HERZOGENAURACH (dpa-AFX) - German sportswear maker Puma SE (PMMAF.PK) reported Thursday a loss in its fourth quarter, compared to prior year's profit, amid weak sales. The firm also issued fiscal 2026 outlook, expecting narrower EBIT loss.
Further, the company said its Management Board and Supervisory Board will propose to the Annual General Meeting on May 19 that no dividend should be distributed for the financial year 2025 due to the net loss. The prior year's dividend was 0.61 euro per share.
In the fourth quarter, the company recorded net loss of 336.6 million euros, compared to prior year's profit of 24.5 million euros. Loss per share was 2.28 euros, compared to profit of 0.16 euro last year.
Los per share from continuing operations was 2.27 euros, compared to profit of 0.16 euro a year ago.
Operating result or EBIT was negative 307.7 million euros, compared to profit of 85.7 million euros last year. Adjusted EBIT was a loss of 228.8 million euros, compared to profit of 85.7 million euros a year ago.
Adjusted EBIT margin was negative 14.6 percent, compared to last year's positive margin of 4 percent.
In the fourth quarter, sales fell 27.2 percent to 1.56 billion euros from 2.15 billion euros last year. Currency-adjusted sales decreased 20.7 percent.
The sales decline was mainly due to the strategic reset measures taken to address muted brand momentum, elevated inventory levels and lower-quality distribution.
Looking ahead for fiscal 2026, the company projects an operating result or EBIT between a loss of 50 million euros and 150 million euros, including one-time effects related to the implemented cost efficiency program, amid ongoing geopolitical and macroeconomic uncertainties. In fiscal 2025, EBIT loss was 357.2 million euros.
The firm also sees currency-adjusted sales to decline in the low- to mid-single-digit percentage range, mainly attributable to lower sales in North America, reflecting measures to streamline distribution.
The firm projects sales growth in Latin America and Middle East, Africa & India.
PUMA expects 2026 to be a year of transition for the company, and will continue its efforts to streamline distribution and further reduce inventory levels.
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