Slide 1: Earnings Call Q1 2024
MAY 8TH, 2024 EARNINGS CALL Q1 2024
Slide 2: Wembley Calling! BVB in Champions League Finals
WEMBLEY CALLING! BVB IN CHAMPIONS LEAGUE FINALS P2
Slide 3: Q1 2024 Fully in Line with Expectations
Q1 2024 FULLY IN LINE WITH EXPECTATIONS P3
Slide 4: Agenda
AGENDA 01. BRAND UPDATE Q1 2024 02. FINANCIAL UPDATE Q1 2024 03. OUTLOOK 2024
Slide 5: Main Highlights
MAIN HIGHLIGHTS Q1 2024 FULLY INLINE WITH EXPECTATIONS ONGOING MOMENTUM IN PERFORMANCE BUILDING UP TRACTION WITH SPORTSTYLE NEWNESS MAKING PROGRESS IN BRAND ELEVATION P5
Slide 6: Great Product Newness in Football
GREAT PRODUCT NEWNESS IN FOOTBALL Q1 PHENOMENAL DROP P6
Slide 7: Growing from Strength to Strength
GROWING FROM STRENGTH TO STRENGTH FUTURE 7 HIGHEST MARKET SHARE GAIN FOOTBALL FOOTWEAR FRANCHISE IN Q1 SPECIAL EDITION NEYMAR JNR P7
Slide 8: Looking Great at Our Retail Partner
LOOKING GREAT AT OUR RETAIL PARTNER CONTINUOUS EFFORTS TO BE THE BEST PARTNER IN THE INDUSTRY P8
Slide 9: Strong Collaborations with Clubs
STRONG COLLABORATIONS WITH CLUBS 4TH KIT RELEASE MAN CITY YEAR OF THE DRAGON ACPLEASURES MILAN P9
Slide 10: Theo Hernandez
WELCOME TO THE FAM THEO HERNANDEZ P10
Slide 11: Weston McKennie
WESTON MCKENNIE STRENGTHENING FOOTBALL PRESENCE IN THE U.S. P11
Slide 12: Great Product Newness in Hoops
GREAT PRODUCT NEWNESS IN HOOPS KEY DROPS IN Q1 2024 MB.03 SPARK STEWIE 3 SCOOT ZEROS ALL PRO NITRO PE P12
Slide 13: Ongoing Heat with LaMelo
ONGOING HEAT WITH LAMELO MB.03 SPARK P13
Slide 14: La Francé
BRINGING THE HEAT OFF-COURT UPCOMING LAUNCH IN MAY 2024 LA FRANCÉ P14
Slide 15: Tapping into Amateur Basketball
TAPPING INTO AMATEUR BASKETBALL PARTNERSHIP WITH NXT PRO ALL PRO NITRO PE P15 ALL PRO NITRO
Slide 16: Great Product Newness in Running
GREAT PRODUCT NEWNESS IN RUNNING ACROSS ALL FRANCHISES SUPPORTING ALL TYPES OF RUNNERS RACE DAY FRANCHISES FAST-R NITRO ELITE 2 DEVIATE NITRO ELITE 2 EVERYDAY RUNNING FRANCHISES VELOCITY NITRO 3 DEVIATE NITRO 2 FOREVERRUN NITRO P16
Slide 17: Race-Day Priority: Fast-R2
RACE-DAY PRIORITY: FAST-R2 AWARD WINNING SHOE HENDRIK PFEIFFER #3 IN HOUSTON P17 2:07:14 IMPROVED PB
Slide 18: Deviate Nitro Elite 3
DEVIATE NITRO ELITE 3 NEWNESS COMING IN AH24 FIONA O´KEEFFE DAKOTAH LINDWURM VIVIAN CHERUIYOT EDNA KIPLAGAT U.S. OLYMPIC TRIALS 2024 U.S. OLYMPIC TRIALS 2024 PARIS MARATHON 2024 BOSTON MARATHON 2024 1 PLACE / MARATHON DEBUT 3RD PLACE ST 3RD PLACE 3RD PLACE 2:22:10 2:25:31 PB 2:21:46 PB 2:23:21 PODIU
