herzogenaurach, germany - december 14, 2018
vincent kompany drops leather shoes in favour of puma future

PUMA Football and citizens captain Vincent Kompany have signed a long-term partnership, which will see the Belgian defender hang up his leather shoes and step into the PUMA Future for his next game.

Having 87 caps for Belgium, Kompany has become a role model and unifying figure in his linguistically-divided home country, which came in third during the international tournament in Russia last summer.

Kompany, who helped his club win three league titles with his impressive defending statistics, winning over 1000 duels and making some 1500 clearances in the league alone, is well known for preferring all-leather boots.

For his partnership with PUMA, however, he will sport the PUMA Future, which combines state-of-the-art NETFIT technology with a form-fitting textile base material and knitted ankle sock for infinite lacing options.

“What is crazy is that I was a leather boot only guy till I tried Future. As soon as I laced up in them, I knew it would be an exciting boot to play in. I’m really looking forward to wearing them on the pitch and seeing how they evolve over the next few years,” said Vincent Kompany.

“I have always been an aggressive player, it is a big part of my game, so when a brand like PUMA approached me to work with them, I was incredibly happy, because for me PUMA is a brand that as well as having such a great heritage in football, creates brave and forward-thinking products,” he added.

Vincent Kompany will wear the PUMA Future ‘Stun Pack’ from the 14 of December.

westford, massachusetts, usa - january 18, 2019
PUMA Establishes New North American Headquarters

Move to larger, unified location at Assembly Row in Somerville, Mass. will provide for growth and best-in-class employee experience

As part of its growth, retention and recruitment strategy, sports company PUMA North America, Inc. today announced plans to establish a new North American headquarters in Somerville, Mass. in 2021. The new headquarters will bring together two PUMA offices, currently based in Boston and Westford.

“We’re excited to bring together our talented North American employees in Somerville, a diverse, vibrant city that reflects our values and culture, and will allow us to retain and recruit the best talent across our front and back-end operations,” said Bob Philion, President and CEO of PUMA North America. “This new headquarters will allow us to better collaborate, foster diversity of thought, creativity and innovation, and have fun while doing it.”
 
The new headquarters, located at 455 Grand Union Blvd., in Somerville, provides the company with five floors of office space totaling 150,000 square feet. PUMA intends to have approximately 550 positions at the location once the move is complete, representing a more than 20 percent growth of its workforce. There will also be a 19,000-square-foot roof deck, complete with a recreational area and basketball court. The facility provides employees access to a state-of-the-art fitness center, an on-location kids room, ample bike storage and a 2,300-square-foot balcony. The new space is steps away from the MBTA Orange Line Assembly Square stop and provides employees easy access to Assembly Row’s abundant dining, shopping and health and wellness benefits. PUMA has operated a retail location at Assembly Row since 2014.

“Our brand mantra, ‘Forever Faster,’ spans everything we do—from making to marketing and every discipline in between,” said Adam Petrick, Global Director of Brand and Marketing at PUMA. “We need to be faster than ever in the way we react and adapt. Somerville is a city buzzing with creative, diverse energy that will help us live out our ‘Forever Faster’ mentality.”
 
A long-term lease for the space—a soon-to-be-built 300,000-square-foot building—has been negotiated with developer and landlord Federal Realty Investment Trust. PUMA North America was represented by Michael Joyce at Cushman & Wakefield. Federal Realty was represented by Joe Flaherty at JLL. Assembly Row is easily accessible via Interstate 93 and the MBTA, providing ease of access for the company’s urban and suburban employees.
 
“We are excited and proud to welcome one of the world’s most recognizable brands to Somerville and look forward to introducing PUMA to our talented and diverse workforce,” said Somerville Mayor Joseph A. Curtatone. “An energetic, creative and forward-looking company like PUMA will fit right in with the innovation culture that is thriving here and continuing to grow.” 

To learn more about PUMA North America careers, visit our website.

 

Download the Media Kit below to get the press release and picture.

The picture shows an exterior rendering of PUMA’s new North American headquarters at Assembly Row in Somerville, Mass. The company will relocate there in 2021

Picture Rendering Credit: PUMA/ Federal Realty Investment Trust 

herzogenaurach, germany - january 22, 2019
PUMA signs multi-year partnership with Egypt Football Association

Sports company PUMA has signed a new multi-year partnership with the Egyptian Football Association, which will see the brand once again team up with Africa’s most successful team.

The deal allows PUMA to continue its proud legacy with teams on the African continent and cement its reputation as a leading supplier to football teams in the region.

“Egypt has an amazing track record and we are very excited to once again supply them with our products”, said Johan Adamsson, Director of Sports Marketing & Sports Licensing at PUMA. “We hope that PUMA and the Pharaohs can continue where they left off, by taking the title in the next Africa Cup of Nations in 2019.”

The partnership between PUMA and Egypt will build on a proud legacy: When the Pharaohs last wore PUMA, they won three consecutive continental titles between 2006 and 2010, an unprecedented feat in the tournament’s history. Overall, Egypt has won seven continental titles, making it the most successful team in African football.

