Kering : PUMA - Strong Sales and EBIT growth continues in the Second Quarter. Upgrade of the Full-Year Guidance for 2017

Herzogenaurach, July 26, 2017

2017 Second Quarter Facts

• Sales increase by 16% currency adjusted to € 969 million (+17% reported), with all regions showing double-digit growth and footwear being the main growth driver

• Gross profit margin up by 90 basis points to 46.5%

• OPEX increases by 11% caused by higher sales-related variable costs as well as higher marketing and retail investments

• Operating result (EBIT) improves to € 43 million (last year: € 12 million)

• Three major wins in football with Arsenal FC winning FA Cup, BVB Borussia Dortmund winning DFB cup and Chivas winning Mexican championship

• PUMA's new lacing technology NETFIT introduced across performance and sportstyle footwear

2017 Half-Year Facts

• Sales up by 16% currency adjusted to € 1,974 million (+18% reported) with double-digit growth in all regions

• Gross profit margin up 60 basis points at 46.8%

• Operating leverage with OPEX increasing only by 12%

• Operating result (EBIT) more than doubled from € 53 million last year to € 114 million

• Net earnings increase from € 27 million last year to € 72 million and earnings per share increase from € 1.84 last year to € 4.79 respectively

• Continued strong women business driven by BASKET HEART and FIERCE footwear styles

• Successful introduction of 'Run the Streets' with IGNITE Limitless and TSUGI footwear styles featuring R&B star and style icon The Weeknd

Bjørn Gulden, Chief Executive Officer of PUMA SE:

'In another positive quarter, we achieved double-digit growth in all regions and in both footwear and apparel. This combined with a good sell-through in retail and a good orderbook for the next quarters made us raise the outlook for the full year. We now expect a currency adjusted sales growth for the full year between 12% and 14% and a full-year EBIT between € 205 million and 215 million.'

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