Puma: financial projections for 2025 revised downwards after a €246.6m loss in the 1^st half of the year

Puma has posted a net loss of €246.6m and sales of €4.018bn, down 4.8% (after adjusting for currency effects) at the end of the first half of 2025 (from 01/01 to 30/06/2025), announced the German group on 24/07/2025. The gross profit margin fell by 60 basis points to 46.5%, while adjusted EBIT was down to €62.5m.

These figures are mainly due to the results recorded in the second quarter of 2025 (01/04 to 30/06/2025), with sales down by 2% (-9.1% in the United States and -3.9% in Europe) to €1.942bn, and a net loss of €247m. "Currencies were a major headwind, negatively impacting sales in euro terms by approximately €135m (-8.3% reported)," said the German equipment manufacturer.

The German group has therefore revised its forecasts downwards for fiscal year 2025, predicting a double-digit decline in turnover. "Puma no longer expects to achieve the currency-adjusted sales growth previously anticipated for the remainder of 2025. The softer topline performance observed in the second quarter is expected to persist for the remainder of 2025, resulting in higher inventory levels. In this…