The Supervisory Board of PUMA SE today decided that Arthur Hoeld will become member and Chairman (CEO) of the Management Board of PUMA SE, effective July 1, 2025.
Arne Freundt, CEO of PUMA SE, is leaving the company after 14 years in various leading positions. In agreement with the Supervisory Board, he will resign as member of the Management Board and CEO on April 11, 2025.
Disclosure of inside information according to Article 17 Market Abuse Regulation
PUMA SE (ISIN: DE00069696303 WKN: 696960)
PUMA WAY 1, D-91074 Herzogenaurach
Sports company PUMA announces its outlook for the financial year 2025.
PUMA anticipates ongoing geopolitical tensions and economic challenges in 2025, especially trade disputes and currency volatility. Against this backdrop, PUMA expects currency adjusted sales to grow in the low- to mid-single-digit percentage range.
Due to its nextlevel cost efficiency programme, PUMA expects to incur one-time costs of up to € 75 million in 2025. In return, the company expects to generate additional EBIT of up to € 100 million in 2025 compared to 2024. The net contribution from the nextlevel cost efficiency programme to EBIT in 2025 is projected to be up to € 25 million.
In order to provide a reliable outlook for the underlying performance of the business, the company provides an adjusted EBIT outlook for 2025, excluding one-time costs. PUMA expects an adjusted EBIT in the range of € 520 million to € 600 million for the financial year 2025. Including one-time costs of up to € 75 million from the nextlevel programme, EBIT in 2025 is expected to range between € 445 million and € 525 million (2024: € 622 million).
For Q1, PUMA anticipates currency-adjusted sales growth to be low-single-digit below last year’s level, primarily due to a soft performance in the U.S. and China. Due to inventory valuation effects in the previous year, a higher OPEX run rate and a different phasing of marketing expenses, adjusted EBIT is projected to be around € 70 million. Including one-time costs, Q1 EBIT is expected to be significantly below previous year’s level (Q1 2024: € 159.0 million).
For the financial year 2024, with a net income of € 281.6 million and considering the executed share buyback of € 50 million, the Management Board and the Supervisory Board of PUMA SE will propose a dividend distribution of € 0.61 at the Annual General Meeting on 21 May 2025.
Media Relations:
Kerstin Neuber – Senior Director Corp Comms – PUMA SE – kerstin.neuber@puma.com
Investor Relations:
Gottfried Hoppe – Director Investor Relations – PUMA SE – gottfried.hoppe@puma.com
Upcoming Events
12 March 2025 Financial Results FY 2024
08 May 2025 Quarterly Statement Q1 2025
21 May 2025 Annual General Meeting
31 July 2025 Interim Report Q2 2025
30 October 2025 Quarterly Statement Q3 2025
Notes to the editors:
Reuters: PUMG.DE, Bloomberg: PUM GY,
Börse Frankfurt: ISIN: DE0006969603– WKN: 696960
Disclosure of inside information according to Article 17 Market Abuse Regulation
Sports company PUMA announced today preliminary 2024 results, reporting a currency adjusted (ca) sales growth of 9.8% to € 2,289 million (+15.5% reported) in the fourth quarter of 2024. On a full-year basis, sales grew by 4.4% (ca) to € 8,817 million (+2.5% reported) and in line with the outlook.
The full-year 2024 operating result (EBIT) came in at € 622 million, which is at last year’s level (2023: € 622 million) and in line with the EBIT outlook for the full year 2024. The full-year 2024 EBIT margin was 7.1%. Net income came in at € 282 million, which is below prior year’s level (2023: € 305 million) and expectations. This was mainly caused by higher net interest expenses and higher non-controlling interests.
In the fourth quarter, both the operating result (EBIT) of € 109 million (Q4 2023 EBIT: € 94 million) and the net income of € 24 million (Q4 2023 net income: € 1 million) came in significantly above last year’s levels, but below expectations.
PUMA initiates the cost efficiency programme “nextlevel” with the objective to achieve an EBIT margin of 8.5% by 2027.
The financial results are preliminary and unaudited. PUMA SE will publish its results for the financial year 2024 and outlook 2025 on 12 March 2025.
