PUMA SE: PUMA reports record Sales of more than € 2 billion in the second Quarter despite Geopolitical Tensions and Lockdown Measures


DGAP-Information: PUMA SE

/ Key phrase(s): Quarter Outcomes/Half 12 months Outcomes

PUMA SE: PUMA studies report Gross sales of greater than € 2 billion within the second Quarter regardless of Geopolitical Tensions and Lockdown Measures 27.07.2022 / 08:00 The issuer is solely accountable for the content material of this announcement. PRESS RELEASE Q2 2022


PUMA studies report Gross sales of greater than € 2 billion within the second Quarter

regardless of Geopolitical Tensions and Lockdown Measures


Herzogenaurach, July 27, 2022


2022 Second Quarter Info

Gross sales improve by 18.4% forex adjusted (ca) to € 2,002 million (+26.0% reported / Q2 2021: € 1,589 million)
Gross revenue margin decreases to 46.5% (Q2 2021: 47.5%)
Working bills (OPEX) improve by 21.6% to € 791 million, whereas OPEX ratio improves
Working end result (EBIT) improves by 34.4% to € 146 million (Q2 2021: € 109 million)
EBIT margin will increase by 40 foundation factors to 7.3% (Q2 2021: 6.9%)
Web earnings enhance by 73.2% to € 84 million (Q2 2021: € 49 million)
PUMA groups Manchester Metropolis and AC Milan win nationwide league titles
PUMA and AC Milan announce a long-term extension of their partnership
PUMA and Italian Lega Serie A unveil the brand new official ball for the 2022/23 season
PUMA releases 4 nationwide staff dwelling kits for the UEFA Ladies’s Championship
PUMA and Breanna “Stewie” Stewart unveil the Stewie 1, the primary girls’s signature basketball shoe in over a decade
PUMA and LaMelo Ball launch a particular version basketball shoe MB.01 Galaxy
PUMA and Neymar Jr. launch the Slipstream sneaker marketing campaign, bringing the ‘80s basketball silhouette into the fashionable age
PUMA introduces its buying app in India and kicks off Web3 collaborations with 10KTF and Roblox
PUMA is ranked most sustainable model on Enterprise of Style Sustainability Index 2022
Héloïse Temple-Boyer elected as Chair of the Supervisory Board of PUMA SE
2022 Half 12 months Info

Gross sales improve by 19.0% (ca) to € 3,914 million (+24.7% reported / H1 2021: € 3,138 million)
Gross revenue margin decreases to 46.8% (H1 2021: 48.0%)
Working bills (OPEX) improve by 20.2% to € 1,504 million (H1 2021: € 1,252 million)
Working end result (EBIT) improves by 30.1% to € 342 million (H1 2021: € 263 million)
EBIT margin will increase by 30 foundation factors to eight.7% (H1 2021: 8.4%)
Web earnings enhance by 30.3% to € 206 million (H1 2021: € 158 million)
Bjørn Gulden, Chief Government Officer of PUMA SE:

“The second quarter was one other nice quarter for us. With a currency-adjusted development of 18% (26% reported) to € 2,002 million, we exceeded € 2 billion in quarterly gross sales for the primary time in PUMA’s historical past. This underlines the robust demand for our merchandise regardless of all the worldwide obstacles and uncertainties!

I’m particularly proud that we’ve once more seen very robust development in all our efficiency classes like Operating, Coaching, Teamsports, Golf and Basketball. We really feel that the elevated investments into R&D, Innovation and Product Improvement over the previous years are beginning to repay.

Our Gross Margin is presently in fact below strain and declined by 100 foundation factors to 46.5%, primarily resulting from an unfavorable geographical and channel combine in addition to the upper freight charges. Regardless of rising prices, we are going to proceed to give attention to retaining our costs aggressive and can prioritize gross sales development and market share beneficial properties above short-term profitability.

As a consequence of our robust gross sales development we managed to extend our EBIT by 34% from € 109 million in Q2 2021 to € 146 million in Q2 2022 regardless of elevated investments into advertising and gross sales and better warehousing prices.