Slide 19: Entered Top Brands in Wuxi Marathon
ENTERED TOP 10 BRANDS IN WUXI MARATHON ONE OF CHINA’S LARGEST MARATHONS WITH 33K RUNNERS JOINING P19
Slide 20: Owning the Grid in China
OWNING THE GRID IN CHINA FASHION SHOW LINKED TO FIRST SUPER BRAND DAY WITH TMALL P20
Slide 21: All Eyes on Ferrari in Miami
ALL EYES ON FERRARI IN MIAMI GP RACE COLLECTION P21
Slide 22: Ongoing Momentum in Performance
ONGOING MOMENTUM IN PERFORMANCE P22
Slide 23: Palermo
PALERMO CONTINUOUS ACCELERATION IN TERRACE P23
Slide 24: Palermo
PALERMO DELIVERING NEWNESS THROUGHOUT Q1
Slide 25: Suede XL
SUEDE XL CONTINUOUS ACCELERATION IN SKATE TREND P25
Slide 26: Looking Great at Our Retail Partner
LOOKING GREAT AT OUR RETAIL PARTNER CONTINUOUS EFFORTS TO BE THE BEST PARTNER IN THE INDUSTRY P26
Slide 27: Easy Rider
EASY RIDER LAUNCHING AND SCALING NEW FRANCHISE P27
Slide 28: Great Opportunity
GREAT OPPORTUNITY ADDITIONAL NEW FRANCHISES LAUNCHING IN TERRACE & SKATE TREND INDOOR PALERMO MODA ARIZONA SUEDE DELPHIN ARMY TRAINER ROMA PUMA-180 TERRACE SKATE PALERMO EASY RIDER SUEDE XL
Slide 29: Re:Suede – Capsule Launch
RE:SUEDE – CAPSULE LAUNCH CONTINUOUS INVESTMENT IN SUSTAINABILITY P29
Slide 30: Fenty x PUMA Avanti Pony Hair
FENTY X PUMA AVANTI PONY HAIR GREAT CONSUMER ENGAGEMENT P30
Slide 31: Fenty x PUMA Creeper Phatty
FENTY X PUMA CREEPER PHATTY CREATING HEAT AND HALO P31
Slide 32: Leading in Low Profile
LEADING IN LOW PROFILE SPEEDCAT INHALE MOSTRO P32
Slide 33: Incubating Low Profile Trend Since 12 Months
INCUBATING LOW PROFILE TREND SINCE 12 MONTHS FROM MULTIPLE ANGLES PARIS FASHION WEEK PARIS FASHION WEEK A$AP ROCKY NY FASHION WEEK F1 GP CHINA 03/2023 09/2023 02/2024 02/2024 04/2024 P33
Slide 34: Speedcat
SPEEDCAT BUILDING LOW PROFILE TREND IN STREET-FASHION SPACE P34
Slide 35: Speedcat
SPEEDCAT OPEN YY COLLABORATION IN Q1 2024 P35
Slide 36: Mostro
MOSTRO BUILDING LOW PROFILE TREND IN FASHION SPACE ECSTASY DROP OTTOLINGER P36
Slide 37: Inhale
INHALE A$AP ROCKY MOTORSPORT ACTIVATION P37
Slide 38: Welcome Henry Lau
LATEST BRAND AMBASSADOR JOINING PUMA STRENGTHENING ROSTER IN CHINA WELCOME HENRY LAU 8.4M 12.5M 9.5M P38
Slide 39: Building Up Traction with Sportstyle Newness
BUILDING UP TRACTION WITH SPORTSTYLE NEWNESS P39
Slide 40: 2024: Year of Sport
FOREVER. FASTER. 2024: YEAR OF SPORT EUROS COPA OLYMPICS PARALYMPICS P40
