These are good prospects for investors: Puma has named average expected growth of 10 percent from 2018 to 2022. And that's not all. The profitability targets are also ambitious.
The operating margin is to be increased to 10 percent over the next four years. At present it is just under 6 percent. The shareholders should also benefit somewhat from these successes. Puma plans to propose a dividend payment of between 25 and 35 percent of consolidated net earnings at the Annual General Meeting.
Puma's optimistic goals are also based on the success of the recent past. In 2017, Puma broke the four billion euro mark for the first time. Growth last year was 16 percent. Puma has once again focused its business more on sports products. In return, the fashion segment was scaled back again.
With its profit expectations, Puma is on a par with its competitor Adidas. The neighbor from Herzogenaurach also expects sales growth of 10 to 12 percent by 2020. Adidas even expects a margin of 11.5 percent.
Of course, Adidas, as the second largest sporting goods manufacturer after Nike, generates much higher sales. In 2017, this was five times the Puma value, at over 20 billion euros. At Nike, the figure in fiscal 2016/17 was around 30 billion euros.