Slide 1: Q4 / FY2024 Earnings Call
MARCH 12TH, 2025 Q4 / FY2024 EARNINGS CALL
Slide 2: Agenda
AGENDA Q4 / FY 2024 EARNINGS CALL 01. UPDATE ON BRAND ELEVATION STRATEGY 02. Q4 / FY 2024 FINANCIAL RESULTS 03. FY 2025 OUTLOOK 04. Q&A
Slide 3: Highest sales ever: 8.8BN EUR sales, 622M EUR EBIT
8.8BN EUR HIGHEST SALES EVER 2024 PROGRESS IN +4.4% VS LY C.A. 622M EUR EBIT +0.1% VS LY REP. 282M EUR NET INCOME -7.6% VS LY REP. 3
Slide 4: FY 2025 Outlook
BRAND ELEVATION STRATEGY FY 2025 BUILDING THE FOUNDATION FOR SUSTAINABLE AND ACCELERATED GROWTH OUTLOOK LAYING THE FOUNDATION FOR NEXTLEVEL PROGRAM FUTURE PROFITABLE GROWTH ADDRESSING COST BASE TO RETURN TO PROFITABLE GROWTH IN THE FUTURE SALES (C.A.) LOW- TO MID-SINGLE DIGIT GROWTH ADJUSTED EBIT BE
Slide 5: Update Brand Elevation Strategy
Q4 / FY 2024 EARNINGS CALL UPDATE BRAND ELEVATION STRATEGY
Slide 6: Brand Elevation as the Foundation for Sustainable and Accelerated Growth
OUR STRATEGY BRAND ELEVATION AS THE FOUNDATION FOR SUSTAINABLE AND ACCELERATED 6 GROWTH
Slide 7: Elevating Our Brand Will Lead to Success
HIGHER BRAND STRENGTH LEADS TO ELEVATING OUR HIGHER FULL PRICE REALIZATION BRAND WILL LEAD TO UNAIDED AWARENESS CORRELATES WITH MARKET SHARE DEVELOPMENT SUCCESS BRAND HEALTH IS THE FOUNDATION OF SUSTAINABLE GROWTH 7
Slide 8: Key Pillars of Brand Elevation
OUR STRATEGY KEY PILLARS OF BRAND ELEVATION DISTINCTIVE BY ESTABLISHING A BY STRENGTHENING OUR SPORT BY BECOMING RELEVANT IN STRATEGY BRAND DNA PERFORMANCE CREDIBILITY SPORTSTYLE PRIME FOCUS ON PEOPLE FIRST INVEST INTO OUR INFRASTRUCTURE PUSH SUSTAINABILITY FORWARD 8
Slide 9: Key Pillars of Brand Elevation
OUR STRATEGY KEY PILLARS OF BRAND ELEVATION DISTINCTIVE BY ESTABLISHING A BY STRENGTHENING OUR SPORT BY BECOMING RELEVANT IN STRATEGY BRAND DNA PERFORMANCE CREDIBILITY SPORTSTYLE PRIME FOCUS ON PEOPLE FIRST INVEST INTO OUR INFRASTRUCTURE PUSH SUSTAINABILITY FORWARD 9
Slide 10: We Started to Build the Foundation
ESTABLISHED A NEW CONSUMER-CENTRIC BRAND & MARKETING ORGANIZATION WE STARTED TO BUILD THE LAUNCHED THE FIRST BRAND CAMPAIGN FOUNDATION IN 10 YEARS IN 2024 SHARPENED OUR BRAND DNA AND POSITIONING BASED ON CONSUMER INSIGHTS 10