Starting 2019, PUMA will provide all representative national teams, including men’s, women’s and youth teams, with official kits.

“It is great to be back with the big cat in 2019. We share many happy and successful memories together and hope we will hit the ground running in what will be a very important year for Egyptian football,” said Hany Abo Rida, President of the Egyptian Football Association.

 

To get the Press Release and image, download the Media Kit below.

Herzogenaurach, Germany - January 29, 2019
PUMA appoints Anne-Laure Descours as Chief Sourcing Officer and Member of the Management Board

The Supervisory Board of PUMA SE has decided to create a dedicated Board position for Sourcing and has appointed Anne-Laure Descours (53) as Chief Sourcing Officer and Member of the Management Board of PUMA SE, effective 1 February 2019.

Anne-Laure Descours joined PUMA in 2012 and has been overseeing the product development and sourcing activities of all global Apparel and Accessories for the PUMA Group since then. The French national has almost 30 years of experience in the sourcing industry. Prior to PUMA, she worked for international sourcing organisations, such as Li & Fung and Otto International, all based in Hong Kong. As Chief Sourcing Officer, she will also be responsible for sustainability within the PUMA Group. She will continue to be primarily based in Hong Kong.
 
PUMA’s Chief Operating Officer Lars Radoor Sørensen has - together with the Supervisory Board – decided to step down as board member of PUMA SE, effective 31 January 2019, to pursue other interests. Lars joined PUMA in 2013 and was appointed Managing Director in 2014. As Chief Operating Officer, he was in charge of Sourcing, IT, and Logistics. IT and Logistics will now be reporting to PUMA’s Chief Financial Officer Michael Lämmermann. The Supervisory Board would like to thank Lars for his efforts and contribution to the company’s success.

 

Download the Media Kit below to get the Press Release and Picture.

hong kong - january 31, 2019
PUMA® INTRODUCES SELF-LACING TRAINING SHOE FIT INTELLIGENCE

Sports Company to select tech-savvy people to beta test most advanced technology platform for performance fit

Sports company PUMA has introduced its new state-of-the-art technology platform Fit Intelligence (Fi) that is designed to automate and finetune performance fit for PUMA footwear.

The first Fi footwear style to be launched is a training shoe that is made for workouts and light running. It employs a micromotor to power a uniquely configured cable system that “laces” the shoe, either through simply swiping on the Fi module up or down. It comes with a smart sensing capability that learns the shape of the foot of each user and adapts the fit of the shoe to the individual. Athletes can also monitor, adjust and finetune fit through a smartphone app. To make things even more athlete-friendly, users can make on-the-fly adjustments with their Apple watch. The technology was built to train smart and is designed for modern mobility. It can handle the urban landscape and the gym making it right for the daily routine of a connected generation. “We have created a product that speaks to the future of sport which is life in motion. It’s fast and changing all the time,” said Charles Johnson, PUMA’s Global Director of Innovation.

Fit Intelligence can be deployed to a range of different sport and lifestyle products. It follows PUMA’s vision for performance products that are Adaptive Dynamic and respond to athletes and their environment. Through Fit Intelligence, PUMA has made fit intelligent and adaptive to each user.

 

Fit Intelligence

PUMA has a 70-year history of being a leader in sports and innovation. In 1968, the brand crafted the first laceless sports shoe with Velcro™ straps, in 1991 the first cable closure with the PUMA Disc and in 2016 the first ever wirelessly connected adaptive fit shoe called AutoDisc. 
The AutoDisc was the predecessor to Fit Intelligence and since then, the company has been working tirelessly on improving functionality, user interface and durability.

The result is now a technology that is smaller, lighter and more commercial, with a breathable upper for more comfortable trainings. It also comes with an industrial grade fiber support system strategically placed for optimal hold and a forefoot lockdown band.  

The reveal event took place in Hong Kong, the global hub that connects beta technology with mass production. It is among the most diverse and hyper connected urban settings on earth, fitting to the active mobile lifestyle, for which Fit Intelligence was designed. Attendees saw a video testimonial of Fi put to the test by global technology investment icon Bay McLaughlin. Technology professionals and fans got a real-world view on how Fi delivers to unmet needs of connected entrepreneurs. 

Fit Intelligence

To view a replay of the event, click here
To view the tech video, click here

“As a global investor in wearable technologies, I know how hard it is to get a product like Fi right and after my first week with the shoes, it’s clear that PUMA is taking this platform very seriously and I’m impressed”, said Bay McLaughlin.

To be able to fully adapt to our consumers’ needs, PUMA – for the first time ever - will allow tech-savvy people to participate in beta testing of Fi to help the Brand think of ways of making it even smarter and more powerful. “Fi is a platform that can be used for many different things. We want to learn what those things are from people who have experienced it,” said Charles Johnson. The testers will be able to give feedback on the usability, design, engineering, and wearability of the shoe. Through this, PUMA is able to work hand in hand with its consumers to create the best smart fitting product in the market.

