PUMA
Q1 2024
FACT SHEET
*
*currency adjusted
INVENTORIES
1,786/
-17%
TRADE RECEIVABLES
1,432/+12%
TRADE PAYABLES
1,223/
-5%
WORKING CAPITAL
1,846/+5%
Q1 2024
BALANCE
SHEET
KPIs
in € million /
% deviation
PUMA Q1 2024 FACT SHEET
Q1 2024
SALES
BY
PRODUCT
DIVISIONS
in € million | % of
total Sales
FOOTWEAR
APPAREL
ACCESSORIES
1,181.5 +3.1%* | 56% 608.1 -2.4%* | 29%
312.7 -3.2%* | 15%
EMEA
855.7 +0.0%*
Q1 2024
SALES
BY
REGIONS &
CHANNEL
in € million
WHOLESALE
1,608.1 -2.9%*
DTC
494.2 +13.5%*
ASIA/PACIFIC
456.6 +0.6%*
AMERICAS
790.0 +1.0%*
* currency adjusted sales growth
Q1 2024
P&L
FACTS
2,102
47.5%
845 159
7.6%
MILLION €
SALES
GROSS PROFIT MARGIN
MILLION €
OPEX
MILLION €
EBIT
EBIT MARGIN
+0.5%
+1.0 -
0.4%
-
9.4%
-0.5
SALES GROWTH
(currency adjusted)
PERCENTAGE POINTS
OPEX GROWTH EBIT GROWTH
PERCENTAGE POINTS
* currency adjusted sales growth
38%
22%
40%
24%
76%
2024
OUTLOOK
CONFIRMED
PUMA expects to achieve mid-single-digit currency-adjusted sales growth and an
operating result (EBIT) in the range of € 620 million to € 700 million for the financial
year 2024 (2023: € 621.6 million). We expect net income (2023: € 304.9 million) to
change in 2024 in line with the operating result.
1
“We delivered our first quarter results fully in line with expectations. While the
market continues to be volatile, we delivered growth and gross profit margin
improvement despite significant currency headwinds and high prior year
comparables. Our retail partners are still working through elevated stock levels, but
as our sell-through was higher than our sell-ins, we jointly improved the inventory
levels in the wholesale channel. We expect that we will improve sell-in in course of
Q2. Our double-digit growth in DTC with fewer discounts confirms the continued
strong demand for the brand and thus continued good sell-through.
Our strong momentum in performance categories driven by exciting innovations and
newness is ongoing and we are further growing our market shares. For our
Sportstyle category, 2024 is a transition year to build the future success in the
elevated distribution. Our go-to-market and demand creation processes are starting
to improve and are crucial as a foundation for the success in Sportstyle. We already
see that sales of our trending terrace and skate styles Palermo and Suede XL are
accelerating month over month and we are very excited to launch our vintage running
franchise Easy Rider and low profile shoes Mostro, Speedcat and Inhale this year.
With our good order book for the second half of the year and the great start of our
brand campaign, I feel very confident about our sequential quarter-over-quarter
improvement in 2024.
We are focusing our efforts on building the foundation for the next chapter of growth
based on increased brand desirability. The launch of our first brand campaign in a
decade was an important first step and the first results came in above our
expectations. I could not imagine a better year than the 2024 Year of Sport to advance
PUMA’s brand elevation journey. We are looking forward to celebrating this summer’s
events with our employees, consumers, retail partners and brand ambassadors.”
ARNE
FREUNDT
CEO
PUMA SE
PUMA Q1 2024 FACT SHEET
Notes relating to forward
-
looking statements
This document contains statements about the future business development and strategic
direction of the Company. The forward-looking statements are based on management's
current expectations and assumptions. They are subject to certain risks and fluctuations as
described in other publications, in particular in the risk and opportunities management
section of the combined management report. If these expectations and assumptions do not
apply or if unforeseen risks arise, the actual course of business may differ significantly from
the expected developments. We therefore assume no liability for the accuracy of these
forecasts.
CONTACT
FINANCIAL CALENDAR
2
22 May 22 2024 Annual General Meeting
07 August 2024 Interim Report Q2 2024
06 November 2024 Quarterly Statement Q3 2024