Slide 11: First Indications of Brand Health Improving Across Key Markets
FIRST INDICATIONS OF BRAND HEALTH IMPROVING ACROSS KEY MARKETS HIGHER UNAIDED +7.1% FOLLOWERS TOP 3 SHARE AWARENESS VS 2023 VS 2023 OF VOICE INSTAGRAM & TIKTOK EARNED MEDIA - INDICATIVE BEST PRACTICE EXAMPLES – > 5%PTS INCREASE INCREASE Q4/2024 VS Q1/2024 11 < 5%PTS INCREASE
Slide 12: The Sharpened Brand DNA of PUMA
INTRODUCING IN 2025 THE SHARPENED BRAND DNA OF PUMA BASED ON UNIVERSAL INSIGHTS FROM 10,000 CONSUMERS 12
Slide 13: True Self Belief
TRUE SELF BELIEF The research tells us… Differentiated and unreplicable POV. WHAT TRULY MATTERS FOR PEOPLE GREATNESS BEGINS WITH IN SPORTS PERFORMANCE AND SPORTSTYLE THE COURAGE TO BE YOURSELF. IS TO BE THEIR TRUE SELF. 13
Slide 14: Brand Campaign 2025
INTRODUCING OUR NEW CREATIVE DIRECTION 2025 BRAND CAMPAIGN LAUNCHING ON MARCH 20TH, 2025 14
Slide 15: Strong Global Test Results
STRONG STAR Predicts market GLOBAL TEST EXCEPTIONAL EXCEPTIONAL STRONG share growth SPIKE RESULTS Indicates sales EXCEPTIONAL EXCEPTIONAL EXCEPTIONAL potential INCREASED MEDIA SPEND PLANNED FLUENCY Indicates strength of STRONG STRONG GOOD brand recognition GREAT FEEDBACK OF CORE MEDIA AUDIENCE (18-3
Slide 16: Elevating the Brand at Point-of-Sale
ELEVATING THE BRAND AT POINT-OF-SALE OPENED IN NOV 2024 TO BE OPENED IN OCTOBER 2025 CONTINUED FOCUS ON POS EXELLENCE FLAGSHIP STORE FLAGSHIP STORE WHOLESALE LAS VEGAS LONDON POINT-OF-SALE 16
Slide 17: Key Pillars of Brand Elevation
OUR STRATEGY KEY PILLARS OF BRAND ELEVATION DISTINCTIVE BY ESTABLISHING A BY STRENGTHENING OUR SPORT BY BECOMING RELEVANT IN STRATEGY BRAND DNA PERFORMANCE CREDIBILITY SPORTSTYLE PRIME FOCUS ON PEOPLE FIRST INVEST INTO OUR INFRASTRUCTURE PUSH SUSTAINABILITY FORWARD 17
Slide 18: Very Good Progress in Performance
VERY GOOD PROGRESS IN PERFORMANCE MARKET SHARE GAIN IN IMPROVING QUALITY OF SALES WITH ALL KEY CATEGORIES HIGHER PERFORMANCE SHARE AC24 SALES VS LY (IN %) FOOTBALL ROAD RUNNING (SIGNATURE) - ILLUSTRATIVE - BASKETBALL 7.6% 4.4% 19% MARKET SHARE #9 POSITION TOP 3 POSITION +1%PTS VS. LY +1 POSITION VS.
