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Q1 sales fall marginally at Puma
14
May '13
PUMA reported results for the first quarter of 2013.

2013 First Quarter Facts
- Consolidated sales fall by 2.3% currency adjusted to € 782 million
-  EPS reduced from € 4.92 to € 3.36
- Transformation and Cost Reduction Program on track
- New Chief Executive Officer Björn Gulden appointed
- PUMA partner Borussia Dortmund reaches Champions League final

Michael Laemmermann, Chief Financial Officer of PUMA SE: "In the current challenging business climate, especially in Europe and in Asia, we are continuing to implement our Transformation and Cost Reduction Program aimed at improving efficiencies and our cost base.

"This will increase PUMA's profitability in the long-term. Confirming our increased focus on Performance, PUMA's visibility and credibility as a premium football brand have been further enhanced with Borussia Dortmund's progress to the Champions League final."

Sales Performance by Region

Business climate in Europe remains challenging

Sportlifestyle company PUMA recorded a decline in first quarter sales as Eurozone retail spending continued to weaken and sales in Asia were affected by an unusually long winter. Sales fell by 2.3% in currency adjusted terms to € 782 million when compared to the first quarter of 2012.

PUMA's sales in the Americas improved by 1.8% currency adjusted to € 260 million. There were strong performances in Mexico and Brazil, where Teamsport was bolstered by Rio de Janeiro soccer club Botafogo, and Argentina, where Lifestyle collections are resonating well. Our Cobra PUMA Golf division continues to deliver outstanding results, which is also reflected in rising sales in North America.

Sales in the EMEA region were impacted in particular by the softening in retail spending, exacerbated be the unusually long winter, and fell by 4.8% currency adjusted to € 348 million.

Strong performances in Russia, Turkey and the D-A-CH region, where classic footwear models such as the Suede and new Motorsport apparel lines resonated well, could not completely offset weak performances in Italy and France. Steadfastly high levels of unemployment in the southern regions of the Eurozone added to the difficult retail environment.

In the Asia/Pacific region, sales declined by 2.9% currency adjusted to € 173 million. India, supported by excellent sales in Running and Teamsports, and Australia delivered positive performances which could not quite offset the less satisfactory numbers from Japan, where there was an unusually harsh winter, and China, where Fitness & Training products in particular did not perform as expected.

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