We do see an elevated degree of uncertainty around the globe: COVID-19 continues to be round us, the disaster in Ukraine is worse than ever and there may be excessive inflationary strain in nearly all our markets.

Regardless of all these uncertainties we are going to proceed to speculate into our folks, model and infrastructure. We may also proceed with our “Folks First” angle and do every thing we will to make sure the well being and security of all our folks, particularly in Ukraine. The PUMA Household means greater than short-term profitability.

I stay optimistic for our sector usually and the PUMA model particularly and we even increase our income outlook for the complete 12 months 2022.”


Second Quarter 2022


Gross sales elevated by 18.4% (ca) to € 2,002.0 million (+26.0% reported), representing the very best quarterly gross sales in PUMA’s historical past. A continued excessive demand for the PUMA model within the Americas area resulted in a powerful gross sales development of 25.6% (ca). Gross sales in EMEA have been up 21.5% (ca), pushed by robust development throughout all key markets in Europe. Gross sales in Asia/Pacific declined 1.8% (ca) resulting from COVID-19 associated lockdown measures in Larger China, whereas different main markets in Asia/Pacific recorded robust development. All product divisions grew double-digit with Footwear being up 19.7% (ca), Attire up 20.2% (ca) and Equipment up 11.2% (ca). According to earlier quarters, development was pushed by continued robust demand for our Efficiency classes like Operating & Coaching, Teamsports, Golf and Basketball, in addition to for the Sportstyle class.


PUMA’s Wholesale enterprise elevated by 22.6% (ca) to € 1,563.2 million and the Direct-to-Client (DTC) enterprise was up by 5.5% (ca) to € 438.8 million. Gross sales in owned & operated retail shops elevated 11.3% (ca), whereas e-commerce declined 4.1% (ca), primarily resulting from lockdown measures in Larger China. We continued to execute our technique of being one of the best companion for our retailers and continued to prioritize them over DTC.


The gross revenue margin decreased by 100 foundation factors to 46.5%, primarily brought on by an unfavorable geographical and channel combine in addition to larger freight charges, whereas currencies had a optimistic impact.


Working bills (OPEX) elevated by 21.6% to € 791.2 million because of larger advertising bills, extra retail shops working in addition to larger sales-related distribution and warehousing prices. Regardless of ongoing working inefficiencies resulting from COVID-19, particularly within the provide chain, the OPEX ratio decreased to 39.5% (Q2 2021: 40.9%) resulting from larger gross sales development and continued OPEX management.


The working end result (EBIT) elevated by 34.4% to € 146.3 million (Q2 2021: € 108.9 million). Robust gross sales development and an improved OPEX ratio resulted in an EBIT margin improve by 40 foundation factors to 7.3% (Q2 2021: 6.9%).


Web earnings elevated by 73.2% from € 48.7 million to € 84.3 million and earnings per share have been up from € 0.33 within the second Quarter of 2021 to € 0.56 within the second Quarter of 2022.


First Half 12 months 2022


Gross sales elevated by 19.0% (ca) to € 3,914.1 million (+24.7% reported).Americas led the expansion with a 33.6% (ca) improve in gross sales, adopted by the EMEA area, with all key markets in Europe contributing robust development to a 23.5% (ca) improve in gross sales. Gross sales within the Asia/Pacific area have been down 10.4% (ca) resulting from geopolitical tensions and COVID-19 associated lockdown measures in Larger China, whereas different main markets in Asia/Pacific recorded robust development. All product divisions grew double-digit, with Footwear being up 18.9% (ca), Attire up 18.1% (ca) and Equipment up 20.9% (ca).


The Wholesale enterprise was up 22.9% (ca) to € 3,091.4 million and the Direct-to-Client (DTC) enterprise elevated by 6.2% (ca) to € 822.8 million. Gross sales in owned & operated retail shops elevated 15.8% (ca), whereas e-commerce declined 8.6% (ca). E-commerce was impacted by our continued prioritization of retail companions and the lockdown measures in Larger China.