Slide 19: Strong Product Innovation
FUTURE 7 PROGRESS IN 2024 DRIVEN BY STRONG PRODUCT INNOVATION ACROSS ALL PERFORMANCE CATEGORIES 19 ALL-PRO NITRO DEVIATE NITRO ELITE 3
Slide 20: Supporting Personal Bests
JULIEN ALFRED FIONA O´KEEFFE 100M OLYMPIC GOLD FASTEST US WOMAN MEDALLIST PARIS 2024 PROGRESS IN 2024 DRIVEN BY SUPPORTING MONDO DUPLANTIS MEN’S EUROPEAN ATHLETE OF THE YEAR PERSONAL BESTS IN MAJOR COMPETITIONS CODY GAKPO TOP GOAL SCORER AT THE EUROS 2024 MAC McCLUNG THREE-IN-A-ROW DUNK CONTEST WINN
Slide 21: Showing Up Strong at Point-of-Sale
SHOWING UP STRONG AT POINT-OF-SALE 21
Slide 22: Further Strengthen Our Performance Credibility in 2025
OUR GAMEPLAN FURTHER STRENGTHEN OUR PERFORMANCE CREDIBILITY IN 2025 22
Slide 23: Launching Innovation with Football
FOOTBALL LAUNCHING INNOVATION WITH FUTURE 8 AT WORLD STAGES 23
Slide 24: Growing Momentum with Nitro
RUNNING GROWING MOMENTUM WITH NITRO DEVIATE 3 FOR RACE DAY AND EVERYDAY RUNNING FOREVERRUN 2 2020 2021 2022 2023 2024 PUMA NITRO: (Weltweit) PUMA NITRO 24 Based on Global Trend Search – Illustrative Chart
Slide 25: Tackling Our Opportunity in Training
TACKLING OUR OPPORTUNITY IN TRAINING 74 RACES WITH OVER 500K PARTICIPANTS 25
Slide 26: Elevating Our Game Further
BASKETBALL MB.05 ELEVATING OUR GAME FURTHER WITH KEY FRANCHISES TYRESE HALIBURTON 26 SALEHE BEMBURY NEW SIGNATURE SHOE
Slide 27: Key Pillars of Brand Elevation
OUR STRATEGY KEY PILLARS OF BRAND ELEVATION DISTINCTIVE BY ESTABLISHING A BY STRENGTHENING OUR SPORT BY BECOMING RELEVANT IN STRATEGY BRAND DNA PERFORMANCE CREDIBILITY SPORTSTYLE PRIME FOCUS ON PEOPLE FIRST INVEST INTO OUR INFRASTRUCTURE PUSH SUSTAINABILITY FORWARD 27
Slide 28: Building Foundation of Our Success in Sportstyle
BUILDING FOUNDATION OF OUR SUCCESS IN SPORTSTYLE SELECT HYPE & HEAT … PRIME TREND-BASED OPPORTUNITY … CORE PRICE-VALUE OPPORTUNITY … COMMERCIAL TREND & HEAT OPPORTUNITY BUILDING 28
Slide 29: Building Foundation of Our Success in Sportstyle
BUILDING FOUNDATION OF OUR SUCCESS IN SPORTSTYLE SELECT HYPE & HEAT STRONG GROWTH PRIME TREND-BASED OPPORTUNITY IN TRANSITION CORE PRICE-VALUE OPPORTUNITY ONGOING MOMENTUM COMMERCIAL TREND & HEAT OPPORTUNITY BUILDING 29
Slide 30: Three Pillar Strategy to Win in Sportstyle Prime
THREE PILLAR STRATEGY TO WIN IN SPORTSTYLE PRIME PRODUCT STRATEGY GO-TO-MARKET STRATEGY MARKETING STRATEGY AUTHENTIC PRODUCT WITH CREATING DEMAND BEFORE FOCUSING ON INFLUENCE DISTINCTIVE PUMA DNA COMMERCIALIZATION STRATEGY 30
Slide 31: Focused on Further Building Up Availability in Prime
AVAILABILITY IN PRIME FOCUSED ON FURTHER BUILDING UP SPEEDCAT KEY PRIORITY FOR 2025 SUPPORTED BY GLOBAL AMBASSADORS 31 ROSÉ DUA LIPA
