HERZOGENAURACH (dpa-AFX) - German sportswear firm Puma SE (PMMAF.PK) reported Friday that its net earnings for the first quarter of 2019 increased 40.1 percent to 94.4 million from last year's 67.4 million euros. Earnings per share rose to 6.31 euros from 4.51 euros a year ago.
Operating result or EBIT increased 27 percent to 142.5 million euros from 112.2 million euros last year, due to a strong sales growth combined with a higher gross profit margin.
Sales for the quarter increased 16.6 percent to 1.32 billion euros from 1.13 billion euros a year ago. Currency-adjusted sales increased 15.3 percent, driven by continued growth in all regions and product divisions.
According to Puma, the revenue figure was the highest it has ever achieved in a quarter, while the EBIT figure was also the highest absolute EBIT it has ever achieved.
The company noted that the regions Asia/Pacific, driven by China, and the Americas contributed with double-digit sales growth, while sales in EMEA also increased solidly. In terms of divisions, Apparel was the main growth driver in the quarter, followed by Accessories and Footwear.
Looking ahead, Puma confirmed its guidance for fiscal 2019, which was provided on February 14, 2019.
The company affirmed its outlook for currency-adjusted sales to grow around 10 percent, and EBIT to be in a range between 395 million euros and 415 million euros. The company also continues to expect a significant improvement in net earnings for the year.
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