Puma AG announces financial result of the third quarter and first nine months of 2012.
Performance Third Quarter 2012
•Consolidated sales increase 6.0%in Euro terms
•EBIT before special items decreases by 16.7%to€98.8 million
•Special items€80 million due to Transformation and cost reduction program
•EPS down from€5.45 to€0.81
Performance First Nine Months of 2012
•Consolidated sales grow 7.8%in Euro terms
•EBIT before special items reduced by 13.0%to€247.9 million
•EBIT including special items€168.6 million
•EPS declines from€13.15 to€7.53
•Equity ratio improves from 62.9%to 65.2%
Outlook for the Financial Year 2012
•PUMA's Management maintains its 2012 sales guidance at a mid-single digit rate in Euro terms.
•Transformation Program complemented by immediate cost cutting measures as the difficult business environment in particular in Europe required short-term adjustments.
•Management expects annual net earnings to be significantly below those of 2011,impacted in particular by the one-time expenses.
"PUMA posted a moderate increase in sales in the third quarter despite the challenging business climate in Europe,"said Franz Koch,CEO of PUMA SE."We have taken decisive actions to overcome the issues we are currently facing in particular in Europe.Our Transformation Program 2010-2015 in combination with immediate cost cutting measures and a strengthened product pipeline in Performance and Lifestyle for next year will provide a solid basis for sustainable and desirable growth."
Source:
http://www.fibre2fashion.com/news/apparel-news/newsdetails.aspx?news_id=117278
