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1、 1 Q2&H1 2025 PUMA reports sales decline in Q2 and lowers outlook Herzogenaurach,31 July 2025 Key developments Q2 2025 Currency-adjusted sales down by 2.0%to 1,942 million(-8.3%reported)Gross profit margin decreases by 70 basis points to 46.1%Operating expenses(OPEX)increase by 4.0%to 915 million Ad

2、justed EBIT,excluding one-time costs*,decreases to -13 million Reported EBIT at -98 million,including one-time costs of 85 million from the“nextlevel”cost efficiency programme and a goodwill impairment Lowered Outlook FY 2025 Currency-adjusted sales decline at low double-digit percentage rate(Previo

3、usly:Currency-adjusted sales growth at low-to mid-single digit percentage rate)For the EBIT(reported)we expect a loss(Previously:EBIT of 445 million to 525 million)CAPEX of around 250 million(Previously:300 million)Outlook includes implications from U.S.Tariffs based on information available as of 2

4、3 July 2025 2 Second Quarter 2025 Sales decreased currency-adjusted(ca)by 2.0%to 1,942.2 million.Currencies were a headwind,negatively impacting sales in euro terms by approximately 135 million in Q2 2025(-8.3%reported).Sales in the EMEA region decreased by 3.1%(ca)to 771.7 million,mainly driven by

5、a softer Europe.In the Americas region,sales decreased by 0.5%(ca)to 779.9 million due to a decline in North America,while Latin America recorded double-digit growth during the quarter.Sales in the Asia/Pacific region decreased 2.9%(ca)to 390.5 million,mainly reflecting ongoing softness in Greater C

6、hina.PUMAs Wholesale business decreased by 6.3%(ca)to 1,341.2 million,driven by softness in the U.S.,China and Europe.Our Direct-to-Consumer(DTC)business grew by 9.2%(ca)to 601.1 million,led by the e-commerce business which grew 19.4%(ca),while sales in owned&operated retail stores increased 3.4%(ca