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PUMA Q3 Operating Result Rises, Sales Up 17%; Slightly Adapts 2019 Guidance

(RTTNews) - PUMA (PMMAF.PK) reported that its third-quarter operating result (EBIT) increased by 24.8 percent to 162.2 million euros from 129.9 million euros, prior year, due to a strong sales growth combined with an improved gross profit margin and operating leverage. Net earnings increased by 29.7 percent to 100.5 million euros. Earnings per share was 0.67 euros compared to 0.52 euros.

Third-quarter sales increased by 17.0 percent currency adjusted to 1.48 billion euros (up 19.0 percent reported).

For fiscal 2019, PUMA now expects that currency adjusted sales will increase around 15 percent (previous guidance: currency adjusted increase of around 13 percent). Operating result (EBIT) is expected to be in between 420 million euros and 430 million euros (previous guidance: between 410 million euros and 430 million euros). In line with the previous guidance, management expects that net earnings will improve significantly in 2019.

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