Preliminary reports for Puma AG indicate that the company saw consolidated sales jump 52.1% on a currency-neutral basis to $983.9 million (€909.8 million) from $646.8 million (€598.1 million) last year. Currency-adjusted sales increased by a healthy 54.8%.

Worldwide branded sales including sales by licensees increased 36.4% from to $1.5 billion (€1.4 billion). Without currency fluctuations, branded sales jumped by approximately 40%.

Puma net earnings more than doubled for the year to $91.8 million (€84.9 million) versus $42.9 million (€39.7 million) in 2001. Earnings per share jumped by 110.8%.

Gross margin gained 170 bps to 43.6% for the fiscal year 2002, versus 41.9% in 2001.

As of December 31, 2002, order backlog was $574.4 million (€531.1 million) compared with $389.5 million (€360.1 million) last year.

KEY METRICS:

  • Backlog up 47.5%, 50% on currency-adjusted basis
  • SG&A down 350 bps to 33.4% versus 36.9% in 2001
  • EBIT jumped by 111.8% to €125.0 million.
  • Net return is 9.3% for 2002 versus 6.6% for 2001.
  • Cash position increased to €94.3 million vs. a €7.8 million deficit in 2001.