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Puma’s Q4 sales increases 20.1 per cent

Puma's sales increased by 20.1 per cent currency adjusted to € 1,226.4 million, 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 per cent and 17.4 per cent respectively. For footwear, it was the 18th consecutive quarter of sales growth.

The gross profit margin in Q4 remained stable at a high 47.1 per cent, despite negative currency impacts in the quarter. Operating expenses (OPEX) increased by 17.1 per cent 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. The operating result (EBIT) improved by 26.1 per cent 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.

 

 
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