Anyone can sign up for the Fi Beta Test program through PUMATRAC, PUMAs training app which is available on the App Store and on Google Play. People will get the opportunity to register for the program, start a workout, go for a run or connect with friends. PUMA will announce on PUMATrac and its website when and how to sign up.

The Fi training shoe will be available for consumers in 2020.

Follow @PUMA and @PUMAperformance or visit https://about.puma.com/en/innovation to learn more about PUMA’s innovative products.

To get pictures, videos and the Press Release, download the Media Kit below.

Fit Intelligence
herzogenaurach - february 14, 2019
PUMA DELIVERS STRONG GROWTH IN SALES AND PROFITABILITY IN 2018

Download the Media Kit below to get the press release and picture

2018 Fourth Quarter Facts

 

  • Sales increase by 20.1% currency adjusted to € 1,226 million (+17.9% reported) with strong growth in all regions and product segments
  • Gross profit margin remains stable at a high level of 47.1% 
  • Operating expenses (OPEX) increase by 17.1% due to higher sales related variable costs as well as higher marketing and retail investments
  • Operating result (EBIT) improves from € 30 million last year to € 38 million 
  • Strong sell-through of newly launched footwear franchises RS-X and Cali
  • PUMA sponsored team Denmark wins Handball World Cup 

 

2018 Full-Year Facts

  • Full-year sales increase by 17.6% currency adjusted to € 4,648 million (+12.4% reported) with double-digit growth in all regions and product segments
  • Gross profit margin improves by 110 basis points to 48.4%, supported by higher margins in all product segments
  • Increase in operating expenses of 11.8% provides slight operating leverage
  • Operating result (EBIT) improves strongly by 37.9% from € 245 million to € 337 million 
  • Net earnings and earnings per share increase by 38.0% from € 135.8 million to € 187.4 million and from € 9.09 to € 12.54 respectively
  • Free Cashflow improves from € 128 million to € 173 million 
  • A dividend of € 3.50 per share for 2018 to be proposed at the Annual General Meeting
  • PUMA share returns to M-DAX in June 2018
  • Strong new styles Thunder, RS-0 and RS-X established in the “chunky shoe” category
  • PUMA re-enters basketball category after 20 years
  • PUMA signs supermodel Adriana Lima as women’s training ambassador

Bjørn Gulden, Chief Executive Officer of PUMA SE: 

“We are very happy with how our business developed in 2018. Sales rose organically by 17.6% to €4,648 million and the operating result (Ebit) improved by 37.9% % to €337 million, which  shows our strong momentum.
The double-digit growth in all regions is a proof that the we have strenghtened the PUMA brand globally and the double-digit growth in all product divisions shows that we have enhanced our product portfolio.
We still have a lot to improve, but we feel we are moving our brand and company in a good direction. We see that our progress will also continue in 2019 and expect our currency adjusted sales to grow around 10% and our operating result to increase to a range between €395 million and €415 million.”

Info-Grafic Full Year Results

Fourth Quarter 2018

 

Sales

PUMA's sales growth continued in the fourth quarter of 2018. Sales increased by 20.1% currency adjusted to € 1,226.4 million (+17.9% reported), compared to € 1,040.2 million in the previous year. Sales growth was particularly strong in the Asia/Pacific region followed by the Americas, both increasing at double-digit rates. Both Apparel and Footwear showed strong growth in the fourth quarter of 2018, improving 28.6% and 17.4% respectively. For Footwear, it was the 18th consecutive quarter of sales growth.

 

Gross Profit Margin and Operating Expenses

The gross profit margin in the fourth quarter remained stable at a high level of 47.1%, despite negative currency impacts in the quarter. 

Operating expenses (OPEX) rose by 17.1% to € 544.9 million in the fourth quarter, caused by higher sales-related, variable costs and a step-up in retail investments, including e-commerce. Football sponsorships, marketing initiatives for new footwear franchises and the launch of the basketball category led to higher marketing costs. 

 

 

 

Operating Result and Net Earnings

The operating result (EBIT) improved by 26.1% from € 29.8 million to € 37.6 million in the fourth quarter 2018. The improvement in profitability was due to the strong sales growth combined with an OPEX increase at a slightly lower rate than sales. 

Net earnings in the fourth quarter 2018 improved significantly from € 2.2 million last year to € 15.7 million and earnings per share increased correspondingly from € 0.14 last year to € 1.05.
 

 

 

Full Year 2018

 

Sales

In the financial year 2018, PUMA’s sales increased by 17.6% currency adjusted to € 4,648.3 million (+12.4% reported). The significant difference between reported and currency-adjusted sales growth was due to the weakness of several major currencies against the Euro. 

In the EMEA region, sales rose by 11.4% currency adjusted to € 1,800.3 million (+9.4% reported). The main growth drivers in the region were France, Spain, the United Kingdom as well as Russia and Turkey, which all posted double-digit sales growth. 

Sales in the Americas region went up by 16.9% currency adjusted to € 1,612.5 million (+7.9% reported), with both North and Latin America contributing double-digit growth rates. The weakness of the Argentinian Peso against the Euro, however, led to the significant negative currency impact in the region. 

