Puma: net income down 3% in Q3

(CercleFinance.com) - Puma announces Q3 sales of E2308m, up 5% (in adjusted currencies) y-o-y; Business was underpinned by growth in the Americas, Asia/Pacific and EMEA.


Currencies continued to weigh on sales, negatively impacting euro-denominated sales by around E100m in Q3 2024 (-0.1% at reported growth rates).

Operating income (EBIT) rose 0.3% to E237m (just above Q3 2023: E236.3m), mainly thanks to an improvement in gross margin. Its EBIT margin stood at 10.3% (vs. Q3 2023: 10.2%).

Net income fell by 3% to E127.8m (vs. Q3 2023: E131.7m), slightly below expectations, showing EPS of E0.86, vs. E0.88 a year earlier.

Puma confirms its forecasts for FY 2024, i.e. mid-single-digit sales growth, adjusted for currency effects, and operating income (EBIT) of about E620m to E670m (vs. 2023: E621.6m).

We continue to expect net income (2023: E304.9m) to evolve in line with EBIT in 2024, the company says.


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