The gross revenue margin decreased by 120 foundation factors to 46.8% (H1 2021: 48.0%). The decline was primarily brought on by an unfavorable geographical and channel combine in addition to larger freight charges, partially offset by currencies.


Working bills (OPEX) elevated by 20.2% to € 1,504.1 million (H1 2021: € 1,251.5 million). Larger advertising bills, extra retail shops working, larger sales-related distribution and warehousing prices, in addition to working inefficiencies resulting from COVID-19 contributed to this improve. Nonetheless, the respective OPEX ratio decreased from 39.9% within the first half of 2021 to 38.4% within the first half of 2022 resulting from larger gross sales development and continued OPEX management.


The working end result (EBIT) elevated by 30.1% to € 342.4 million (H1 2021: € 263.2 million) resulting from a powerful gross sales development and an improved OPEX ratio. The EBIT margin improved by 30 foundation factors to eight.7% (H1 2021: 8.4%).


Web earnings elevated by 30.3% from € 157.8 million to € 205.6 million and correspondingly earnings per share have been up from € 1.06 within the first half of 2021 to € 1.37 within the first half of 2022.


Working Capital


The working capital elevated by 54.3% to € 1,067.4 million (June 30, 2021: € 691.9 million). Inventories have been up by 42.9% to € 1,984.4 million (June 30, 2021: € 1,388.7 million),  which continued to be impacted by larger Items in Transit. Commerce receivables elevated by 27.8% to € 1,189.8 million (June 30, 2021: € 931.1 million) primarily because of robust gross sales development. On the liabilities facet, commerce payables elevated by 30.4% to € 1,657.1 million(June 30, 2021: € 1,270.6 million).



Money Move and Liquidity State of affairs


The free money move improved by 57.1% to € 38.6 million within the first half of 2022 (H1 2021:€ 24.6 million). As of June 30, 2022, PUMA had money and money equivalents of € 498.4 million, a lower of 34.0% in comparison with the primary half of 2021 (June 30, 2021: € 755.2 million). As well as, the PUMA Group had credit score strains totaling € 1,276.9 million as of June 30, 2022(June 30, 2021: € 1,424.1 million). Unutilized credit score strains amounted to € 923.6 million on the stability sheet date in comparison with € 933.7 million within the first half of 2021.



Model & Technique Replace


With the continued COVID-19 pandemic and the disaster in Ukraine, the primary half of 2022 offered PUMA with a number of challenges that required us to stay versatile and discover pragmatic options to proceed to implement our technique whereas taking good care of the PUMA Household.


The wellbeing of our workers, athletes and companions in Ukraine was our quick precedence from the beginning of the disaster. We instantly secured protected lodging within the west of Ukraine and arrange further housing choices for our Ukrainian colleagues and their members of the family in Germany and Poland. We made certain that our colleagues who needed to depart their dwelling nation acquired work permits and jobs of their new residences.


The disaster confirmed how we got here collectively as a PUMA Household. We have been impressed by our PUMAs who waited on the borders to welcome different PUMA workers and ambassadors who had fled Ukraine, in addition to by our colleagues who drove to Ukraine to deliver requirements corresponding to meals and garments to their colleagues who had stayed within the nation.


At our headquarters in Herzogenaurach, we gathered product donations for help organizations in Ukraine, to get assist to those that wanted it most. A number of pallets of merchandise additionally departed to Ukraine from our distribution middle in Geiselwind.


For our efforts to offer a lovely office, PUMA was named a Prime Employer 2022 in a number of areas of the world, together with Europe and Asia/Pacific.


Whereas the COVID-19 pandemic eased in Europe and the Americas within the first half of the 12 months and we noticed no additional widespread retailer closures there, the state of affairs in components of Asia, particularly in China, was nonetheless difficult for our retailer community and our provide chain. Our sourcing groups did an distinctive job to guarantee that provide chain disruptions have been saved to a minimal.


