HERZOGENAURACH (dpa-AFX) - PUMA SE (PMMAF.PK), a German sportswear maker, on Wednesday reported significantly higher profit in its fourth quarter with higher sales.
Looking ahead, for fiscal 2025, the company projects adjusted EBIT excluding one-time costs in a range between 520 million euros and 600 million euros. Currency-adjusted sales growth is projected at low- to mid-single digit percentage rate.
In fiscal 2024, EBIT was 622 million euros with an EBIT margin of 7.1 percent, and currency-adjusted sales growth was 4.4 percent.
Further, the Management Board and the Supervisory Board would propose to the Annual General Meeting on May 21 the distribution of a dividend of 0.61 euro per share for the financial year 2024, down from prior year's 0.82 euro.
Under the current programme, PUMA plans to buy back own shares for up to 100 million euros between March 6 and May 6.
For the fourth quarter, net income came in at 24.5 million euros, higher than prior year's 0.8 million euros. Earnings per share amounted to 0.16 euro, up from 0.01 euro last year.
The operating result or EBIT increased 15.3 percent to 108.9 million euros from prior year's 94.4 million euros, due to sales growth and gross profit margin improvement. The EBIT margin came in at 4.8 percent, same as last year.
Operating expenses grew 15.8 percent year-over-year to 982 million euros.
Sales grew 15.5 percent from last year to 2.29 billion euros. Currency-adjusted sales increased 9.8 percent. Sales growth came from all regions, product divisions, and distribution channels.
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