Growth was particularly strong in the Asia/Pacific (APAC) region, where currency-adjusted sales rose by 28.8% (reported +24.2%), mainly driven by high growth in China and Korea, while sales in Japan increased at a more moderate mid to high single-digit rate. 

Footwear continued to be a strong sales driver throughout the year. Sales were up 16.6% currency adjusted to € 2,184.7 million (+10.6% reported), exceeding the € 2 billion sales mark for the first time. Running and Training as well as Sportstyle were the categories with the strongest growth rates.

In the Apparel segment, sales rose by 22.2% currency adjusted to € 1,687.5 million (+17.1% reported). Logo-driven apparel within our Sportstyle category and new product launches in the Teamsport and Motorsport categories contributed to this increase.

Sales in Accessories grew by 11.0% currency adjusted to € 776.1 million (+7.8% reported). This increase was mainly driven by higher sales of legwear and bodywear products.

Including e-commerce, PUMA's retail sales increased by 24.0% currency-adjusted to € 1.127,5 million. This represents a share of 24.3% of total sales in 2018 (2017: 23.2%). Like-for-like sales growth in our retail stores, the extension of our retail store network as well as the extensive growth of our e-commerce business contributed to this rise.

 

 

Gross Profit Margin and Operating Expenses

The gross profit margin improved by 110 basis points from 47.3% to 48.4% in 2018. This increase was mainly driven by further improvements in sourcing and higher sales of new products with a higher margin. In addition, a higher share of own retail sales and the regional sales mix with stronger growth in Asia had a slight positive effect on the gross profit margin development as well. There were no full-year currency effects on the gross profit margin compared with the previous year, as positive and negative effects during the year cancelled each other out on a full-year basis.
The gross profit margin in the Footwear segment improved by 30 basis points to 45.8%. In Apparel, margins rose from 49.0% to 50.9% and Accessories margins increased from 48.5% to 50.3% in 2018.

Operating expenses (OPEX) rose by 11.8% and amounted to € 1,928.4 million in 2018. Intensified marketing activities, the refurbishment and extension of our own retail store network, including our e-commerce business as well as further investments into our IT-infrastructure have led to this increase. The OPEX ratio in percentage of total sales decreased from 41.7% in 2017 to 41.5% in 2018. This reflects operating leverage and contributes to the improvement of profitability in 2018.

 

 

Operating Result and Net Earnings

The operating result (EBIT) improved significantly by 37.9% from € 244.6 million to € 337.4 million in 2018, which was slightly above the upper end of the revised EBIT guidance of a range between € 325 million and € 335 million. This development reflects the improvement of PUMA’s profitability and was achieved through strong sales growth combined with a higher gross profit margin as well as operating leverage. As a result, the EBIT margin went up from 5.9% in 2017 to 7.3% in 2018. 

The financial result decreased from € -13.4 million in 2017 to € -24.0 million and was mainly impacted by higher expenses related to currency conversion differences. 

The tax rate for the full year 2018 amounted to a slightly lower rate of 26.7% compared to 27.4% last year, while the total tax expense increased to € 83.6 million in 2018 (2017: € 63.3 million).

Net earnings increased by 38.0% from € 135.8 million last year to € 187.4 million in 2018. This translates into improved earnings per share of € 12.54 compared to € 9.09 last year.

 

 

Working Capital

Despite a significant increase in sales and an increased number of own retail stores, working capital rose only slightly by 2.0% from € 493.9 million to € 503.9 million in 2018. Inventories grew by 17.5% to € 915.1 million mainly related to the planned sales growth from the 2019 spring/summer collection. Trade receivables rose by 9.9% from € 503.7 to € 553.7 million. On the liabilities side, trade payables and other current liabilities increased by 21.0% to a total of € 1,152.6 million (last year: total of 952.2 million).

 

cashflow

The free cash flow improved from € 128.5 million in 2017 to € 172.9 million in 2018. This development was a result of considerably higher earnings before taxes (EBT) and the only moderate increase in working capital. As of December 31, 2018, PUMA’s cash position amounted to € 463.7 million compared to € 415.0 million at the balance sheet date last year. 

 

proposal of dividend of € 3.50 per share

Based on PUMA’s positive business development in 2018 with an improvement of profitability and cash flow, the Management Board and the Supervisory Board of PUMA SE will propose to the Annual General Meeting on April18, 2019, a dividend of € 3.50 per share for the financial year 2018. This represents a payout ratio of 27.9% as a percentage of net earnings, in line with PUMA SE's dividend policy, which foresees a payout ratio of 25% to 35%.

 

brand and strategy update

In the year of PUMA’s 70th anniversary, we kept going full speed to pursue our goal of becoming the world’s fastest sports brand. We further strengthened our position in sports performance. This includes our return to basketball, the signings of top football clubs, such as A.C. Milan, Olympique de Marseille, Borussia Mönchengladbach and São Paulo based Palmeiras, as well as the outstanding performances of our partnered teams, athletes and federations. 