In 2022, we continued to implement our eight strategic priorities: model warmth, product ranges which can be proper for our customers, a complete supply for girls, bettering the standard of our distribution, rising the pace and effectivity of our organizational infrastructure, leveraging our re-entry into basketball to enhance our place in North America and to give attention to native relevance and sustainability.


The performances of our monitor and discipline athletes on the World Indoor Championships in Belgrade, Serbia, and the World Athletic Championships in Eugene, Oregon, USA, underscored our credibility as a sports activities model and created model warmth. PUMA loved nice visibility by equipping a number of federations and world-class athletes, consistent with the corporate’s philosophy to offer the quickest athletes with the quickest merchandise.


Among the many highlights: In Belgrade, Ukrainian PUMA athlete Yaroslava Mahuchikh gained gold within the excessive leap and created a really particular second on the occasion, as she gained regardless of the disaster in her dwelling nation and the troublesome three-day journey she needed to make to get from Ukraine to Serbia.


In Eugene, Jamaican sprinter Shericka Jackson ran the second-fastest 200m time in historical past and in triple leap, Portuguese athlete Pedro Pichardo additionally gained the gold with the efficiency of the 12 months. Swedish pole vaulter Armand “Mondo” Duplantis added one other centimeter to his world report efficiency and gained the gold medal with a leap of 6.21 meters.


Our PUMA household continued to develop within the first half. In monitor and discipline, we signed a multi-year contract with the Brazilian Confederation of Athletics (CBAt).


However these weren’t the one performances that boosted our model warmth: in Soccer, our PUMA groups AC Milan and Manchester Metropolis each gained the title and Olympique de Marseille and Borussia Dortmund got here in second of their respective leagues. PSV Eindhoven gained the Dutch Cup.


On the finish of the season, we secured a long-term extension to our partnership with AC Milan and have become the official naming companion of the membership’s coaching middle for future skills, which can be referred to as the “PUMA Home of Soccer.”


We additionally expanded our attain in Soccer, as we grew to become the official match ball supplier of the Italian soccer league Serie A, ranging from the 2022/23 season.


In North America, PUMA basketball athlete Marcus Good was named NBA Defensive Participant of the 12 months, whereas PUMA ambassador and ice hockey participant Leon Draisaitl set an NHL report for many assists in a single playoff sequence. In Golf, Cobra PUMA Golf athlete Ewen Ferguson secured his first victory on the DP WORLD TOUR by profitable the Industrial Financial institution Qatar Masters.


In Motorsport, we welcomed the British Mercedes AMG Petronas F1 driver George Russell and the Alfa Romeo F1 Staff ORLEN, together with Finnish veteran Valtteri Bottas and Chinese language rookie Zhou Guanyu.


As we continued to outfit probably the most profitable groups in Formulation 1, Scuderia Ferrari, Pink Bull Racing and Mercedes, we additionally benefited from the rising recognition of the game, particularly in the USA, the place the inaugural Miami Grand Prix was fully offered out in report time.


By our new partnership with the five-time World Chess Champion Magnus Carlsen and Meltwater Champions Chess Tour, PUMA related the world of chess with the world of sport to create partaking content material and activations for chess followers around the globe.


We engaged with our customers within the digital world, by asserting our largest collaboration within the Web3 area up to now with 10KTF, an NFT challenge the place customers should buy digital outfits. We additionally labored with Surprise Works Studio to create “PUMA and the Land of Video games” on the web gaming platform Roblox and gave gamers the chance to decorate their digital characters in PUMA gear.


PUMA additional strengthened its distribution by getting into new markets with the PUMA.com on-line retailer in Saudi Arabia and the Philippines. To spotlight one of the best of the PUMA model and be near our most loyal customers, PUMA launched a buying app for smartphones on the Indian market, which permits customers to just about strive on chosen merchandise earlier than they purchase, see what the merchandise seem like in refined 3D animations and buy PUMA merchandise in an environment friendly and fast take a look at course of. The app can be progressively rolled out to different markets.