Slide 41: 2024: Year of Speed
FOREVER. FASTER. 2024: YEAR OF SPEED P41
Slide 42: Presence in Upcoming Football Events
PRESENCE IN UPCOMING FOOTBALL EVENTS COPA AMERICA & EURO CUP MATCHBALL 4 TEAMS 1 TEAM RE:FIBRE P42
Slide 43: Jamaica Track & Field Kit Reveal
JAMAICA TRACK & FIELD KIT REVEAL P43
Slide 44: Track & Field Kit Reveal
TRACK & FIELD KIT REVEAL 17 FEDERATIONS WEARING PUMA IN 2024 P44
Slide 45: Fireglow
aN Va SPRINT DEVATES) ‘OREVER.|
Slide 46: First Global Brand Campaign in Years
FIRST GLOBAL BRAND CAMPAIGN IN 10 YEARS P46
Slide 47: See the Game Like We Do
SEE THE GAME LIKE WE DO bf 7 Ss FOREVER wu FAS TEbkz, ~ Prom a A je itty, &S _—_ = i aaa
Slide 48: Consistent Performance Platform
CONSISTENT PERFORMANCE PLATFORM ACROSS MAJOR SPORTS CATEGORIES P48
Slide 49: Consistent Implementation
CONSISTENT IMPLEMENTATION ACROSS DIFFERENT CHANNELS puma Send message VIDEO SOCIAL MEDIA OUT-OF-HOME E-COM P49
Slide 50: Making Progress in Brand Elevation
MAKING PROGRESS IN BRAND ELEVATION P50
Slide 51: Main Highlights
MAIN HIGHLIGHTS Q1 2024 FULLY INLINE WITH EXPECTATIONS ONGOING MOMENTUM IN PERFORMANCE BUILDING UP TRACTION WITH SPORTSTYLE NEWNESS MAKING PROGRESS IN BRAND ELEVATION P51
Slide 52: Agenda
AGENDA 01. BRAND UPDATE Q1 2024 02. FINANCIAL UPDATE Q1 2024 03. OUTLOOK 2024
Slide 53: Q1 2024 Sales Breakdown
Q1 2024 SALES BREAKDOWN SALES VS LAST YEAR (IN %, CURRENCY ADJUSTED) BY CHANNEL BY DIVISION BY REGION WHOLESALE -2.9% TOTAL DTC +13.5% FOOTWEAR +3.1% EMEA +0.0% BRICK & MORTAR +15.4% APPAREL -2.4% AMERICAS +1.0% E-COM +10.4% ACCESSORIES -3.2% APAC +0.6% TOTAL +0.5% TOTAL +0.5% TOTAL +0.5% TOTAL: EUR
Slide 54: Q1 2024 Sales Breakdown
Q1 2024 SALES BREAKDOWN QUARTERLY SALES BY MARKET VS LAST YEAR (IN %, CURRENCY ADJUSTED) Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 EEA +23.4% +9.0% -1.4% -9.2% -3.5% EEMEA +33.5% +111.4% +63.6% +11.6% +15.1% NORTH AMERICA -18.6% -16.7% -12.4% -10.9% -2.7% +4.7% LATIN AMERICA +54.6% +26.4% +35.2% > 40%
Slide 55: Operating Performance
OPERATING PERFORMANCE P55
Slide 56: Q1 2024 Operating Performance
Q1 2024 OPERATING PERFORMANCE SUMMARY – VS LAST YEAR (REPORTED CURRENCY) PUMA GROUP Q1 2023 Q1 2024 DEVIATION SALES 2,187.7 2,102.3 -3.9% (in EUR M) (+0.5% ca) GROSS PROFIT 1,016.9 999.0 -1.8% (in EUR M/ % of Sales) (46.5%) (47.5%) (+1.0% pts) Q1 CURRENCY EFFECTS ↓ SOURCING PRICES FREIGHT PROMOTIONS