Media Relations:
Kerstin Neuber – Senior Director Corp Comms – PUMA SE – kerstin.neuber@puma.com
Investor Relations:
Gottfried Hoppe – Director Investor Relations – PUMA SE – gottfried.hoppe@puma.com
Upcoming Events
12 March 2025 Financial Results FY 2024
08 May 2025 Quarterly Statement Q1 2025
21 May 2025 Annual General Meeting
31 July 2025 Interim Report Q2 2025
30 October 2025 Quarterly Statement Q3 2025
Notes to the editors:
Reuters: PUMG.DE, Bloomberg: PUM GY,
Börse Frankfurt: ISIN: DE0006969603– WKN: 696960
Disclosure of inside information according to Article 17 Market Abuse Regulation
PUMA SE (ISIN: DE00069696303 WKN: 696960)
PUMA WAY 1, D-91074 Herzogenaurach
Herzogenaurach, 29 February 2024 – PUMA plans to return up to 50% of the Group’s net income to shareholders through its dividend policy and share buybacks. PUMA's strong balance sheet at the end of 2023 and its strategy to achieve sustainable and profitable growth will result in robust cumulative free cash flow generation over the next few years, providing the organic foundation for increased payout to shareholders.
Today, the Management Board of PUMA SE has decided to change the dividend policy to a payout ratio of 25% - 40% of the Group’s net income (previous payout ratio 25% - 35%). In addition, the Management Board of PUMA SE has decided to initiate a share buyback program, which will complement the dividend policy by another 10% - 25% to a total payout of up to 50% of the Group’s net income.
The first tranche provides for the buyback of own shares with a total purchase price of up to € 100 million and starts in March 2024 for a period ending on 6 May 2025. In accordance with the authorisation granted by the Annual General Meeting 2020, the repurchased shares will subsequently be cancelled.
The share buyback shall be executed through the stock exchange and in accordance with the authorisation of the Company’s Annual General Meeting 2020 on 7 May 2020, and in line with the safe harbour requirements of buyback programs set forth by Regulation (EU) No. 596/2014 (Market Abuse Regulation) and Commission Delegated Regulation (EU) No. 2016/1052 of 8 March 2016 (Delegate Regulation).
The share buyback will be carried out by an independent financial service provider, which will make its trading decisions regarding the exact timing of the share purchases independently of and without any influence by the Company. The financial service provider is obliged to comply with the trading conditions of Art. 3 of the Delegated Regulation and the provisions contained in this share buyback program.
PUMA reserves the right to suspend or terminate the share buyback program at any time.
Information on the transactions relating to the share buyback program will be published according to Art. 2 of the Delegated Regulation and will be made available on the Company's website under https://about.puma.com/en/investor-relations.
Disclosure of inside information according to Article 17 Market Abuse Regulation
PUMA SE (ISIN: DE00069696303 WKN: 696960)
PUMA WAY 1, D-91074 Herzogenaurach
Financial performance 2023 impacted by extraordinary Argentine peso devaluation
Following the extraordinary devaluation of the Argentine peso by 54% in December 2023 and the application of hyperinflationary accounting*, PUMA achieved full-year currency-adjusted sales growth of around 6.6% and 1.6% reported, with preliminary 2023 sales of approx. € 8,602 million (outlook: high single-digit currency-adjusted growth). The operating result (EBIT) amounted to approx. € 622 million (outlook: € 590 to 670 million). Sales were therefore broadly in line with the outlook and EBIT, despite the significant devaluation, was fully in line with the outlook. The devaluation mainly affected the financial result. Consequently, net income was approx. € 305 million (outlook: change corresponding to EBIT).
Excluding the extraordinary devaluation of the Argentine peso, PUMA delivered currency-adjusted sales growth above 8% and an EBIT above last year (2022: € 641 million).
Although PUMA achieved an underlying operating sales growth, the application of hyperinflationary accounting led to a sales decline in the fourth quarter. On a currency-adjusted basis sales declined by around 4.0% (reported sales declined by around 9.8%) to approx. € 1,982 million (Q4 2022: € 2,197 million). EBIT came in strongly at
approx. € 94 million (Q4 2022: € 41 million). The devaluation of the Argentine peso especially impacted the fourth quarter financial result, resulting in a net income of approx. € 0.8 million (Q4 2022: € 1.4 million).