Slide 32: Demand Is Further Building Up
DEMAND CONTINUES TO BUILD UP MONTH-OVER-MONTH DEMAND IS FURTHER DIFFERENT STAGES OF TREND CURVE GLOBAL KEY CITIES AND REGION ASIA BUILDING UP CURRENTLY LEADING RISING CONSUMER INTEREST FOR SPEEDCAT SPEEDCAT BALLET LAUNCH CONFIRMS CONSUMER INTEREST IN LOW PROFILE TREND PUMA X 32
Slide 33: Strong Addition with Launch of Speedcat Ballet
STRONG ADDITION WITH LAUNCH OF SPEEDCAT BALLET SEEDED AT SOLD OUT IN COPENHAGEN SELECT ACCOUNTS FASHION WEEK 33
Slide 34: Authentic Products with a Distinctive PUMA DNA for All Trends
AUTHENTIC PRODUCTS WITH A DISTINCTIVE PUMA DNA FOR ALL TRENDS CREATE ON TREND MAXIMIZE THE TREND ON TIME TRENDS INCUBATE IGNITE MAXIMIZE H-STREET RUNNING MOSTRO SPEEDCAT PALERMO SUEDE XL FOOTBALL 34
Slide 35: Making Progress in Key Focus Markets
MAKING PROGRESS IN KEY FOCUS MARKETS RETURNED TO GROWTH IMPROVED RANK IN MARKETPLACE IN H2 2024 BY +1 POSITION STRENGTHENED BRAND INCREASED CONSUMER RELEVANCE BRAND AWARENESS > +5%PTS VS 2023 ON LEADING SOCIAL MEDIA PLATFORMS UP TO +150% 35 OPENED NEW FLAGSHIP STORE INTRODUCED NEW RETAIL FORMAT IN L
Slide 36: Key Pillars of Brand Elevation
OUR STRATEGY KEY PILLARS OF BRAND ELEVATION DISTINCTIVE BY ESTABLISHING A BY STRENGTHENING OUR SPORT BY BECOMING RELEVANT IN STRATEGY BRAND DNA PERFORMANCE CREDIBILITY SPORTSTYLE PRIME FOCUS ON PEOPLE FIRST INVEST INTO OUR INFRASTRUCTURE PUSH SUSTAINABILITY FORWARD 36
Slide 37: Sustainability Targets
SUSTAINABILITY TARGETS 22 OUT OF 28 TARGETS ACHIEVED ACHIEVED 10 10 ON TRACK Targets for TARGETS FOR KEY HIGHLIGHTS 2025 2025 CO2 EMISSION FROM PUMA’S OWN SITES REDUCED BY 86% SINCE 2017, MANUFACTURING GOODS BY 17% 90% OF ALL PRODUCTS MADE WITH CERTIFIED OR RECYCLED MATERIALS (PUMA S-INDEX) NO ZERO
Slide 38: Great External Recognition
GREAT EXTERNAL RECOGNITION PUMA PUMA HIGHEST RATING PUMA A TOP EMPLOYER PUMA AMONG TOP5 PUMA AMONG PUMA 8TH PUMA PUMA INDUSTRY LEADERS CONSTITUENTS (OUT OF 123) LEADING LEVEL LEVEL 1 Ethical Fashion Factory Chemical Human Resources ESG Score ESG Score ESG Score Australia Climate Preferred Materials
Slide 39: New 2030 Targets Introduced
NEW 2030 TARGETS INTRODUCED 2025 2030 10 TARGETS FOR 2025 VALIDATED WITH EXTERNAL STAKEHOLDERS 39
Slide 40: Wrap Up Brand Elevation
Q4 / FY 2024 FIRST PROGRESS OF WRAP UP BRAND STRENGTH IMPROVING IN KEY MARKETS BRAND IMPROVING SALES QUALITY BY ELEVATION STRONGER GROWTH IN PERFORMANCE CATEGORIES STRATEGY UPDATE PROGRESS IN TRANSITION FOUNDATION TO RETURN BACK TO GROWTH IN SPORTSTYLE PRIME 40
Slide 41: Thank You PUMA Family!
