The Business Times

Puma confirms operating profit, sales outlook after Q3 results

Published Wed, Oct 26, 2022 · 04:12 PM

GERMAN sportswear maker Puma reiterated its full-year operating result and currency-adjusted sales outlook on Wednesday (Oct 26), despite uncertainty on the global market, after what it said was its best third quarter in the company’s history.

The company said its earnings before interest and taxes (Ebit) rose by 12.6 per cent on the year to 258 million euros (S$364.5 million) while third-quarter sales rose a currency-adjusted 16.9 per cent to 2.35 billion euros (US$2.34 billion).

Despite continued effects of Covid-19-related lockdown measures in China, Puma saw sales growth in the Asia/Pacific region for the first time this year in the third quarter, it said.

“Improved product availability due to a more stable supply chain, better than expected sell-through and Puma’s continued global brand momentum overcompensated all the negative external factors,” said Gulden.

“We expect continued volatility in the market during the fourth quarter but are confident that we can deliver according to our full-year outlook,” he added.

The company expects currency-adjusted sales growth of around 15 per cent and an Ebit between 600 and 700 million euros for 2022. REUTERS

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