Puma Sees Strong Growth in First Quarter of 2019 Thanks to China Sales

Puma continues to grow rapidly. Last year, the Herzogenaurach-based company already grew by 18 percent – stronger than competitor Adidas. Now the company has once again improved more significantly than expected. Thanks primarily to high demand in China and America, sales rose by almost 17 percent to 1.32 billion euros.

Business with textiles was strong within the product segments, followed by accessories and shoes. The categories running and training, team sports, motor sports and golf also grew.

Some of these segments will continue to grow as new Puma expansions take place: the company contracts FC Valencia from the 2019/20 football season and becomes the official supplier for the match ball in the Spanish championship La Liga. From summer 2019, Puma will also be equipping Manchester City, one of the world's strongest football clubs, coached by Spaniard Pep Guardiola.

Puma CEO Björn Gulden said: "The growth in all regions and all product divisions shows that we continue to make progress. Even if we have nine more months to go and despite a lot of uncertainty in the market, we feel comfortable that we will achieve our guidance for the full year."

Operating profit (EBIT) increased by 27 percent to EUR 142.5 million. Puma earned 94.4 million euros in the first quarter of 2019. The figures were therefore even better than analysts had expected. In percentage terms, Puma already grew stronger than Adidas in 2018 (18 percent to 8 percent).

For the year 2019 as a whole, this means that the sporting goods company expects currency-adjusted sales growth of around 10 percent. EBIT is expected to improve to 395 million to 415 million (2018: 337.4). Group earnings are also expected to increase.