Puma Q4 sales decline 4.7%

20 Feb '14

2 min read

Confident that new strategic direction “Forever Faster” will initiate Turnaround.

2013 Fourth Quarter Facts

-Consolidated sales at € 698 million, a currency adjusted decline of 4.7%

-OPEX improve for the fourth consecutive quarter, down 4.8% against the same quarter last year

-EBIT before special items of € 1.1 million

-Special items of € 129 million booked, as indicated last November, consisting of mostly non-cash effective impairments

-EPS declines to € -7.71 due to impact of special items

2013 Full Year Facts

-PUMA’s full year consolidated sales are in line with guidance, declining by 3% currency adjusted to around € 3 billion

-Gross profit margin decreases to 46.5%

-Solid OPEX reduction: The Transformation and Cost Reduction Program drives the OPEX down 6.9% year on year

-Improved working capital position, led by strong focus on inventories and receivables management, resulting in a € 37 million improvement in free cash flow

-EBIT before special items reaches € 191.4 million

-EPS declines to € 0.36 due to impact of special items

Key sales figures at a glance

Bjoern Gulden, Chief Executive Officer of PUMA SE: “2013 has been a challenging year for PUMA and there is no doubt that we have issues in terms of lack of brand heat, commercial products and desirable distribution. Nonetheless, PUMA is a great brand and with our new brand positioning as the Fastest Sports Brand in the World, we have a clear vision of where we want to go.

“Forever Faster” is not only our new brand statement, it is also our new mindset. PUMA is about fast products, fast athletes, fast designs and fast decision making. With the re-signing of Usain Bolt, and signing of Arsenal FC and Mario Balotelli, we further demonstrate that we are a true sports brand.

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