Sportswear giant Puma reported strong annual results in 2018, as the German company witnessed double-digit growth across all geographic zones and product divisions. For the year ending December 31, 2018, the Herzogenaurach-based company said sales increase by 17.6% currency adjusted to €4,648 million (+12.4% reported) with double-digit growth in all regions.
Asia-Pacific, despite being the smallest of Puma’s three regions after the Americas (+16.9%) and market leader EMEA (+11.4%), was the strongest in growth terms for 2018, up 28.8% to €1,235.5 million. APAC was mainly driven by high growth in China and Korea, while sales in Japan increased at a more moderate mid to high single-digit rate.
In product terms, Puma highlighted the success of new sneaker styles Thunder, RS-0 and RS-X in 2018, as part of the company’s debut into the “chunky shoe” category.
Puma also spent 2018 re-entering the basketball category after 20 years, and signed supermodel Adriana Lima as its women’s training ambassador.
Net earnings increased by 38 % from €135.8 million to €187.4 million, and earnings per share lifted from €9.09 to €12.54.
“We are very happy with how our business developed in 2018. Sales rose organically by 17.6% to €4,648 million and the operating result (Ebit) improved by 37.9% % to €337 million, which shows our strong momentum,” said Bjørn Gulden, Chief executive officer of Puma.
“The double-digit growth in all regions is a proof that the we have strengthened the Puma brand globally and the double-digit growth in all product divisions shows that we have enhanced our product portfolio,” added Gulden.
In 2019, Puma said it expects currency adjusted sales to grow around 10% and operating results to increase to a range between €395 million and €415 million.
“We still have a lot to improve, but we feel we are moving our brand and company in a good direction,” said Gulden.