FRANKFURT, Feb 26 (Bernama-dpa) -- German sportswear maker Puma on Thursday reported a loss in its fourth quarter amid weak sales, German Press Agency (dpa) reported.
The firm also issued a fiscal 2026 outlook, expecting a narrower loss in earnings before interest and tax (EBIT).
Further, the company said its management board and supervisory board will propose to the annual general meeting on May 19 that no dividend should be distributed for the financial year 2025 due to the net loss.
The prior year's dividend was €0.61 (US$0.72) per share.
In the fourth quarter, the company recorded a net loss of €336.6 million, compared to the prior year's profit of €24.5 million.
Loss per share was €2.28, compared to a profit of €0.16 last year. Loss per share from continuing operations was €2.27, compared to a profit of €0.16 a year ago.
Operating result or EBIT was minus €307.7 million, compared to a profit of €85.7 million last year. Adjusted EBIT was a loss of €228.8 million, compared to a profit of €85.7 million a year ago. Adjusted EBIT margin was negative 14.6 per cent, compared to last year's positive margin of 4.0 per cent.
In the fourth quarter, sales fell 27.2 per cent to €1.56 billion from €2.15 billion last year. Currency-adjusted sales decreased 20.7 per cent.
The sales decline was mainly due to the strategic reset measures taken to address muted brand momentum, elevated inventory levels, and lower-quality distribution.
Looking ahead to fiscal 2026, the company projects an operating result or EBIT between a loss of €50 million and €150 million, including one-time effects related to the implemented cost efficiency program, amid ongoing geopolitical and macroeconomic uncertainties. In fiscal 2025, EBIT loss was €357.2 million.
The firm also sees currency-adjusted sales declining in the low- to mid-single-digit percentage range, mainly attributable to lower sales in North America, reflecting measures to streamline distribution. The firm projects sales growth in Latin America and the Middle East, Africa, and India.
Puma expects 2026 to be a year of transition for the company and will continue its efforts to streamline distribution and further reduce inventory levels.
-- BERNAMA-dpa
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