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PUMA SE (ISIN: DE00069696303 WKN: 696960)

PUMA WAY 1, D-91074 Herzogenaurach

PUMA announces preliminary results for the financial year 2023
and outlook for 2024

Financial performance 2023 impacted by extraordinary Argentine peso devaluation

Herzogenaurach, January 24, 2024 – Following the extraordinary devaluation of the Argentine peso by 54% in December 2023 and the application of hyperinflationary accounting*, PUMA achieved full-year currency-adjusted sales growth of around 6.6% and 1.6% reported, with preliminary 2023 sales of approx. € 8,602 million (outlook: high single-digit currency-adjusted growth). The operating result (EBIT) amounted to approx. € 622 million (outlook: € 590 to 670 million). Sales were therefore broadly in line with the outlook and EBIT, despite the significant devaluation, was fully in line with the outlook. The devaluation mainly affected the financial result. Consequently, net income was approx. € 305 million (outlook: change corresponding to EBIT).

Excluding the extraordinary devaluation of the Argentine peso, PUMA delivered currency-adjusted sales growth above 8% and an EBIT above last year (2022: € 641 million).

Although PUMA achieved an underlying operating sales growth, the application of hyperinflationary accounting led to a sales decline in the fourth quarter. On a currency-adjusted basis sales declined by around 4.0% (reported sales declined by around 9.8%) to approx. € 1,982 million (Q4 2022: € 2,197 million). EBIT came in strongly at
approx. € 94 million (Q4 2022: € 41 million). The devaluation of the Argentine peso especially impacted the fourth quarter financial result, resulting in a net income of approx. € 0.8 million (Q4 2022: € 1.4 million).

Both sales and net income are below the analysts’ consensus. However, the consensus does not take negative effects from the extraordinary devaluation of the Argentine peso into account.

Supported by PUMA's continued brand momentum and despite continued global geopolitical and macroeconomic headwinds, PUMA expects a mid-single-digit currency-adjusted sales growth and an EBIT in the range of € 620 million to € 700 million (2023: approx. € 622 million) in the financial year 2024. The outlook assumes that the future devaluation of the Argentine peso will be fully compensated by corresponding price increases in Argentina.

* Hyperinflation accounting requires according to IAS 29 an adjustment for inflation and the currency translation with the year-end currency rate instead of using the average currency rate of the full-year and the impact needs to be fully recognized in the respective quarter.

Financial Calendar:

February 27, 2024  Financial Results FY 2023

February 29 – March 01, 2024 Capital Markets Day

May 08, 2024  Quarterly Statement Q1 2024

May 22, 2024  Annual General Meeting

August 07, 2024  Interim Report Q2 2024

November 06, 2024  Quarterly Statement Q3 2024

The financial releases and other financial information are available on the Internet at “about.puma.com“.

Media Relations:

Kerstin Neuber – Senior Director Corp Comms – PUMA SE – [email protected]

Investor Relations:

Gottfried Hoppe – Head of Investor Relations & Finance Strategy - PUMA SE - +49 9132 81 3157 -

[email protected]

Notes to the editors:

• The financial reports are posted on about.puma.com
• PUMA SE stock symbol:

Reuters: PUMG.DE, Bloomberg: PUM GY,

Börse Frankfurt: ISIN: DE0006969603– WKN: 696960

PUMA is one of the world’s leading sports brands, designing, developing, selling and marketing footwear, apparel and accessories. For 75 years, PUMA has relentlessly pushed sport and culture forward by creating fast products for the world’s fastest athletes. PUMA offers performance and sport-inspired lifestyle products in categories such as Football, Running and Training, Basketball, Golf and Motorsports. It collaborates with renowned designers and brands to bring sport influences into street culture and fashion. The PUMA Group owns the brands PUMA, Cobra Golf and stichd. The company distributes its products in more than 120 countries, employs about 20,000 people worldwide and is headquartered in Herzogenaurach/Germany.

For more information, please visit https://about.puma.com.