HERZOGENAURACH (dpa-AFX) - German sportswear maker Puma SE (PMMAF.PK) reported Thursday sharply lower profit in its first quarter with higher expenses and lower sales. Further, the firm maintained its fiscal 2025 outlook, and said it is on track to have approximately 500 corporate positions reduced globally by the end of the second quarter 2025.
In its first quarter, net income came in at 0.5 million euros, down from prior year's 87.3 million euros. Earnings per share were break even, compared to last year's earnings of 0.58 euro.
The operating result or EBIT decreased 63.7 percent year-over-year to 57.7 million euros, and the EBIT margin came in at 2.8 percent, down from 7.6 percent a year ago.
Adjusted EBIT decreased 52.4 percent from last year to 75.7 million euros, and adjusted EBIT margin of 3.6 percent dropped from 7.6 percent a year ago.
Operating expenses increased by 7.1 percent to 905 million euros.
Sales dropped 1.3 percent to 2.076 billion euros from 2.102 billion euros last year. Sales grew currency-adjusted by 0.1 percent. Sales in the EMEA region increased 5.1 percent. In the Americas region, sales decreased 2.7 percent due to a decline in North America, while Latin America recorded double-digit growth.
Sales in the Asia/Pacific region decreased 4.7 percent, reflecting ongoing softness in Greater China.
Looking ahead, Puma said it continues to focus on its controllables and expects currency-adjusted sales to grow in the low- to mid-single-digit percentage range in the financial year 2025.
PUMA still expects an adjusted EBIT in the range of 520 million euros to 600 million euros for the financial year, down from last year's 622.0 million euros.
The outlook excludes potential implications from U.S. tariffs announced after PUMA's initial outlook on March 11.
Markus Neubrand, Chief Financial Officer of PUMA SE, said, 'In the evolving global trade landscape and amidst macroeconomic volatility, we concentrate on controllable factors and diligently serve our retail partners, consumers, and brand ambassadors. Our outlook for the financial year 2025 remains unchanged. Due to the highly uncertain implications from the U.S. tariffs, we are not quantifying the potential implications at this stage. We already reduced U.S. imports from China and we will continue to remain agile and ready to manage the increased market volatility and swiftly respond to changing external conditions.'
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
