • New records expected across the board in FY 2004: Sales growth of about 20% and earnings growth of more than 30% now anticipated

Sales and earnings review

Sales momentum continues

During Q2, consolidated sales increased by 17.1% to €352 million. The Apparel segment realized the strongest growth of 26.3%, reaching €99 million. Footwear was up 13.3% to €229 million and Accessories improved by 19.2% to €25 million. On a currency neutral basis, total sales in Q2 were up 18.3%. Q2 marks the first quarter in which year-to-date comparisons reflect full consolidation of PUMA Japan, as the first-time consolidation took place April 1 of last year. Sales in the first half of 2004 grew by 23.6% to €796 million; this marks a currency neutral improvement of 26.2% versus the first half of the previous year. First half Footwear sales grew by 18.5% to €535 million, Apparel by 32.8% to €210 million and Accessories jumped by 48.1% to €51 million.

Branded sales exceed €1 billion in H1

PUMA’s branded sales, which include consolidated sales and licensee sales, reached €465 million during Q2, thus marking a 20.4% (currency adjusted 20.9%) increase over last year. During the first six months, a growth rate of 21.1% was realized, yielding YTD sales in excess of €1.0 billion. Footwear sales rose by 14.7% to €590 million, Apparel by 29.9% to €349 million and Accessories by 38.7% to €75 million. Currency adjusted growth was even higher, reaching 23.1%. After the end of H1 Footwear accounted for 58.2% (PY 61.5%), Apparel for 34.4% (PY 32.1%) and Accessories for 7.4% (PY 6.4%) of global branded sales.

Strong performance in licensed business

Overall, PUMA’s licensed business showed very positive developments. In Q2, licensee sales increased by 32% to €112 million, driven by sales in Asia. Sales in H1 increased by 12.9% to €218 million or by 34.2% excluding the first time consolidation effect from Q1. During Q2 PUMA generated royalty and commission income of €11 million. Despite the consolidation effect of the Japanese business in Q1, royalty and commission income reached €22 versus €21 million in the first half of ‘03. On a like-to-like basis, royalty and commission income increased by approximately 23%.