Q3 2022
F A C T S H E E T
*currency adjusted | |||||||||||
Q3 2022 AT A GLANCE | |||||||||||
2,354 46.8% | 853 | 258 | 10.9% | ||||||||
MILLION € GROSS PROFIT MARGIN | MILLION € | MILLION € | EBIT MARGIN | ||||||||
NET SALES | OPEX | EBIT |
16.9% | - | 60 | 25.8% | + | 12.6% | - | 110 | |||||
+ | + | |||||||||||
REVENUE GROWTH | BASIS POINTS | OPEX GRWOTH | EBIT GROWTH | BASIS POINTS | ||||||||
(currency adjusted) |
BJØRN GULDEN
CEO PUMA SE
"Despite all the global uncertainties the third quarter was again a very good quarter for us. With sales being up 24% in Euro terms at € 2,354 million and EBIT up 13% to € 258 million, it was the best quarter in PUMA's history. Improved product availability due to a more stable supply chain, better than expected sell-through and PUMA's continued global brand momentum overcompensated all the negative external factors. During the first nine months, we achieved sales growth of 24% in Euro terms (18% ca) to € 6,269 million and an EBIT of € 600 million. Our performance categories like Running, Soccer and Basketball continue to do very well. We still see strong demand for Footwear, but we also observe that high inventory levels in the market, especially for apparel, have led retailers to order more cautiously than a year ago. With almost all our markets up double-digit, we continue to see a strengthening of the PUMA brand and our sales globally.
We expect continued volatility in the market during the fourth quarter but are confident that we can deliver according to our full- year outlook. We will also continue with our people-first approach and always prioritize the health and safety of our employees and not save on anything. At the moment, this is especially true for our people and their families in Ukraine who have our full sympathy and support. At the same time, we will also continue to invest in our people, brand and infrastructure, as sales growth and higher market shares will be more important than short-term profit optimization."
- PUMA and Manchester City host their first-ever metaverse jersey launch on Roblox to unveil the new 3rd kit for 2022/23
- PUMA and WNBA star Breanna "Stewie" Stewart launch the Stewie 1, the first new women's signature basketball sneaker in over a decade
- PUMA presents LaMelo Ball's second signature shoe MB.02 following the sell-through success of the MB.01
- PUMA athletes win medals and set records at World and European Athletics Championships
- PUMA extends its roster of world class track & field athletes by signing Elaine Thompson-Herah, Abby Steiner, Emmanuel Korir and Mutaz Essa Barshim
- PUMA launches SEASONS, an elevated outdoor collection
- PUMA's FUTROGRADE show at New York Fashion Week blends past and present of the brand in virtual and real-life spectacle
- PUMA announces a long-term partnership with Skepta, a British-Nigerian rapper and record producer
- PUMA hosts Conference of the People, a global event to discuss solutions for a more sustainable fashion industry
HIGHLIGHTS
1
9M 2022
P U M A B U S I N E S S
SALES SPLIT
In line with previous quarters, sales growth was driven by continued strong demand for our Performance categories like Running & Training, Teamsports and Basketball, as well as for the Sportstyle category.
PRODUCT
50% | 35% | 15% | ||
FOOTWEAR | APPAREL | ACCESSORIES |
DISTRIBUTION | REGIONAL | ||||
79% | 21% | 38% | 43% | 19% | |
WHOLESALE | DTC | EMEA | AMERICAS | APAC |
NINE MONTHS 2022 RESULTS
INCOME STATEMENT
(IN MILLION €)
NET SALES | 6,269/+24% (+18%)* |
GROSS PROFIT MARGIN | 46.8%/-100bps |
OPEX | 2,357/+22% |
EBIT | 600/+22% |
NET EARNINGS | 352/+17% |
EPS | 2.35 |
*currency adjusted
BALANCE SHEET ITEMS
(IN MILLION €)
INVENTORIES | 2,350/+72% |
TRADE RECEIVABLES | 1,290/+22% |
TRADE PAYABLES | 1,810/+51% |
WORKING CAPITAL | 1,339/+86% |
INVENTORIES IN TRANSIT
698** | INVENTORIES | |||
+81% | (+64%)* | |||
TOTAL | ||||
2,350 | ||||
+72% | INVENTORIES ON HANDS | |||
(+59%) | * | 1,652 | ||
INVENTORY | +69%(+58%)* | |||
SEPTEMBER 30TH 2022 | ||||
(IN MILLION €) | ||||
VS LAST YEAR | *currency adjusted **including raw materials and other inventories |
FINANCIAL CALENDAR
March 01, 2023 | Financial Results FY 2022 |
April 26, 2023 | Quarterly Statement Q1 2023 |
May 24, 2023 | Annual General Meeting |
July 26, 2023 | Press Release Q2 2023 |
CONTACT | Notes relating to forward-looking statements | |
Gottfried Hoppe | This document contains forward-looking statements about the Company's future financial | |
Head of Investor Relations & | status and strategic initiatives. The forward-looking statements are based on the current | |
Finance Strategy | expectations and assumptions of the management team. These are subject to a certain level | |
Phone: +49 9132 81 3157 | of risk and uncertainty including, but not limited to those described above or in other | |
gottfried.hoppe@puma.com | disclosures, in particular in the chapter Risk and Opportunity Management in the Group | |
Management Report. In the event that the expectations and the assumptions do not | ||
materialize or unforeseen risks arise, the Company's actual results can differ significantly | ||
from expectations. Therefore, we cannot assume responsibility for the correctness of these |
statements. | 2 |
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Puma SE published this content on 26 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2022 06:07:06 UTC.