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Puma figures below expectations - New cost-cutting program
Economy
Finance
Puma Group misses expectations; CEO Freundt announces efficiency program to increase the EBIT margin to 8.5%; The goal is a long-term 10% operating margin.
2025-01-23 05:40:11
Business
Economy
Puma's Strategic Shift for Improved Profitability
Puma is facing challenges as its 2024 earnings before interest and taxes (Ebit) remain stagnant, matching last year's figure of 622 million euros. Concurrently, the group's net income has declined from 305 to 282 million euros.
In response, the company has announced an efficiency program aimed at enhancing the Ebit margin to 8.5% for 2023, with an ambitious long-term goal of reaching 10%. The strategy focuses on optimizing personnel costs and prioritizing strategic growth areas.
Despite these hurdles, Puma's revenue for 2024 has shown a modest increase of 2.5%, while the preliminary Ebit margin for 2023 stands at 7.1%. These initiatives reflect Puma's commitment to improving financial performance in a competitive market.
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