BEST TEAM IN THE INDUSTRY THANK YOU PUMA FAMILY! 41
Slide 42: Q4 / FY 2024 Financial Results
Q4 / FY 2024 EARNINGS CALL Q4 / FY 2024 FINANCIAL RESULTS
Slide 43: Q4 2024 Sales Breakdown
Q4 2024 SALES BREAKDOWN SALES VS LAST YEAR (IN %, CURRENCY ADJUSTED) BY CHANNEL BY DIVISION BY REGION WHOLESALE +6.9% TOTAL DTC +16.1% FOOTWEAR +9.2% EMEA +14.6% North America BRICK & MORTAR +12.8% APPAREL +8.8% AMERICAS +6.5% +2.4% Greater China E-COM +22.0% ACCESSORIES +14.5% APAC +9.5% +6.7% TOTA
Slide 44: YTD 2024 Sales Breakdown
YTD 2024 SALES BREAKDOWN SALES VS LAST YEAR (IN %, CURRENCY ADJUSTED) BY CHANNEL BY DIVISION BY REGION WHOLESALE +0.4% TOTAL DTC +16.6% FOOTWEAR +5.4% EMEA +2.1% North America BRICK & MORTAR +14.2% APPAREL +3.7% AMERICAS +7.0% +1.8% Greater China E-COM +21.1% ACCESSORIES +2.0% APAC +3.8% +5.6% TOTAL
Slide 45: Sales Breakdown by Quarter
SALES BREAKDOWN BY QUARTER QUARTERLY SALES BY MARKET* VS LAST YEAR (IN %, CURRENCY ADJUSTED) Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 EEA +23.4% +9.0% -1.4% -9.2% -3.5% +2.7% +2.2% +10.5% EEMEA +33.5% +111.4% +63.6% +11.6% +15.1% -23.2% -3.8% +26.7% NORTH AMERICA -18.6% -16.7%
Slide 46: Operating Performance
OPERATING Sa i - ROI yy | : \ 3 = = Nigel ay
Slide 47: Q4 2024 Operating Performance
Q4 2024 OPERATING PERFORMANCE SUMMARY – VS LAST YEAR (IN EUR M, REPORTED CURRENCY) PUMA GROUP Q4 2023 Q4 2024 DEVIATION SALES 1,982.2 2,289.4 +15.5% +9.8% ca GROSS PROFIT 931.1 1,082.9 +16.3% % of Sales 47.0% 47.3% +0.3% pts 47
Slide 48: Q4 2024 Operating Performance
Q4 2024 OPERATING PERFORMANCE SUMMARY – VS LAST YEAR (IN EUR M, REPORTED CURRENCY) PUMA GROUP Q4 2023 Q4 2024 DEVIATION SALES 1,982.2 2,289.4 +15.5% +9.8% ca GROSS PROFIT 931.1 1,082.9 +16.3% % of Sales 47.0% 47.3% +0.3% pts Q1 Q2 Q3 Q4 CURRENCY EFFECTS ↓ ↓ SOURCING PRICES FREIGHT PROMOTIONS IMPACT
Slide 49: Q4 2024 Operating Performance
Q4 2024 OPERATING PERFORMANCE SUMMARY – VS LAST YEAR (IN EUR M, REPORTED CURRENCY) PUMA GROUP Q4 2023 Q4 2024 DEVIATION SALES 1,982.2 2,289.4 +15.5% +9.8% ca GROSS PROFIT 931.1 1,082.9 +16.3% % of Sales 47.0% 47.3% +0.3% pts OPEX -848.0 -982.2 -15.8% % of Sales -42.8% -42.9% -0.1% pts 49
Slide 50: Q4 2024 Operating Performance
Q4 2024 OPERATING PERFORMANCE SUMMARY – VS LAST YEAR (IN EUR M, REPORTED CURRENCY) PUMA GROUP Q4 2023 Q4 2024 DEVIATION SALES 1,982.2 2,289.4 +15.5% +9.8% ca GROSS PROFIT 931.1 1,082.9 +16.3% % of Sales 47.0% 47.3% +0.3% pts OPEX -848.0 -982.2 -15.8% % of Sales -42.8% -42.9% -0.1% pts Q1 Q2 Q3 Q4 MA
Slide 51: Q4 2024 Operating Performance
Q4 2024 OPERATING PERFORMANCE SUMMARY – VS LAST YEAR (IN EUR M, REPORTED CURRENCY) PUMA GROUP Q4 2023 Q4 2024 DEVIATION SALES 1,982.2 2,289.4 +15.5% +9.8% ca GROSS PROFIT 931.1 1,082.9 +16.3% % of Sales 47.0% 47.3% +0.3% pts OPEX -848.0 -982.2 -15.8% % of Sales -42.8% -42.9% -0.1% pts EBIT 94.4 108.
