Slide 1: Preliminary Results Q2 / H1 2025 Call
PRELIMINARY RESULTS Q2 / H1 2025 CALL 25 JULY 2025
Slide 2: Cautionary Statements Regarding Forward-Looking Information
CAUTIONARY STATEMENTS REGARDING FORWARD- LOOKING INFORMATION THIS PRESENTATION MAY CONTAIN FORWARD-LOOKING STATEMENTS BASED ON CURRENT ASSUMPTIONS AND FORECASTS MADE BY THE PUMA MANAGEMENT. VARIOUS KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS COULD LEAD TO MATERIAL DIFFERENCES BETWEEN TH
Slide 3: Preliminary Q2 / H1 2025 Results: Sales vs Last Year
PRELIMINARY Q2 / H1 2025 RESULTS SALES VS LAST YEAR (IN %, CURRENCY ADJUSTED) Q2 2025 H1 2025 1,942 M EUR 4,018 M EUR (-2.0% vs. LY) (-1.0% vs. LY) Q2 / H1 2025 PRELIMINARY RESULTS
Slide 4: Sales Breakdown by Quarter
SALES BREAKDOWN BY QUARTER QUARTERLY SALES BY MARKET VS LAST YEAR (IN %, CURRENCY ADJUSTED) Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 EEA -3.5% +2.7% +2.2% +10.5% +1.0% -3.9% EEMEA +15.1% -23.2% -3.8% +26.7% +21.2% +0.5% NORTH AMERICA -2.7% +1.3% +6.1% +2.4% -11.1% -9.1% LATIN AMERICA +7.8% +2
Slide 5: Q2 2025 Sales Breakdown
PRELIMINARY Q2 2025 SALES BREAKDOWN SALES VS LAST YEAR (IN %, CURRENCY ADJUSTED) BY REGION BY CHANNEL BY DIVISION EMEA -3.1% WHOLESALE -6.3% FOOTWEAR +5.1% AMERICAS -0.5% TOTAL DTC +9.2% APPAREL -10.7% APAC -2.9% BRICK & MORTAR +3.4% ACCESSORIES -6.4% E-COM +19.4% TOTAL: -2.0% TOTAL: -2.0% TOTAL: -2
Slide 6: Q2 2025 Operating Performance
PRELIMINARY Q2 2025 OPERATING PERFORMANCE VS LAST YEAR (IN EUR M, REPORTED CURRENCY) PUMA GROUP Q2 2024 Q2 2025 DEVIATION SALES 2,117.3 1,942.2 -8.3% (In EUR M) (-2.0% ca) GROSS PROFIT 990.6 894.7 -9.7% (% of Sales) (46.8%) (46.1%) (-0.7% pts) Q2 / H1 2025 PRELIMINARY RESULTS
Slide 7: Q2 2025 Operating Performance Impact
PRELIMINARY Q2 2025 OPERATING PERFORMANCE VS LAST YEAR (IN EUR M, REPORTED CURRENCY) PUMA GROUP Q2 2024 Q2 2025 DEVIATION SALES 2,117.3 1,942.2 -8.3% (In EUR M) (-2.0% ca) GROSS PROFIT 990.6 894.7 -9.7% (% of Sales) (46.8%) (46.1%) (-0.7% pts) CURRENCY EFFECTS SOURCING PRICES FREIGHT IMPACT PROMOTIO
Slide 8: Q2 2025 Operating Performance
PRELIMINARY Q2 2025 OPERATING PERFORMANCE VS LAST YEAR (IN EUR M, REPORTED CURRENCY) PUMA GROUP Q2 2024 Q2 2025 DEVIATION SALES 2,117.3 1,942.2 -8.3% (In EUR M) (-2.0% ca) GROSS PROFIT 990.6 894.7 -9.7% (% of Sales) (46.8%) (46.1%) (-0.7% pts) ADJ. EBIT 117.2 -13.2 -111.3% (% of Sales) (5.5%) (-0.7%