Both sales and net income are below the analysts’ consensus. However, the consensus does not take negative effects from the extraordinary devaluation of the Argentine peso into account.
Supported by PUMA's continued brand momentum and despite continued global geopolitical and macroeconomic headwinds, PUMA expects a mid-single-digit currency-adjusted sales growth and an EBIT in the range of € 620 million to € 700 million (2023: approx. € 622 million) in the financial year 2024. The outlook assumes that the future devaluation of the Argentine peso will be fully compensated by corresponding price increases in Argentina.
* Hyperinflation accounting requires according to IAS 29 an adjustment for inflation and the currency translation with the year-end currency rate instead of using the average currency rate of the full-year and the impact needs to be fully recognized in the respective quarter.
AD HOC RELEASE PURSUANT TO § 15 WpHG
PUMA AG Rudolf Dassler Sport (ISIN: DE00069696303 WKN: 696960)
PUMA WAY 1, D-91074 Herzogenaurach
PUMA AG’s Management Board announces that irregularities, discovered at its Joint Venture ‘PUMA Hellas S.A.’ in Greece, will affect PUMA’s consolidated financial statements.
PUMA AG has initiated a comprehensive special audit by an independent auditing firm, appointed a new local management in Greece and put a halt to further irregularities. According to the preliminary findings of the audit, it is suspected that the Greek joint venture partner, along with members of the Greek local management, has committed a series of criminal acts.
As most of the irregularities have occurred prior to the fiscal year 2010, PUMA will have to restate its prior-year financial statements in line with IAS 8, i.e. adjust the 2009 comparative figures in the 2010 financial report. In total, the maximum extraordinary write-off effect should not exceed pre-tax 115 million Euros and does not affect the cash position. An estimated amount of up to 15 million Euros should affect fiscal year 2010 with the remainder applying to previous years.
Due to these irregularities and the general market situation in Greece, the company is further planning a restructuring in Greece that could lead to additional one-time charges of approximately 15 million Euros in the fourth quarter. As a consequence, it is likely that one-time charges of up to 30 million Euros will be booked in the fourth quarter of fiscal year 2010. A note to financial statements will be included in the third quarter results to be released on 26 October 2010.
PUMA AG’s Management and Supervisory Board have resolved to assert all claims according to civil and criminal law against the Greek Joint Venture minority partner and members of the local Greek management.
Ad-hoc Release pursuant to Section 15 WpHG
PUMA SE (ISIN: DE00069696303 WKN: 696960)
PUMA WAY 1, D-91074 Herzogenaurach
PUMA SE announces that the chairman of the Administrative Board Jochen Zeitz today has announced his resignation from office as member and chairman of the Administrative Board with effect as of 30 November 2012 by letter to the deputy chairman of the Administrative Board François-Henri Pinault.
Jochen Zeitz remains member of the Board of Directors of PPR SA, the main shareholder of PUMA SE and also chairs the Sustainability Committee of PPR SA.
The Administrative Board of PUMA SE will elect a new chairman with effect as of 1 December 2012 in its regular meeting on 23 October 2012.
Photo Credits: Robert Ashcroft/ PUMA
In the first quarter 2017, consolidated sales increased currency adjusted by approx. 15% (approx. 18% in reported terms) to € 1,005 million compared to € 852 million in the first quarter last year. The operating result (EBIT) in the first quarter 2017 increased by approx. 70% to approx. € 70 million (Q1 2016: € 41.3 million).
In light of the strong first-quarter increase in sales and profitability as well as the positive business outlook for the current year 2017, PUMA raises the full-year guidance for its consolidated sales and operating result (EBIT). The Management now expects that sales will increase currency adjusted at a low double-digit percentage rate (previous guidance: currency adjusted increase at a high single-digit percentage rate). The operating result (EBIT) is now anticipated to come in between € 185 million and € 200 million (previous guidance: between € 170 million and € 190 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 first quarter 2017 will be published on April 25, 2017.
Photo Credits: Robert Ashcroft/ PUMA