Slide 52: FY 2024 Operating Performance
FY 2024 OPERATING PERFORMANCE SUMMARY – VS LAST YEAR (IN EUR M, REPORTED CURRENCY) PUMA GROUP YTD 2023 YTD 2024 DEVIATION SALES 8,602.0 8,817.2 +2.5% +4.4% ca GROSS PROFIT 3,986.6 4,177.9 +4.8% % of Sales 46.3% 47.4% +1.0% pts 52
Slide 53: FY 2024 Gross Margin Drivers
FY 2024 GROSS MARGIN DRIVERS GROSS PROFIT DEVELOPMENT DRIVERS (REPORTED CURRENCY / AS % OF SALES) DTC SALES AS 24.8% +2.7%PTS 27.5% % OF GROUP FY 2024 +1.0%PTS CURRENCY EFFECTS 47.4% 46.3% SOURCING PRICES FREIGHT PROMOTIONS IMPACT PRODUCT MIX CHANNEL MIX REGIONAL MIX AC 2023 CURRENCY EFFECTS UNDERLY
Slide 54: FY 2024 Operating Performance
FY 2024 OPERATING PERFORMANCE SUMMARY – VS LAST YEAR (IN EUR M, REPORTED CURRENCY) PUMA GROUP YTD 2023 YTD 2024 DEVIATION SALES 8,602.0 8,817.2 +2.5% +4.4% ca GROSS PROFIT 3,986.6 4,177.9 +4.8% % of Sales 46.3% 47.4% +1.0% pts OPEX -3,403.5 -3,580.2 -5.2% % of Sales -39.6% -40.6% -1.0% pts 54
Slide 55: FY 2024 Opex Ratio Drivers
FY 2024 OPEX RATIO DRIVERS OPEX DEVELOPMENT DRIVERS (REPORTED CURRENCY / AS % OF SALES) DTC SALES AS 24.8% +2.7%PTS 27.5% % OF GROUP +1.0%PTS 40.6% FY 2024 39.6% MARKETING IMPACT ON OPEX % CHANNEL MIX OTHER OPEX TOTAL AC 2023 CURRENCY EFFECTS UNDERLYING INCREASE AC 2024 55
Slide 56: FY 2024 Operating Performance
FY 2024 OPERATING PERFORMANCE SUMMARY – VS LAST YEAR (IN EUR M, REPORTED CURRENCY) PUMA GROUP YTD 2023 YTD 2024 DEVIATION SALES 8,602.0 8,817.2 +2.5% +4.4% ca GROSS PROFIT 3,986.6 4,177.9 +4.8% % of Sales 46.3% 47.4% +1.0% pts OPEX -3,403.5 -3,580.2 -5.2% % of Sales -39.6% -40.6% -1.0% pts EBIT 621.
Slide 57: FY 2024 EBIT Drivers
FY 2024 EBIT DRIVERS EBIT DEVELOPMENT DRIVERS (REPORTED CURRENCY / AS % OF SALES) +0.1% -0.1%PTS 7.2% 7.1% 621.6 622.0 CURRENCY HEADWINDS ARE OFFSET BY UNDERLYING IMPROVEMENT AC 2023 CURRENCY EFFECTS UNDERLYING IMPROVEMENT AC 2024 57
Slide 58: FY 2024 Operating Performance
FY 2024 OPERATING PERFORMANCE SUMMARY – VS LAST YEAR (IN EUR M, REPORTED CURRENCY) PUMA GROUP YTD 2023 YTD 2024 DEVIATION SALES 8,602.0 8,817.2 +2.5% +4.4% ca GROSS PROFIT 3,986.6 4,177.9 +4.8% % of Sales 46.3% 47.4% +1.0% pts OPEX -3,403.5 -3,580.2 -5.2% % of Sales -39.6% -40.6% -1.0% pts EBIT 621.
