EANS-News: PUMA's 2012 Sales meet Expectations - Transformation and Cost Reduction Program impact Profitability

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Financial Figures/Balance Sheet

Herzogenaurach (euro adhoc) - PUMA's 2012 Sales meet Expectations

Transformation and Cost Reduction Program impact Profitability

Herzogenaurach, February 14, 2013

2012 Fourth Quarter Highlights

- PUMA's consolidated sales climb by 11.7% in Euro terms to EUR 804.7
million.
- Gross profit margin declines to 44.6% due to inventory clearance.
- EBIT before special items falls slightly to EUR 42.8 million.
- Special items of EUR 98.2 million booked in the quarter.
- Net earnings come in at EUR -42.6 million, impacted by special items.

2012 Full Year Highlights

- PUMA's full year consolidated sales rise by 8.7% in Euro terms to just
under EUR 3.3 billion.
- Gross profit margin abates to 48.3%.
- EBIT before special items softens by 12.8% to EUR 290.7 million.
- Special items of EUR 177.5 million caused by Transformation and
Cost
Reduction Program, Spain Arbitration and restructuring of businesses in
Greece, Cyprus and Bulgaria.
- EBIT including special items totals EUR 113.2 million.
- EPS amount to EUR 4.69 after EUR 15.36 last year.

Outlook for the Financial Year 2013

- Transition Period defined within our strategy extended into 2013
- Launch of "The Nature of Performance" brand platform and new product
innovations to revitalize Performance categories
- Management expects 2013 sales unchanged from the 2012 level
- Management envisages an increase in EBIT before special items of low- to
mid-single digits and a significant improvement of net earnings

"Despite a continuously challenging market environment, particularly
in Europe, PUMA delivered a strong sales performance in the fourth
quarter, enabling us to meet our sales projections for the full year
of 2012," said Franz Koch, CEO of PUMA SE. "We have completed
defining the scope of PUMA's Transformation and Cost Reduction
Program, and will continue with the implementation of all
measures throughout 2013 to improve the company's profitability.
I want to reiterate that it is not our priority to push for sales
growth at any cost, but instead focus on improving desirability for
the PUMA brand."

Strong performances in Asia and North America give impetus to PUMA's
Fourth Quarter Sales Growth

PUMA delivered a strong sales performance in the fourth quarter
of 2012. Boosted by double-digit sales growth in Asia and
North America, PUMA's consolidated sales increased by nearly 12%
in Euro terms or 8.7% currency adjusted to EUR 804.7 million
from October 1 to December 31. The numbers were supported by the
performance of Cobra PUMA Golf, with its products resonating
exceptionally well with consumers.

Sales Performance by Segment All of PUMA's product segments grew in
the fourth quarter of 2012. Footwear was up by 8.6% in Euro terms to
EUR 367.9 million. On the Performance side, PUMA's Faas footwear
family continued to appeal to consumers while the PUMA Suede
range fuelled sales in PUMA's Lifestyle footwear business.

Apparel climbed by 15.2% in Euro terms to EUR 316.6 million
after increasing demand for Fitness & Training gear. Accessories rose
by 12.3% in reported terms to EUR 120.1 million driven by our US
joint ventures Janed and Wheat as well as our Cobra PUMA Golf
business.

Sales Performance by Region While PUMA's sales increased in all
regions, performance in the Asia/Pacific region was exceptionally
satisfactory during the fourth quarter. Sales rose by 16.2% to EUR
246.7 million while PUMA expanded in virtually all markets. Japan
and India in particular excelled on the back of demand for
evoSPEED Apparel products. Seasonal factors also played a part, with
winter collections gaining traction with consumers, especially
PUMA branded duffel coats and parka collections in Korea, China
and Japan.

PUMA was also able to reverse the slight declines from previous
quarters in the EMEA region, with sales rising by 7.0% in Euro terms
to EUR 253.4 million. This performance was supported by strong
growth in Germany, Sweden and Switzerland delivering satisfying
growth rates. PUMA's Lifestyle footwear ranges sold well, especially
the PUMA Suede in developed countries as well as our Motorsport
collections in emerging markets. In the Americas, PUMA continued
to increase sales at a favorable rate, improving by 12.2% in
reported terms to EUR 304.5 million. This growth was driven mainly by
the Cobra PUMA Golf business as well as by undiminished demand
for Fitness, Lifestyle and Motorsport products.

Sales Performance Retail PUMA's retail business increased by a
significant 23.0%, with the company operating 60 additional
stores when compared to the fourth quarter of last year. As in
the three previous quarters, our comparable store sales developed
positively, while E-commerce sales rose by 23.4% over the same
period.

Margin, Expenses and Profitability PUMA's fourth quarter gross profit
margin declined from 46.7% to 44.6%. The Footwear margin fell
sharply from 46.6% to 41.8%, due to inventory clearances during
the quarter and unfavorable hedging rates as well as a shift in
the regional mix. The gross profit margin for Apparel, however,
improved from 45.9% to 46.6% and Accessories declined from 49.0% to
48.0%.

Operating expenses in the fourth quarter continued to rise, by
10.0% from EUR 292.3 million to EUR 321.5 million. This was
equivalent to 40.0% of sales and an OPEX ratio improvement from
40.6% in 2011. The absolute increase in operating expenses is
mostly attributable to higher marketing and retail expenses on the
back of our increased retail portfolio as well as continuing IT
and supply chain infrastructure improvements.

