PUMA AG announces its consolidated financial results for the 4th Quarter and Financial Year 2004

Highlights Q4:

• Consolidated sales up 20%
• 51.9% strongest gross profit margin in a fourth quarter
• EBT above expectation
• EPS reaches 2.31 € versus 1.51 € in last year’s quarter

Highlights FY 2004:

• Worldwide brand sales exceed € 2 billion for the first time
• Consolidated sales up almost 23% currency adjusted
• Gross profit margin reaches new record at 51.9%
• EBT once again on record level with €371 million
• EPS increases 43% to 16.06 €
  
  

Outlook:

• Management expects new record in sales and further increase in earnings
• Future orders increase by nearly 18% currency adjusted
  
  

In the 2004 financial year, PUMA continued the positive development of previous years and further expanded its position as a desirable Sportlifestyle brand. The financial targets set at the beginning of the year were significantly exceeded. The financial year closed with double-digit growth for the sixth consecutive year. For the first time, worldwide brand sales reached the € 2 billion mark with a currency-adjusted increase of over 21%. Consolidated sales rose 23%. In addition to the strong sales growth, the gross profit margin likewise climbed to a new record high of nearly 52%. Pre-tax profit reached € 371 million, growing faster than sales for the sixth consecutive year. Earnings per share jumped from € 11.26 to € 16.06. At year-end, PUMA’s share was listed at € 202.30. This corresponds to another significant value increase of 45% compared to the end of the previous year.