Over the past five years, we have focused on five strategic priorities: creating brand heat, a competitive product range, a leading offer for women, improved distribution quality and organizational speed. In 2018, we added a sixth priority with the aim of strengthening our position in the North American sports market – the reentry into basketball. 

Both from a sports and business perspective, PUMA’s return to Basketball was off to a promising start. Together with entrepreneur, business mogul and PUMA Basketball Creative Director Jay-Z, we rolled out an exciting campaign, that resonated well with athletes, media and fans. Our first shoe in this category after 20 years, the Clyde Court Disrupt, quickly sold out. The signings of some of the biggest names in basketball, such as Skylar Diggins-Smith, Terry Rozier, Rudy Gay, Danny Green and four-time NBA All-star DeMarcus Cousins, underpinned our performance credibility. In addition, we signed the Top Picks in the annual NBA draft Deandre Ayton, Marvin Bagley III, Kevin Knox, Michael Porter Jr and Zhaire Smith.

For our Football category, the FIFA World Cup 2018 in Russia was the perfect stage to present the PUMA brand and our innovative performance products. Our four partnered national teams Uruguay, Switzerland, Serbia and Senegal as well as our impressive roster of players ensured high brand visibility on the pitch. Uruguay and Switzerland secured PUMA’s presence in the knockout stage, while PUMA players Antoine Griezmann and Romelu Lukaku emerged as two of the top three scorers of the tournament. Antoine Griezmann was even named “FIFA Man of the Match” after scoring the winning goal in the final. All our players were equipped with special editions of the football boots PUMA FUTURE or PUMA ONE. 
We also continued to grow our portfolio of players by signing international football stars, such as Barcelona and Uruguay striker Luis Suarez, Vincent Kompany (Manchester City), Axel Witsel (Borussia Dortmund), David Silva (Manchester City), Dejan Lovren (FC Liverpool) and Davie Selke (Hertha BSC). 

Our Running and Training category thrived on the extraordinary performances of our track-and-field athletes along with the introduction of innovative products. The 19-year-old Cuban Juan Miguel Echevarria did not only win Gold at the Diamond League Meeting in Stockholm, but also claimed the IAAF title “Highlight of the Season 2018” with his incredible long-jump of 8.83 meters. We also signed additional top athletes, such as Europe’s “fastest man”, French sprinter Jimmy Vicaut. 
With our running shoes HYBRID RUNNER and HYBRID ROCKET, we introduced an entirely new midsole technology to the market. 

In our Women’s category, we welcomed supermodel Adriana Lima to the PUMA family as an ambassador for Women’s Training. On the product side, our shoe styles PHENOM and DEFY, worn by popstar and social media influencer Selena Gomez, were a great success with our female consumers.

In Motorsport, PUMA Formula One partners MERCEDES-AMG Petronas, Scuderia FERRARI and RED BULL Racing once again dominated the season. The championship titles were claimed by Mercedes and Lewis Hamilton – representing Lewis’ fifth career title. 
PUMA Motorsport lifestyle products were in growing demand, particularly in the USA and France. 

In our Golf category, our players Rickie Fowler, Lexi Thompson and Bryson DeChambeau continued to add excitement to the PUMA and COBRA Golf brands with numerous victories.  Bryson DeChambeau caused a stir with his ONE Length irons, winning five tournaments with this to date unique concept.

In our Sportstyle business, we proved that our “Forever Faster” spirit has already been deeply engrained into the way we do business. When consumers asked for “chunky shoes”, a reemerging sneaker trend from the 1990s featuring thick soles and an overall chunky look, we reacted immediately and introduced our successful new style platforms Thunder, RS-0 and the RS-X. 

Apart from PUMA’s 70th birthday, we celebrated another anniversary: the Suede, one of our greatest classics, turned 50. We marked this occasion with a string of special editions and collaborations with several designers, artists and brands. Throughout the year, we launched new Suede editions with designs by fashion icon Karl Lagerfeld, rock legend Paul Stanley and cartoon character Hello Kitty to name but a few.

We continued to improve the quality of our distribution channels. We have worked hard to be a flexible and service-oriented business partner in order to strengthen our relationship with key retailers and gain shelf space. Our direct-to-consumer business has been able to grow through expansion of our retail store network, like-for like sales growth in our existing stores and the continued strong growth of our eCommerce business.

To speed up our organizational processes, we further invested into our IT infrastructure with a strong focus on Business Intelligence, Planning and IT Security. Besides working on the modernization of our distribution centers worldwide, we have put our focus on the development of a new ERP systems, which will be rolled out in the coming years starting 2019. 

In 2019, PUMA will start working on a new multichannel distribution center in Geiselwind, Germany. We expect the Geiselwind center, which is the first in a series of investments and upgrades in our logistics operations, to be operational in early 2021. 

In addition to our business priorities, social, economic and environmental sustainability remains a core value for PUMA. We continued to execute our 10FOR20 strategy, while collaborating with industry peers, suppliers and NGOs to create positive impact.  

Inspired by sprint star Tommie Smith, who made a statement against racism and social inequality with his legendary “silent gesture” at the 1968 Olympics, PUMA launched the #REFORM platform in October. With the help of activists from the world of sports, music and entertainment, among others American rapper Meek Mill, the program supports NGOs and encourages conversations around issues such as universal equality and criminal justice reform in the United States.  

