彪马Puma SE（PUMG.DE）2025年年度报告「FWB」（英文版）（361页）.pdf

1、ANNUAL REPORT2025TO OUR SHAREHOLDERS 4CEO Letter 5Report of the Supervisory Board 7COMBINED MANAGEMENT REPORT 16THE FINANCIAL YEAR 2025 19The financial year 2025 at a glance 20PUMA group essential information 24Commercial activities and organisational structure 24Strategic priorities 24Product devel

2、opment and design 27Management system 28Economic report 30Economic conditions 30Sales development 31Results of operations 36Development of the segments 42Dividends and repurchase of treasury shares 44Net assets and financial position 46Cash flows 51Statement regarding the business development and th

3、e overall situation of the group 54Comments on the financial statements of PUMA SE in accordance with the german commercial code(German GAAP,HGB)56Results of operations 57Net assets 59Financial position 61Outlook 61SUSTAINABILITY STATEMENT 62General information 63Preamble 63Strategy,business model a

4、nd value chain(SBM-1)63Impact,risk,and opportunity management 66Governance 74Basis for preparation 79FELIX STRENG2Environmental information 87E1 Climate change 87E2 Pollution 111E3 Water and marine resources 119E4 Biodiversity and ecosystems 126E5 Resource use and circular economy 133EU Taxonomy Reg

5、ulation 145Social information 152S1 Own workforce 152S2 Workers in the value chain 169S4 Consumers and end-users 189Governance information 195G1 Business conduct 195GOVERNANCE&CONTROL 206Information concerning takeovers 207Corporate governance statement in accordance with 289f and 315d HGB 210Risk a

6、nd opportunity report 211Outlook report 227PUMA Annual Report 2025Table of ContentsTABLE OF CONTENTSCONSOLIDATED FINANCIAL STATEMENTS PUMA SE FOR THE FINANCIAL YEAR 2025 230Consolidated statement of financial position 231Consolidated income statement 233Consolidated statement of comprehensive income