Puma SE Chief Government Bjorn Gulden mentioned Wednesday that the coronavirus pandemic continues to be harming its provide chains whereas inflation is hurting prices and margins.
The German sporting-goods firm mentioned web revenue slipped to 7.9 million euros ($8.9 million) within the fourth quarter of 2021 from EUR24.7 million a 12 months earlier.
Gross sales climbed to EUR1.77 billion from EUR1.52 billion, whereas earnings earlier than curiosity and taxes rose barely to EUR65 million, according to preliminary figures from January.
Puma mentioned it could suggest a dividend of EUR0.72 a share for 2021, up from EUR0.16 a share for 2020.
“At first of 2022, Covid-19 is sadly nonetheless negatively affecting our provide chain, inflationary pressures are having a damaging influence on our prices and working margins and the geopolitical scenario stays very tense,” Mr. Gulden mentioned.
For 2022, Puma expects currency-adjusted gross sales progress of at the very least 10%, and EBIT of between EUR600 million and EUR700 million, and web revenue bettering accordingly.
Nevertheless, the corporate expects inflation from larger freight charges and raw-material costs, mixed with the pandemic, to dilute profitability in 2022.
This story has been revealed from a wire company feed with out modifications to the textual content
Supply: Live Mint