The PUMA share returned to the M-Dax in June last year, after our former majority shareholder Kering S.A. distributed approximately 70% of PUMA shares to its shareholders. 
 

 

outlook 2019

Our business developed strongly in 2018, both in terms of net sales and profitability. We are confident that the positive development will continue in 2019.

For the full year 2019, we therefore expect currency-adjusted sales growth of around 10%. We forecast the gross profit margin to show a slight improvement compared to last year (2018: 48.4%) and operating expenses (OPEX) to increase at a slightly lower rate than sales. Based on the current exchange rate levels, management expects an operating result (EBIT) for the financial year 2019 in a range between € 395 million and € 415 million (2018: € 337.4 million). Management also expects a significant improvement of net earnings in 2019. 
With that, PUMA is well on track towards achieving our medium-term ambition of 10% EBIT margin by 2021/22 with average annual sales growth of 10% in constant currency.

The new accounting standard relating to lease accounting (IFRS 16), which has been effective since January 1, 2019, leads to a capitalization of the operating leases on the balance sheet (an increase of approximately € 618 million in assets and liabilities on January 1st, 2019). The outlook for the operating result (EBIT) in a range of € 395 million to € 415 million (see above) includes a positive effect of approximately € 16 million caused by the new accounting standard. Taking into account interest and deferred tax effects of IFRS 16, the estimated impact on net earnings in 2019 is, however, a negative amount of approximately € 7 million.
Please refer to the Notes to the Consolidated Financial Statements, Chapter 1 General, for a detailed description of the new accounting standards and the effects of the first-time application of IFRS 16 Leases. 

 

 

Find our Financial Calendar for the Full Year 2019 here

Berlin, germany - february 22, 2019
porsche design and puma celebrate the launch of a new sportswear collection

Lifestyle and performance wear for city streets

“Driven by urban dynamics” was the concept presented in style at yesterday’s launch event for the first high-end sportswear collection from Porsche Design and PUMA. The Kühlhaus Berlin event space offered the perfect setting for various per-formances, staged to showcase the progressive and dynamic nature of the collec-tion.

The two brands complement each other perfectly, bringing together success stories and experiences from the world of motorsport in this new partnership. The timeless, technically inspired design and premium know-how from Porsche Design combines with PUMA’s sports expertise to create the perfect synergy, as can be seen in the collection in the form of innovative cushioning systems for sports shoes, ultra-light materials and taped seams. 
The principle of being “ready to react” underpins the entire range, which includes active wear and leisure sportswear plus sports-inspired statement looks. The collec-tion sets new functional and trend-setting benchmarks thanks to innovative features and materials, including Dual Thermo-R technology, which responds to skin temper-ature, breathable evoKNIT material, used to create functional knitted zones, PUMA CELL technology plus unique Hybrid and Jamming cushioning systems. Technical details, cut-outs and dynamic patterns enhance the visual identity of the collection.

Urban individualists will identify the fusion style of ultra-lightweight and adaptive ma-terials combined with new, modern silhouettes. Featuring a narrow and slightly longer cut, the evoKNIT Pro parka is made of water-repellent performance fabric and can be worn as a modern statement piece. The engineered design and func-tionality of the RCT tee makes it a great match for the parka as well as an ideal part of an outfit for other activities: The Dri-Release™ cotton material with capillary ac-tion rapidly pushes moisture to the outside of the garment, dries extremely quickly and the built-in FreshGuard function keeps the wearer feeling fresh. The sweat shorts in innovative spacer fabric with contrasting zips also have the potential to become a summer favourite. The Speed Cat Jamming shoe is the highlight of this look: The unique, transparent mid-sole contains RAW NRGY beads that move freely with every step to deliver ultimate support and cushioning while looking spectacular.

For an informal and comfortable look, the clean, moisture-regulating men’s polo can be combined with the purist and versatile design of the lightweight jacket in two-way stretch material and comfortable sweat pants with technical details. The Classic cap and ergonomic Active backpack with smart interior compartments complete this sporty leisure look and are ideal accessories for an active lifestyle. When it’s time to pick up the pace, it’s easy to keep up with the Hybrid evoKNIT shoe: The Hybrid material plus the interplay between the IGNITE foam and NRGY beads in the midsole allow the shoe to respond to every step, providing energy return to dynamically propel the wearer forwards.

Whether you’re travelling, on a city break or just looking for a sporty outfit that re-flects a dynamic lifestyle, the water-repellent lightweight down jacket is the perfect option every time. This jacket keeps the wearer warm, but it can be worn around the shoulders using the integrated straps once temperatures start to rise. The wa-ter-repellent, elasticated woven pants are also ready for anything when it comes to spontaneous activities, as are the Speed Cat Lux trainers. This shoe unites one of PUMA’s most famous models, which has a long history in motorsport, with the technically inspired, exclusive look and feel of Porsche Design to create a trainer featuring a single-piece, virtually seamless upper. The “urban mobility” look is a style that makes an impression wherever you are.

