Despite all the risks, the Dax group is also confident for 2022.
(Photo: AFP)
Munich After a record year, the sporting goods manufacturer Puma wants to further increase sales and profits in 2022 despite the global risks. “We will have to keep working hard in this difficult environment, however I remain very optimistic about the future of our industry in general and of Puma in particular,” said CEO Bjørn Gulden.
Last year, the Dax group was able to almost quadruple its bottom line profit from 79 to 310 million euros. Sales increased more than initially expected by 32 percent to 6.8 billion euros for the first time. The operating result improved from 209 to 557 million euros – another new record.
Recently, however, growth has slowed. In the fourth quarter, the group was able to increase sales by 14 percent. According to the new forecast, currency-adjusted revenues are expected to increase by at least ten percent in the current year. The operating result should be between 600 and 700 million euros.
The number three in the world has recently developed more dynamically than its big competitors. Adidas recently expected a sales increase of 17 to 18 percent for 2021.
Top jobs of the day
Find the best jobs now and
be notified by email.
Most providers could have sold more. The limiting factor was less demand than supply. Production downtime, especially in Vietnam, and problems in the supply chain cost Adidas, for example, according to company calculations, around two billion euros in sales over 15 months. World market leader Nike even had to lower its annual forecast in view of the challenges.
Risks remain great
Puma has coped better with the challenges so far. “We are working closely with our suppliers and wholesale partners to overcome any short-term issues and roadblocks without impacting our mid-term momentum. This strategy has paid off,” said Gulden.
However, there are many risks for the current year. “At the beginning of 2022, unfortunately, Covid-19 is still affecting our supply chain, inflationary pressures are negatively impacting our costs and operating margins, and the geopolitical situation remains very tense,” said Gulden.
The long-term forecasts in the industry are good. In the pandemic, many people around the world are rediscovering sport for themselves. According to a study by Boston Consulting, global trade in sporting goods is expected to grow by seven percent annually to $670 billion by 2025. Experts expect double-digit growth rates in e-commerce.
More: Leather from mushrooms and circular economy – this is how Adidas wants to become more sustainable.