彪马Puma SE（PUMG.DE）2025年第四季度及全年业绩报告「FWB」（英文版）（15页）.pdf

1、 1 Q4&FY 2025 PUMA completes reset in 2025;2026 designated as transition year Herzogenaurach,February 26,2026 Key developments FY 2025 PUMA outlines new strategic priorities to establish itself as a Top-3 global sports brand Sales decline by 8.1%on a currency-adjusted basis(ca)to 7,296.2 million(-13

2、.1%reported)primarily due to strategic reset initiatives Gross profit margin down 260 basis points to 45.0%due to increased wholesale promotions,inventory reserves from distribution clean-up and currency effects Adjusted EBIT,excluding one-time effects,decreases to -165.6 million due to the decline

3、in sales and lower gross profit margin Reported EBIT amounts to -357.2 million,including one-time effects of 191.6 million Inventories increase by 2.3%to 2,060.0 million;Inventory clean-up slightly ahead of plan and PUMA expects to return to more normalised inventory level by the end of 2026 PUMA se

4、cures additional financing and ends the year with unutilised credit lines of 1,202.2 million Outlook FY 2026 Currency-adjusted sales to decline in the low-to mid-single-digit percentage range Operating result(EBIT)between -50 million and -150 million Capital expenditures(CAPEX)of around 200 million

5、planned 2 Arthur Hoeld,Chief Executive Officer of PUMA SE:“2025 was a reset year for us.We want to establish PUMA as a Top-3 sports brand globally,return to above-industry growth and generate healthy profits in the medium term.It is crucial to make the PUMA brand less commercial and ensure we once a

6、gain excite our consumers with attractive products,compelling storytelling and distribution in the right channels.Im satisfied with the progress we have made so far.We cleaned up most of our distribution by reducing promotions in our own channels and cutting our exposure to those wholesale channels