If you need expressive design and high performance, seek out the Active evoKNIT midlayer. The top section in eye-catching blue offers the perfect fusion of highly functional sports jacket and exclusive knitted hoodie. The innovative material creates a unique, virtually seamless design with maximum freedom of movement and various functional ventilation zones. The dynamic Active evoKNIT tee is ideal for layering underneath. AP shorts, Hybrid running shoes, Fusion cap and the multifunctional gym bag complete this powerful performance knitwear style.

The expressive performance look makes you immediately appear like one of the favourites. The moisture-regulating Active tights with taped seams provide the ideal frictionless base for sports. Worn over the top, the Active shorts feature an expressive pattern that gives an impression of speed before the event has even started – once you’re in action, the shorts deliver on this promise thanks to the side stretch panels. The Active long-sleeve top in PUMA’s bold “Surf the web” tone is unmistakably performance-oriented, making it an essential item for ambitious runners. The breathable Hybrid running shoes and functional Active backpack are more subtle, which perhaps makes them even more impressive. The starting blocks await!

The new Porsche Design x PUMA collection will be available from March 1, 2019, in Porsche Design stores and online at www.porsche-design.com and at www.puma.com.

hezrogenaurach/Manchester, february 28, 2019
PUMA and city football group sign global long-term strategic partnership

Sports brand to equip Manchester City, one of the world’s leading clubs, plus an additional four City Football Group Clubs

Sports company PUMA and City Football Group have signed a global long-term partnership, which will see PUMA supply the reigning English Premier League champions Manchester City, as well as sister clubs in Australia, Spain, Uruguay and China.

Starting in July 2019, PUMA will be the official partner of Manchester City FC, Melbourne City FC, Girona FC, Club Atlético Torque and Sichuan Jiuniu FC, supplying all representative teams including men’s, women’s and youth football. 

“PUMA’s partnership with City Football Group is the largest deal that we have ever done - both in scope and ambition,” said Bjørn Gulden, CEO of PUMA. “We are very excited to partner with City Football Group, whose success, ambition and drive for innovation has seen them setting new standards, on and off the field. We look forward to building the most innovative partnership in football by redefining the sports partnership model both on and off the pitch. We want to maximise on-field performance as well as football culture, in areas such as music, gaming and fashion to connect and inspire the fanbase of each team.”

“This announcement marks the start of an exciting new chapter for City Football Group,” said Ferran Soriano, CEO of City Football Group. “Our relationship with PUMA, covering five City Football Group clubs across four continents, will reset the model for sports partnerships on a truly global scale whilst being locally relevant and authentic for fans around the world. PUMA share our vision for challenging expectations, and we are looking forward to what we believe will be a ground-breaking partnership.” 

This PUMA and City Football Group partnership is shaped by shared values of authenticity and innovation, and a genuine love for beautiful football. These values will drive the partnership to change the game beyond the pitch, pioneering new ways to push forward the clubs’ communities, teams, and football whilst also bringing fans together at both local and global levels. 

PUMA and Manchester City are already linked via several player partnerships, including Caroline Weir, Pauline Bremer and Nikita Parris in the Women’s Team in addition to men’s club captain Vincent Kompany, midfielder David Silva and striker Sergio Agüero, who famously scored in the last seconds of City’s final game of the 2011/2012 season to clinch the first of three league titles for the club in the modern era.

 

Media Kit below contains the Pres Release and Images:

1. Ferran Soriano (CEO City Football Group & Manchester City) & Bjørn Gulden
2. Delfi Geli (President - Girona FC) & Bjørn Gulden
3. Pauline Bremer (MCFC women’s player), Vincent Kompany (MCFC men’s captain) & Bjørn Gulden 
4. Pauline Bremer (MCFC women’s player) & Vincent Kompany (MCFC men’s captain)

 

Photo Credits (Cover Image): Photo by Manchester City FC/Man City via Getty Images 


herzogenaurach, germany - march 4, 2019
Puma se plans share split at a ratio of 1:10

PUMA SE plans share split at a ratio of 1:10 after preceding increase of the share capital from company funds 

The Supervisory Board and the Management Board of PUMA SE decided today to propose to the General Meeting on 18 April 2019 the resolution on a capital increase from company funds by EUR 112,213,532.16 to EUR 150,824,640.00 without the issuance of new shares (section 207(2)(2) Stock Corporation Act) as well as a subsequent amendment of the Articles of Association to re-divide the share capital at a ratio of 1 to 10 (share split).

Neither the capital increase from company funds nor the share split will result in any changes in the ownership structure of the shareholders in the Company. If the proposed resolutions are accepted by the General Meeting and the amendments to the Articles of Association is registered in the commercial register, each existing share will automatically be exchanged for 10 new shares. As a result of the increase in the number of shares of the Company by a factor of 10, their stock market price is expected to decrease accordingly. 

The agenda of the General Meeting 2019 including the resolution proposals of the Management Board and the Supervisory Board is expected to be published in the Federal Gazette on 11. March 2019.

