April 13, 2024

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Puma is more optimistic for the whole year – dpa

herziehaurach (dpa) – sporting goods manufacturer Puma is raising its targets for 2021 after a successful second quarter. Management now expects currency-adjusted sales to grow at least 20 percent, Puma announced Friday in Herzogenaurach, Franconia.

So far, excluding currency effects, the group has promised sales growth in the mid-ten percent range.

The company now aims to have a value of between 400 million and 500 million euros for the full-year operating result. Here Puma has only given qualitative expectations and aims for significant improvement. Management continues to assume that the consolidated score will improve significantly. The forecast is subject to the condition that production in Vietnam or China, for example, be maintained, and there will be no long-term interruptions due to the epidemic.

In the second quarter, according to preliminary calculations, rival Adidas was able to nearly double its sales to nearly 1.6 billion euros compared to the same period last year thanks to strong demand, especially in North America. In addition, the group identified “continuous brand dynamism” and product launch as reasons. Earnings before interest and taxes amounted to approximately 109 million euros. Here Puma had to accept a loss of 115 million euros in the second quarter of 2020. At that time, the global sports and fashion business collapsed 85 percent due to the pandemic, according to the company.

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