Puma Se Unsp/Adr (PUMSY) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, thank you for standing by. Welcome and thank you for joining the Q1 2025 earnings call of Puma SC. Throughout today's recorded presentation, all participants will be in listen-only mode. The presentation will be followed by a question and answer session. If you would like to ask a question, you may press star followed by one on your touch-tent elephant. Please press the star key followed by zero for operator assistance. I would now like to turn the conference over to Gottfried Hoppe, Director, Investor Relations. Please go ahead. Thank you very much, Maura. Ladies and gentlemen, welcome to PUMA's Q1 2025 earnings call. Today, I'm joined by our Group CFO, Markus Neubrand. Markus will take you through a short presentation and then we will open up for the Q&A session. Now, let's kick it off and over to you, Markus. Thank you, Gottfried. Good afternoon also from my side. Before I guide you through the agenda of today's investor call, I would like to start with some opening remarks about the first quarter of 2025. Our overall financial results were broadly in line with expectations, with our sales and adjusted operating results slightly ahead of our expectations for Q1. Our sales achieved last year's level in constant currencies Our D2C business grew by 12%, led by e-commerce at 17%, while our wholesale business was down by 4%, primarily because of the US and China. Our US adjusted operating results amounted to 76 million euros. And we are pleased to report good progress on our next level cost efficiency program. Please note that the situation relating to the new US tariffs will be addressed at the end of the presentation. As you are aware, we are currently in a transition period. We would like to thank Arne for all his achievements, commitment and d...