For the first quarter of 2015, we expect net sales of 821.4 million EUR (prior year: 725.7 million EUR), an operating result (EBIT) of 37.5 million EUR (prior year: 58.6 million EUR) and net earnings of 24.8 million EUR (prior year: 35.6 million EUR).
The continued adverse developments of foreign exchange rates during the recent months, particularly the strengthening of the US-Dollar versus nearly all other currencies, had a significant negative impact on PUMA’s gross profit margin and operating result (EBIT) in the first quarter of 2015.
The previous guidance for 2015 (increase in the medium single-digit range for full-year currency-adjusted net sales, slight increase of the gross profit margin, slight increase of the operating result (EBIT) and of the net earnings compared to 2014) is therefore amended.
From today’s perspective, we continue to expect an increase in the medium single-digit range for full-year currency-adjusted net sales. However, due to the negative currency effects we expect a drop in the gross profit margin for the full year in a range of 100 to 150 basis points versus last year (2014: 46.6%). The operating result (EBIT) for the full year is expected in a range between 80 million and 100 million EUR. The net earnings guidance is amended according to the adjustment of the guidance for the operating result (EBIT).
