Puma reaffirmed its full-year targets, despite global pressure, as sales and profits rose sharply in the first quarter.
The German sportswear company announced quarterly sales of 1.91 billion euros, up 20% in fixed currency.
The rapid rise in Europe and the Americas helped offset the 17% drop in the Asia-Pacific region, where sales were hit by pandemic restrictions and geopolitical tensions.
Profits before taxes and interest increased by 27% to 196 million Euros and the operating margin increased by 300 basis points to 10.3%, while net profits increased to 121.4 million Euros from 109.2 million Euros previously.
Puma expected quarterly sales of € 1.83 billion and EBIT € 178 million.
For 2022, it expects an increase in organic sales by at least 10%, along with an increase in EBIT to 600-700 million Euros and a corresponding increase in net profits.
Source: Capital
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