BERLIN (Reuters) – Puma on Wednesday reported better-than-expected second-quarter profit, thanks to “very strong growth” in its product line, and raised its overall sales forecast. of the 2022 financial year.
The German sportswear maker reported earnings before interest and tax (Ebit) up 34.4% year-on-year to 146 million euros, compared to analysts’ average forecast for Ebit of 128.94. millions of euros.
“We feel that the investments in R&D, innovation and product development, which have increased over the past few years, are starting to pay off,” Chief Executive Bjorn Gulden said in a statement.
In the second quarter, turnover increased by 18.4% after adjusting for currency effects, to reach 2.002 billion euros. The company said it saw strong growth in all of its categories, including running, training, team sports, golf and basketball.
“We are seeing a generalization of the feeling of uncertainty around the world,” said Bjorn Gulden, adding: “I remain optimistic for our sector in general and for the Puma brand in particular; we are even raising our sales forecast for the whole of 2022.”
Puma raised its outlook for currency-adjusted sales growth for the full year to around 15% from at least 10% previously. The company also reiterated its objective of an Ebit in the range of 600 to 700 million euros for the 2022 financial year.
(Report Paul Carrel; French version Charlotte Lavin, edited by Kate Entringer)
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