PUMA reports robust growth in volatile 2023

In a context marked by unprecedented challenges, PUMA SE revealed a significant increase in its sales in 2023, with currency-adjusted growth of 6.6% reaching 8.602 billion euros. This remarkable performance is all the more notable when we consider the delicate impact of the extraordinary devaluation of the Argentine peso, without which sales growth would have exceeded 8%.

Despite adverse market conditions and currency pressures, the company recorded a gross margin improvement of 20 basis points, attributed to an advantageous pricing strategy and an effective geographic and channel mix. EBIT (Operating Profit) for the year amounted to 622 million euros, in line with forecasts.

PUMA also saw its free cash flow more than double, reaching 369 million euros, allowing it to propose a dividend of 0.82 euros per share for 2023. Despite the turmoil, including the significant devaluation of the Argentine peso, the brand Sportswear shows strong momentum and an optimistic outlook for 2024, forecasting exchange rate-adjusted sales growth in the mid-single digits and EBIT between €620 million and €700 million.

2024 promises to be a dynamic year for PUMA, marked by major product innovations and the launch of its first brand campaign in ten years, confirming its position as a leading sports brand and its dynamism against the competition.