Herzogenaurach, Germany - March 28, 2019
PUMA and First Mile to launch collection made from recycled plastic bottles

Recycled Polyester made by First Mile has a positive environmental and social impact

Sports company PUMA will launch a sustainable sportswear collection with First Mile, a company which supports low-income communities in Haiti, Honduras and Taiwan China by collecting plastic bottles to produce recycled polyester.

First Mile supports more than 4,000 people in its collection networks, recovering plastic bottles which would have otherwise continued to pollute the streets, canals and landfills of those communities. Using such bottles as a raw material source, First Mile produced more than 300 tons of recycled yarn in 2018. 

“Plastic pollution is one of the most pressing environmental problems the world faces today. That is why we are very excited to join First Mile and be a part of the solution while supporting low-income communities and transparency in supply chains,” said Adam Petrick, Global Director of Brand and Marketing for PUMA.

"We are thrilled to welcome PUMA to join a group of bold, innovative brands leading the way in responsible sourcing," said Kelsey Halling, Director of Partnerships at First Mile. "The PUMA x First Mile collaboration will positively impact lives by giving value to plastic waste."

The PUMA x First Mile collection, which will be in stores in 2020, will consist of shoes and apparel featuring utility pockets and outdoor elements. By buying the products, consumers support responsible sourcing and create a positive social and environmental impact around the world.

To address several environmental and social issues in its supply chain and make the whole company more sustainable, PUMA has set out several targets in its 10FOR20 campaign. It recently announced that its 2020 target for the use of sustainable Cotton was reached two years ahead of schedule.

The PUMA x First Mile collection will drop in Q1 and Q2 of 2020.

Download the Media Kit below to get the images and press release.

Picture Credits: First Mile
Herzogenaurach, Germany - April 4, 2019
PUMA to become Formula 1®’s exclusive retail partner at race weekends

Sports company PUMA has announced a long-term partnership with Formula 1® to become the exclusive merchandise retail partner from the start of the 2019 season. This year, PUMA stands and superstores will be present in 17 out of the 21 Grands Prix in the calendar.

Adding to the company’s impressive motorsport credentials, PUMA has gained the rights to design, produce and sell Formula 1-branded products trackside. Visitors to Formula 1 races across the globe will be able to purchase F1 and Grands Prix related products as well as all 10 teams’ merchandise from on-site PUMA stands and superstores during race weekends.  PUMA and its fully-owned subsidiary Branded will also retail official merchandise and accessories from Formula 1’s growing portfolio of consumer products licensees, such as Codemasters and BAPE. 

“PUMA has a long and proud history in motorsport, and we are very happy to take this a step further today. Our agreement with Formula 1 will allow us to connect with the fans directly at the races by offering them the best motorsport merchandise experience possible,” said PUMA CEO Bjørn Gulden. 

“We are always looking to enhance fans race day experience and to have such an experienced and creative partner such as PUMA on board to bring the latest items to our fans is something we are really excited about,” said Sean Bratches, Managing Director Commercial Operations, Formula 1®.

Branded, which already distributes PUMA replica merchandise and designs for leading F1 teams such as Scuderia Ferrari, Mercedes-AMG Petronas Motorsport, Aston Martin Red Bull Racing and Rich Energy Haas F1 Team, PUMA will now add F1 trackside retail to its offering. 

Since entering Formula 1 in 1999, PUMA has established itself as a leading motorsport supplier, providing team wear and race wear to the most successful Formula 1 teams as well as the motorsport divisions of BMW and Porsche in other racing series. 

Download the Press Release below.

Picture Credits: PUMA/ Conné
Herzogenaurach, Germany - April 10, 2019
PUMA BioEvolution shoe uniquely adapts to the body

Sports company PUMA today presented an experimental sports shoe as part of its BioEvolution project, which uses biologically active materials to uniquely adapt to the wearer’s foot.

The shoe, which is the first result of a collaboration with research organisation Fraunhofer Institute, will be presented at the “Materials Village” exhibition held by Material ConneXion Italia at Milano Design Week 2019. 

It features a biologically active layer of the shoe-upper that acts like a dense nanosensor net and at a microscopic level maps the areas of the foot which produce heat and sweat. This mapping then creates a matching ventilation pattern, or in other words, living micro-organisms selectively remove material to create a unique fit.

“The shoe is not unique by itself - it comes as a blank canvas. It evolves with you, when you start to wear it, and it becomes more and more an expression of your body,” said Charles Johnson, PUMA’s Global Director of Innovation. 

As PUMA’s BioEvolution technology is still at an experimental stage, no commercial version of the shoe is planned at present. PUMA has explored such materials and pioneered the use of biodesign in sportswear, following a research project with the MIT Design Lab which started in June 2017. The experimental outcomes of this collaboration were revealed for the first time at Milano Design Week last year.

The project has been conducted under the creative curation of Innovation by Design - a global, multidisciplinary design & strategy studio founded in 2014, as a MIT Design Lab spin-off.

For images and the Press Release download the Media Kit below.

All Picture Credits: Innovation by Design/ PUMA

 
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