Wednesday July 29th, 2020 –

Puma had warned three months ago that the third quarter was going to be even worse than the first when the sporting goods manufacturer suffered losses but, despite Corona, did not yet report a loss. Now the time has come: In the second quarter, Puma slipped into the red due to corona-related pollution. The Herzogenaurach sporting goods manufacturer still does not dare to make a forecast including the corona effects. “The uncertainty associated with the virus and the fact that the number of infections continues to increase worldwide make it impossible to give a precise financial outlook for the full year,” said CEO Björn Gulden.

The year 2020 will remain difficult, the goal being “to survive, to recover and then to be strengthened and emerge from the crisis with growth”. Puma continues to expect the markets to recover by the end of 2020 and to grow again in 2021. Puma sees itself “well positioned to continue its growth and we will continue to invest in completely new product lines in 2021”.

In the three-month period April to June, there was a loss both operationally and on balance. The EBIT loss was EUR 114.8 million, after an EBIT profit of EUR 80.3 million in the same period of the previous year. After taxes and third parties, the shareholders had a loss of EUR 95.6 million (previous year: profit of EUR 49.7 million). The loss per share was EUR 0.64 after a profit of EUR 0.33. Revenue decreased to EUR 831.1 million from EUR 1.227 billion in the prior-year quarter, a currency-adjusted decrease of 31 percent, nominally 32.3 percent.


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