Slide 59: FY 2024 Operating Performance
FY 2024 OPERATING PERFORMANCE SUMMARY – VS LAST YEAR (IN EUR M, REPORTED CURRENCY) PUMA GROUP YTD 2023 YTD 2024 DEVIATION SALES 8,602.0 8,817.2 +2.5% +4.4% ca EBIT 621.6 622.0 +0.1% % of Sales 7.2% 7.1% -0.1% pts FINANCIAL RESULT -143.3 -159.7 -11.4% % of Sales -1.7% -1.8% -0.1% pts Tax rate: TAX RE
Slide 60: Inventories at Adequate Levels
INVENTORIES AT ADEQUATE LEVELS IN EUR M / IN % OF SALES (LAST 12 MONTHS), REPORTED CURRENCY +11.6% REPORTED CURRENCY 2.245 +12.1% CURRENCY ADJUSTED 2.147 2.146 1.961 2.014 1.874 1.804 1.786 1.811 GOODS IN INVENTORY % OF SALES TRANSIT 26.5% 24.6% 24.2% 23.0% 22.8% 21.3% 21.0% 21.0% 21.3% ON HAND Q4 2
Slide 61: Working Capital
WORKING CAPITAL VS LAST YEAR (IN EUR M, REPORTED CURRENCY) PUMA GROUP 31 DEC 2023 31 DEC 2024 DEVIATION INVENTORIES 1,804.4 2,013.7 +11.6% TRADE RECEIVABLES 1,118.4 1,246.5 +11.5% TRADE PAYABLES 1,499.8 1,893.5 +26.2% OPERATING WORKING CAPITAL 1,423.0 1,366.7 -4.0% WORKING CAPITAL 1,177.3 1.278.2 +8
Slide 62: FY 2024 Capex – Investments for Future Growth
FY 2024 CAPEX – INVESTMENTS FOR FUTURE GROWTH IN EUR M, REPORTED CURRENCY OTHERS INVESTMENTS FOCUSED ON… DIGITAL DTC OWNED & OPERATED RETAIL STORES EUR 263M WAREHOUSE DIGITAL INFRASTRUCTURE …TO ENABLE FUTURE GROWTH LOGISTICS 62
Slide 63: Free Cash Flow and Net Borrowings Development
FREE CASH FLOW AND NET BORROWINGS DEVELOPMENT VS LAST YEAR (IN EUR M, REPORTED CURRENCY) FY 2024 FREE CASH FLOW NET BORROWINGS FINANCING STRUCTURE EUR 1.360M EUR 464M EUR 120M (+95M VS. LY) (+101M VS. LY) UNUTILIZED CREDIT LINES (+ 290M VS. LY) ENHANCED FOCUS ON ORGANIC DECREASE MAINLY DUE TO SHARE
Slide 64: Total Payout 2024 and Proposal for the Dividend
TOTAL PAYOUT 2024 IN EUR M, REPORTED CURRENCY & PROPOSAL FOR THE DIVIDEND NET 304.9 281.6 INCOME +14.6% 140.8 FY 2023 FY 2024 122.9 SHARE BUYBACK 50.0 SHARES OUTSTANDING 149,844,544 148,824,413 PAYOUT RATIO DIVIDEND PAYOUT RATIO 50.0% DIVIDEND PER SHARE 0.82 0.61* 122.9 40.3% DIVIDEND 90.8* PAYOUT P
Slide 65: NextLevel Program Initiated