Slide 57: Q1 2024 Operating Performance
Q1 2024 OPERATING PERFORMANCE SUMMARY – VS LAST YEAR (REPORTED CURRENCY) PUMA GROUP Q1 2023 Q1 2024 DEVIATION SALES 2,187.7 2,102.3 -3.9% (in EUR M) (+0.5% ca) GROSS PROFIT 1,016.9 999.0 -1.8% (in EUR M/ % of Sales) (46.5%) (47.5%) (+1.0% pts) OPEX* -841.4 -840.0 +0.2% (in EUR M/ % of Sales) (-38.8%
Slide 58: Q1 2024 Operating Performance
Q1 2024 OPERATING PERFORMANCE SUMMARY – VS LAST YEAR (REPORTED CURRENCY) PUMA GROUP Q1 2023 Q1 2024 DEVIATION SALES 2,187.7 2,102.3 -3.9% (in EUR M) (+0.5% ca) GROSS PROFIT 1,016.9 999.0 -1.8% (in EUR M/ % of Sales) (46.5%) (47.5%) (+1.0% pts) OPEX* -841.4 -840.0 +0.2% (in EUR M/ % of Sales) (-38.8%
Slide 59: Balance Sheet KPIs
BALANCE SHEET KPIS VS LAST YEAR (IN EUR M, REPORTED CURRENCY) PUMA GROUP Q1 2023 Q1 2024 DEVIATION INVENTORIES 2,147.3 1,785.6 -16.8% TRADE RECEIVABLES 1,276.9 1,432.5 +12.2% TRADE PAYABLES 1,282.7 1,222.8 -4.7% WORKING CAPITAL 1,751.5 1,845.7 +5.4% P59
Slide 60: Sales & EBIT in Line with Expectations
SALES & EBIT IN LINE WITH EXPECTATIONS GROSS PROFIT MARGIN IMPROVEMENT HEALTHY INVENTORY LEVELS P60
Slide 61: Agenda
AGENDA 01. BRAND UPDATE Q1 2024 02. FINANCIAL UPDATE Q1 2024 03. OUTLOOK 2024
Slide 62: Sales & EBIT Outlook 2024
SALES & EBIT OUTLOOK 2024 Q1 2024 FULLY IN LINE WITH EXPECTATIONS FY 2023 OUTLOOK 2024 SALES 8,602 MID SINGLE-DIGIT GROWTH (IN EUR M) (CURRENCY-ADJUSTED) EBIT 622 BETWEEN 620 – 700 MILLION (IN EUR M / % OF NET SALES) (7.2%) P62
Slide 63: Continuing to Fuel Momentum in Performance
CONTINUING TO FUEL MOMENTUM IN PERFORMANCE WITH INNOVATION AND PRODUCT NEWNESS NEW PRODUCTS MAJOR LAUNCHING IN ALL ANNOUNCEMENTS SPORT CATEGORIES NEW PARTNERS ULTRA – MB.04 – DEVIATE NITRO – A LEADING ANOTHER A LEADING FASTEST BOOT FASTEST DESIGN FASTEST SHOE NATIONAL TEAM CHAMPIONS LEAGUE LEAGUE TE
Slide 64: Building Up Further Traction in Sportstyle
BUILDING UP FURTHER TRACTION IN SPORTSTYLE WITH DESIGN AND PRODUCT NEWNESS P64
Slide 65: Driving Brand Elevation
DRIVING BRAND ELEVATION THROUGH CONSISTENT INVESTMENT FURTHER GLOBAL BRAND MAJOR BRAND AMBASSADOR NEW SPORTSTYLE ELEVATED INFLUENCE STRATEGY CAMPAIGN ROLL-OUT ANNOUNCEMENTS COMMUNICATION STRATEGY P65
Slide 66: Best Team in the Industry
BEST TEAM IN THE INDUSTRY 0% COMPLACENCY P66
Slide 67: The Challenger
THE CHALLENGER FOREVER.FASTER.
Slide 68: Q&A
Q&A P68