As we’ve an enormous archive at our disposal, our designers can take inspiration from greater than 70 years of historical past to create trend ahead and related merchandise for our prospects. With the Slipstream, which was launched by our Ambassadors Neymar Jr, Danna Paola and Romeo Beckham in June, PUMA introduced again the traditional design from the Eighties to make a clear and trendy sneaker. A set with Australian skate label Butter Items additionally used archive-inspired types and featured attire with retro-inspired designs and prints.


Along with French trend model AMI, we designed an unique assortment that mixed tailoring and revolutionary sportswear design with minimalistic branding. We elevated our Motorsport providing with our companion Ferrari to create the premium ION F sneaker and we celebrated the fiftieth anniversary of the Porsche 911 RS 2.7 automotive with a restricted version of our traditional SUEDE, which was offered out in hours.


New additions to our girls’s providing included the Kosmo Rider, an growth of the Rider franchise in daring colours and a chunky form, which was promoted by social-media star and music artist Dixie D’Amelio. PUMA additionally offered a spread of leak-free interval underwear and activewear with Australian attire firm Modibodi, which was created to assist girls keep snug and lively throughout their interval.


In basketball, we added new types to LaMelo Ball’s signature assortment MB.01, such because the MB.01 Galaxy and a particular version on the animated sequence “Rick and Morty”, which grew to become certainly one of our most sought-after sneakers of 2022. We additionally welcomed the No. 2 total decide from the 2022 WNBA draft NaLyssa Smith to our roster of PUMA Hoops athletes.


As native relevance continues to be an essential a part of our technique to achieve audiences in several components of the world, we signed pop stars Eleni Foureira from Greece and Teodora from Serbia as model ambassadors.


We entered a brand new class with the launch of a PUMA padel assortment, together with rackets, footwear, attire and equipment, and signed padel gamers Jerónimo ‘Momo’ González, Victoria Iglesias, Marco Cassetta, and Xènia Clascà. We additionally continued to extend the variety of regionally developed merchandise for the totally different areas, particularly within the Sportstyle class.


Within the first half of 2022, we made progress with our Perpetually Higher sustainability technique, particularly with regards to circularity. Our RE:SUEDE challenge, which assessments whether or not we will make a biodegradable model of our iconic SUEDE sneaker, entered an essential part, as we distributed 500 pairs to contributors in Germany and model ambassadors corresponding to Cara Delevingne, Raphaël Varane and Kyle Kuzma. After sporting them for half a 12 months, our testers will return the sneakers to PUMA so we will see whether or not the RE:SUEDEs may be biodegraded in a managed industrial setting.


We additionally launched the RE:JERSEY recycling challenge with our soccer groups Manchester Metropolis, AC Milan, Borussia Dortmund, Olympique de Marseille and Girona. On this challenge, we use present soccer jerseys to provide new ones, in a chemical recycling course of the place we will even take previous clothes that characteristic logos, embroideries and membership badges to create polyester yarn for brand spanking new jerseys. Different extra sustainable merchandise included a vegan model of our traditional KING soccer boot, the KING Platinum 21 Vegan.


In Might, we introduced that we had lower our personal carbon emissions and people coming from our provide chain between 2017 and 2021, although the enterprise grew strongly in the identical interval. We’re on monitor to scale back emissions by what scientists say is critical to keep away from the worst penalties of local weather change.


A part of our technique to scale back carbon emissions is to modify to electrical automobiles. At our warehouse in Torrance, California, USA, for instance, we began transferring items from the port of Los Angeles with a totally electrical truck.


For our sustainability efforts, we have been ranked as probably the most sustainable model within the business in keeping with publication Enterprise of Style, which evaluated the 30 largest firms within the trend enterprise.


When it comes to group, the Supervisory Board of PUMA SE has elected Héloïse Temple-Boyer as Chair of the Supervisory Board at its assembly in April. Héloïse Temple-Boyer has been a member of the Board since 2019 and is a member of the Audit Committee.