NEXTLEVEL PROGRAM INITIATED COMPLEMENTING OUR BRAND ELEVATION STRATEGY WITH A COST EFFICIENCY PROGRAM BRAND ELEVATION STRATEGY NEXTLEVEL PROGRAM FOR SUSTAINABLE AND TO TRANSLATE GROWTH INTO ACCELERATED GROWTH INCREMENTAL PROFITABILITY TO 8.5% EBIT MARGIN BY 2027 65
Slide 66: Key Building Blocks for Cost Efficiency
KEY BUILDING BLOCKS FOR COST EFFICIENCY CLEAR TARGET TO REACH 8.5% EBIT MARGIN BY 2027 IMPROVE GROSS- DECREASE IMPROVE FREE PROFIT MARGIN OPEX RATIO CASH FLOW LOGISTICS PRICING / PROMOTIONS IT RETURN ON CAPITAL EMPLOYED FOB IMPROVEMENT MARKETING CASH CONVERSION CYCLE PRODUCT COMPLEXITY REDUCTION RET
Slide 67: FY 2025 Outlook
FY 2025 SALES (CURRENCY ADJUSTED) LOW- TO MID-SINGLE DIGIT GROWTH OUTLOOK ADJUSTED EBIT (BEFORE ONE-TIME COSTS) ASSUMPTIONS: BETWEEN EUR 520M – 600M VOLATILE MARKET ENVIRONMENT ONE-TIME COSTS (RELATED TO NEXTLEVEL COST CURRENCY TRANSLATION HEADWINDS EFFICIENCY PROGRAM) OF APPROX. 1.5%PTS (EUR/USD 1.
Slide 68: Outlook 2025 – Gross Profit Margin
OUTLOOK 2025 – GROSS PROFIT MARGIN GROSS PROFIT MARGIN DRIVERS (AS % OF SALES) ILLUSTRATIVE GRAPH ASSUMPTIONS FY 2025 CURRENCY EFFECTS 47.4% SOURCING PRICES FREIGHT PROMOTIONS IMPACT PRODUCT MIX CHANNEL MIX AC 2024 CURRENCY EFFECTS CHANNEL MIX OTHER EFFECTS* OUTLOOK REGIONAL MIX 2025 TOTAL *INCL. NE
Slide 69: Outlook 2025 – Opex
OUTLOOK 2025 – OPEX OPEX DRIVERS (AS % OF SALES) ILLUSTRATIVE GRAPH ASSUMPTIONS FY 2025 40.6% MARKETING IMPACT ON OPEX % CHANNEL MIX OTHER OPEX TOTAL AC 2024 CURRENCY EFFECTS CHANNEL MIX INFRA- STRUCTURE OTHER EFFECTS NEXTLEVEL CONTRIBUTION OUTLOOK 2025 69
Slide 70: Outlook 2025 – Adjusted EBIT
OUTLOOK 2025 – ADJUSTED EBIT EBIT DRIVERS (IN M EUR) ILLUSTRATIVE GRAPH 600 TO 520 622.0 AC 2024 CURRENCY INFRASTRUCTURE NEXTLEVEL OUTLOOK 2025 EFFECTS & OTHER CONTRIBUTION ADJUSTED EBIT 70
Slide 71: Laying the Foundation in 2025 for Future Profitable Growth
LAYING THE FOUNDATION IN 2025 FOR FUTURE PROFITABLE NEXTLEVEL COST EFFICIENCY PROGRAM GROWTH BRAND ELEVATION STRATEGY DECISIVE ACTIONS TO ADDRESS COSTS INVESTMENT INTO THE BRAND IMPROVE ORGANIC CASH FLOW LAUNCH OF INNOVATIVE PRODUCTS INFRASTRUCTURE FOR GROWTH 71
Slide 72: Q4 / FY 2024 Earnings Call Q&A
Q4 / FY 2024 EARNINGS CALL Q&A