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PUMA brand sales up for Q4 & financial year of 2006

20 Feb '07

3 min read

PUMA continued its success story in the 2006 financial year, and finished the first year of Phase IV of its long-term corporate development better than expected.

Overall, the previous financial year saw the integration of seven license markets into the PUMA Group - Japan (Apparel), Taiwan, China, Hong Kong, Argentina, Mexico and Canada - and three of the announced seven new product categories have already been launched successfully.

Worldwide brand sales climbed by over 16% to € 2.8 billion in financial year 2006. Consolidated sales jumped over the 2 billion hurdle for the first time, growing currency adjusted by 34% to just under € 2.4 billion.

At 50.6%, the gross profit margin remained at a very high level. Operating profit reached € 366 million and significantly exceeded original expectations. Earnings per share were € 16.39, compared to € 17.79 in the previous year.

The PUMA share closed the year at € 295.67, posting another value increase of 20%. Market capitalization was € 4.8 billion.

Highlights Q4:
In Q4, consolidated sales increased currency neutral 43.3% to € 480.6 million. Footwear rose by 30.3% to € 273.2 million, Apparel by 79.4% to € 177.4 million and Accessories by 16.9% to € 29.9 million. All regions contributed to the growth: EMEA sales increased 12.8%, America was up by 37.2% and Asia/Pacific significantly by 151.7%.

The gross profit margin was at 47.7% 230 basis points below last year as expected. SG&A increased from 36.7% to 39.0% of sales. Pre-tax profit amounts to € 43.3 million versus € 56.5 million in last year's quarter. Earnings per share were at € 2.03 compared to € 2.76.

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