Slide 9: Sector and Company Challenges
BRAND MOMENTUM SECTOR AND COMPANY CHANNEL MIX AND QUALITY CHALLENGES SIGNIFICANT IMPACT ON OUR PERFORMANCE U.S. TARIFFS ELEVATED INVENTORIES Q2 / H1 2025 PRELIMINARY RESULTS
Slide 10: Sector and Company Challenges
BRAND MOMENTUM SECTOR AND COMPANY CHANNEL MIX AND QUALITY CHALLENGES SIGNIFICANT IMPACT ON OUR PERFORMANCE U.S. TARIFFS ELEVATED INVENTORIES Q2 / H1 2025 PRELIMINARY RESULTS
Slide 11: U.S. Tariff Implications
ADDRESSING U.S. TARIFFS: UPDATE ON KEY MITIGATION INITIATIVES U.S. TARIFF IMPLICATIONS SUPPLY CHAIN OPTIMIZATION APPROX. 20% OF TOTAL GROUP SALES GENERATED IN THE U.S. LEADING TO A MITIGATED NEGATIVE IMPACT ON PRICING STRATEGY GROSS PROFIT OF AROUND € 80 MILLION IN FY25 1) 1) BASED ON INFORMATION AV
Slide 12: Elevated Inventory Levels
ELEVATED INVENTORY LEVELS IN EUR M / IN % OF SALES (LAST 12 MONTHS), REPORTED CURRENCY +9.7% REPORTED CURRENCY +18.3% CURRENCY ADJUSTED 2.151 INVENTORY IN % OF SALES (LAST 12 MONTH) 2.076 25.0% NET INVENTORY IN EUR MILLION 2.014 1.961 22.8% 23.6% 23.0% 21.3% 21.0% 1.811 1.786 Q1 2024 Q2 2024 Q3 2024
Slide 13: Lowered FY 2025 Outlook
SALES (CURRENCY ADJUSTED) LOWERED LOW DOUBLE-DIGIT DECLINE PREVIOUSLY: LOW-TO MID-SINGLE DIGIT GROWTH FY 2025 EBIT EXPECT A LOSS OUTLOOK PREVIOUSLY: BETWEEN EUR 445M –525M CAPEX ASSUMPTIONS AROUND EUR 250M VOLATILE MARKET ENVIRONMENT PREVIOUSLY: AROUND EUR 300M CURRENCY TRANSLATION HEADWINDS OF APPR
Slide 14: Warm Welcome to the Brand: Arthur Hoeld, New CEO
WARM WELCOME TO THE BRAND ARTHUR HOELD NEW CEO AS OF 01 JULY 2025 Q2 / H1 2025 PRELIMINARY RESULTS
Slide 15: Q&A
Q&A
Slide 16: Appendix
APPENDIX
Slide 17: H1 2025 Sales Breakdown
PRELIMINARY H1 2025 SALES BREAKDOWN SALES VS LAST YEAR (IN %, CURRENCY ADJUSTED) BY REGION BY CHANNEL BY DIVISION EMEA +1.2% WHOLESALE -4.9% FOOTWEAR +3.7% AMERICAS -1.6% TOTAL DTC +10.5% APPAREL -6.3% APAC -3.8% BRICK & MORTAR +6.0% ACCESSORIES -6.1% E-COM +18.4% TOTAL: -1.0% TOTAL: -1.0% TOTAL: -1
Slide 18: H1 2025 Operating Performance
PRELIMINARY H1 2025 OPERATING PERFORMANCE VS LAST YEAR (IN EUR M, REPORTED CURRENCY) PUMA GROUP H1 2024 H1 2025 DEVIATION SALES 4,219.6 4,018.2 -4.8% (In EUR M) (-1.0% ca) GROSS PROFIT 1,989.6 1,869.7 -6.0% (% of Sales) (47.2%) (46.5%) (-0.6% pts) ADJ. EBIT 276.2 62.5 -77.4% (% of Sales) (6.5%) (1.6