- Prachi Singh |
In the third quarter 2017, consolidated sales at Puma increased currency adjusted by about 17 percent or approximately 13 percent reported to 1,122 million euros (1,325 million dollars) compared to 990 million euros (1,169 million dollars) in the third quarter last year. The operating result (EBIT) in the quarter increased to about 101 million euros (119 million dollars).
In light of the strong third-quarter increase in sales and profitability as well as the positive business outlook for the fourth quarter of 2017, Puma has raised the full-year guidance for its consolidated sales, gross profit margin, operating expenses and operating result (EBIT). The management now expects that currency adjusted sales will increase between 14 percent and 16 percent (previous guidance: currency adjusted increase between 12 percent and 14 percent). The gross profit margin is now anticipated to improve to approximately 46.5 percent (previous guidance: approx. 46 percent).
Due to the expected increase in sales, the management now foresees operating expenses (OPEX) to increase at a low double-digit percentage rate (previous guidance: increase at a high single-digit percentage rate). As a result, the operating result (EBIT) is now anticipated to come in between 235 million euros and 245 million euros (277 and 289 million dollars) compared to previous guidance: between 205 million and 215 million euros (242 and 253 million dollars). Net earnings too are expected to improve significantly in 2017.