After a successful second quarter, the sporting goods manufacturer from Franconia is aiming for an overall result for 2021 that is far higher than initially assumed.
The sporting goods manufacturer Puma is raising its targets for 2021 after a successful second quarter. Management now expects currency-adjusted sales growth of at least 20 percent, as Puma announced on Friday in Herzogenaurach, Franconia.
So far, excluding currency effects, the group had promised sales growth in the mid-ten percent range.
For the operating result for the year as a whole, the company is now aiming for a value between 400 million and 500 million euros. Here Puma had only given a qualitative forecast and aimed for a significant improvement. The management continues to assume that the consolidated result will improve significantly. The outlook is subject to the proviso that production in Vietnam or China, for example, will be maintained and there will be no longer-term interruptions due to the pandemic.
In the second quarter, according to preliminary calculations, the Adidas competitor was able to almost double its sales to almost 1.6 billion euros compared to the same period last year thanks to strong demand, especially in North America. In addition, the group named a “sustained brand dynamism” and product launches as reasons. The profit before interest and taxes was around 109 million euros. Here Puma had to accept a loss of 115 million euros in the second quarter of 2020. At that time, the global sports and fashion business had collapsed by 85 percent due to the pandemic, according to the company.
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