Outlook 2022


PUMA carried out very effectively within the first half of the 12 months 2022. Based mostly on continued model momentum, profitable product launches with robust sell-through and the very best service to our retail companions and customers, we delivered robust gross sales and EBIT development.


Whereas the primary half of the 12 months has been robust, we proceed to face rising geopolitical and macroeconomic uncertainties and challenges. The continued COVID-19-related restrictions, notably in Asian markets, the disaster in Ukraine and persistently excessive inflation are negatively impacting client confidence and demand. As well as, ongoing provide chain constraints and value will increase in sourcing and freight are limiting product availability and placing strain on margins.


Contemplating the robust first half of the 12 months, PUMA is elevating its outlook from beforehand at the very least ten % currency-adjusted gross sales development – with upside potential – to mid-teens currency-adjusted gross sales development. As a result of elevated uncertainties, we reiterate our working end result (EBIT) to be in a spread of € 600 million to € 700 million for the monetary 12 months 2022 (2021: € 557 million) and a corresponding enchancment in web earnings. The event of our gross revenue margin and OPEX-ratio will proceed to rely largely on the extent and length of the detrimental impacts described above. We anticipate inflationary pressures from larger freight charges and uncooked materials costs, in addition to operational inefficiencies resulting from COVID-19 and the Ukraine disaster, to dilute our profitability in 2022.


As in earlier years, PUMA will proceed to give attention to managing the short-term challenges with out hindering the mid-term momentum and can prioritize gross sales development and market share beneficial properties over short-term profitability. The robust and worthwhile development within the first half of the 12 months, a powerful orderbook, an thrilling product line-up in addition to superb suggestions from retailers and customers make us assured for the mid-term success and development of PUMA.


Monetary Calendar:


October 26, 2022 Quarterly Assertion Q3 2022


The monetary releases and different monetary info can be found on the Web at “about.puma.com“.



Media Relations:


Robert Bartunek – Teamhead Company Communications – PUMA SE – +49 9132 813134 -robert.bartunek@puma.com



Investor Relations:


Gottfried Hoppe – Head of Investor Relations & Finance Technique – PUMA SE – +49 9132 81 3157 –




Notes to the editors:

The monetary studies are posted on about.puma.com
PUMA SE inventory image:
Reuters: PUMG.DE, Bloomberg: PUM GY,

Börse Frankfurt: ISIN: DE0006969603– WKN: 696960



Notes regarding forward-looking statements:

This doc incorporates forward-looking statements in regards to the Firm’s future monetary standing and strategic initiatives. The forward-looking statements are based mostly on the present expectations and assumptions of the administration staff. These are topic to a sure degree of threat and uncertainty together with, however not restricted to these described above or in different disclosures, particularly within the chapter Danger and Alternative Administration within the Group Administration Report. Within the occasion that the expectations and the assumptions don’t materialize or unexpected dangers come up, the Firm’s precise outcomes can differ considerably from expectations. Subsequently, we can not assume accountability for the correctness of those statements.




PUMA is among the world’s main sports activities manufacturers, designing, creating, promoting and advertising footwear, attire and equipment. For greater than 70 years, PUMA has relentlessly pushed sport and tradition ahead by creating quick merchandise for the world’s quickest athletes. PUMA provides efficiency and sport-inspired life-style merchandise in classes corresponding to Soccer, Operating and Coaching, Basketball, Golf, and Motorsports. It collaborates with famend designers and types to deliver sport influences into avenue tradition and trend. The PUMA Group owns the manufacturers PUMA, Cobra Golf and stichd. The corporate distributes its merchandise in additional than 120 international locations, employs about 16,000 folks worldwide, and is headquartered in Herzogenaurach/Germany. For extra info, please go to https://about.puma.com.

27.07.2022 Dissemination of a Company Information, transmitted by DGAP – a service of EQS Group AG.The issuer is solely accountable for the content material of this announcement.The DGAP Distribution Companies embody Regulatory Bulletins, Monetary/Company Information and Press Releases.Archive at www.dgap.de

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