Puma reported stronger than expected preliminary quarterly sales and core profit as global demand helped offset the effects from the pandemic and supply chain constraints.
Puma had previously warned that supply chain bottlenecks and manufacturing disruptions would signal a shortage of products well into 2022.
Puma said its fourth-quarter sales rose a currency-adjusted 14 percent to €1.77 billion ($2.01 billion), above analysts’ average forecast for €1.63 billion. “This growth was achieved despite the negative impact from the COVID-19 pandemic and continued supply chain constraints,” said Puma.
The company said quarterly earnings before interest and taxes (EBIT) rose to €65 million from €63 million in the same period of 2020, well ahead of analysts’ average forecast for €47 million.
In the financial year 2021, Puma achieved a currency-adjusted sales increase of approximately 32 percent to €6,805 million from €5,234 million a year ago and an operating result (EBIT) of €557 million against €209 million a year ago on a preliminary basis.
Both sales and operating results (EBIT) are the highest Puma has achieved in its history.
A complete overview of Puma’s financial performance for 2021 and its outlook for 2022 will be published on February 23, 2022.
Photo courtesy Puma