The EBIT before special items fell by 11.2% to EUR 42.8 million in
the fourth quarter from last year's EUR 48.1 million and also as a
percentage of sales, from 6.7% to 5.3%.

In addition to the special items of EUR 79.3 million reported
in the third quarter, PUMA recorded a further EUR 98.2 million in
special items for the last three months of 2012. These additional
items consist of the arbitral award in December related to the
trademark rights in Spain, the restructuring of our distribution
set-up and the closure of our subsidiaries in Greece, Cyprus and
Bulgaria, as well as the streamlining of our product and endorsement
portfolio.

The fourth quarter financial result further improved from EUR -8.9
million to neutral, largely as a result of a decline of foreign
exchange impacts.

EBT in the fourth quarter fell from EUR 39.3 million to EUR -55.4
million. Net earnings consequently also declined from EUR 33.1
million to a loss of EUR -42.6 million in the quarter and Earnings
per share followed suit, reduced from EUR 2.21 to EUR -2.85.
These drops all stem from the special items booked in the
quarter.

PUMA reaches 2012 Full Year Sales Target

2012 was an exceptional year for PUMA in many ways. The Football
Euro Cup in June, the conclusion of PUMA's second Volvo Ocean Race
in July and the Summer Olympics in August turned 2012 into a year
full of major sports highlights. These events provided the
perfect platform for PUMA to generate global brand visibility and
desirability.

In terms of product, 2013 will be a pioneering year for PUMA, as the
company re- energizes its Performance positioning through the
introduction of a new cross- category brand platform: The Nature of
Performance. The Nature of Performance unifies all of PUMA's
performance categories with a consistent voice, look and feel and
serves as the inspiration for a collection of innovative new
products in the Football, Running, Training, Fitness and Golf
categories.

PUMA's management began to implement the company's Transformation
and Cost Reduction Program throughout the second half of 2012,
laying the groundwork for substantial financial improvements going
forward. The program entails the set up of a new business model
in Europe by reducing the number of reporting entities from 23
countries to seven areas as well as a strong European
management paradigm. The areas DACH (Germany, Austria,
Switzerland), IBERIA (Spain, Portugal), UKIB (UK, Ireland and
Benelux), SCANDINAVIA (Denmark, Finland, Norway, Sweden), EASTERN
EUROPE (Estonia, Latvia, Lithuania, Poland and Slovakia, Czech
Republic, Hungary), FRANCE and ITALY have all been
implemented.

The Transformation and Cost Reduction Program includes the
closure of approximately 90 unprofitable stores, mostly in
established markets, which has also begun. However, PUMA will
continue to open new stores in selected profitable locations
throughout 2013, primarily in emerging markets. PUMA expects to
be operating 540 stores at the end of 2013 compared with 590 stores
at the end of 2012.

PUMA has also assessed its sponsorship portfolio and terminated
endorsement contracts that are either unprofitable or are no longer
part of PUMA's core categories going forward. Within this context,
PUMA has decided to focus its activities in the Sailing category
on endorsing the America's Cup and ORACLE TEAM USA for 2013.
Beyond 2013, PUMA will cease the production of Sailing
products, and focus instead on its Outdoor business, for which
Sailing has served as the perfect springboard. PUMA has also decided
to exit all European Rugby activities, including the endorsement
of the Irish Rugby Football Union beyond the 2013/14 season.

Full year sales increase to almost EUR 3.3 billion Consolidated sales
for the Full Year climbed 8.7% in Euro terms or 4.6%
currency adjusted to EUR 3,270.7 million. With this record result,
PUMA achieved its sales target for the full year.

Sales Performance by Region While sales in EMEA softened by 0.8% in
Euro terms to EUR 1.3 billion due to a weaker performance in
Western Europe, there were strong performances in Germany,
Russia and Turkey in 2012. The Americas delivered a
satisfying performance, including North America, Mexico and
Argentina, increasing in Euro terms by 16.6% to EUR 1.13 billion.
Asia/Pacific was equally strong, rising by 15.3% to EUR 841.7
million, supported by good numbers in Japan and India in
particular.

Sales Performance by Segment In terms of segments, Footwear grew
3.6% in Euro terms to EUR 1.6 billion. Apparel rose by 11.2% to
EUR 1.15 billion, while Accessories posted an impressive 20.7%
increase to EUR 523.6 million also bolstered by consolidation
effects of the new joint ventures.

Retail sales climb by EUR 109.0 million Sales in our owned and
operated retail outlets rose by 21.2% in 2012 to EUR 623.9 million,
an increase of EUR 109.0 million from 2011. This is due in part to
the expansion of our retail base compared to the end of 2011. As a
percentage of total turnover, retail sales rose from 17.9% to 19.1%.
E-commerce also posted a gain, up 16.5% for the year.

Gross profit margin eases to 48.3% For the full year, PUMA's gross
profit margin moved down from 49.6% to 48.3% in 2012. This was due
to a combination of factors, most notably inventory clearance,
the regional mix and also continued input cost pressure in the form
of wage inflation in the Far East. The Footwear margin declined from
49.1% to 46.5%. Apparel rose slightly, from 49.6% to 49.8%
whereas Accessories fell, from 51.6% to 50.5%.

Operating expenses PUMA's full year operating expenses rose by
11.0% in 2012, from EUR 1,177.8 million to EUR 1,307.5 million,
slightly ahead of and equal to 40.0% of sales. Marketing and
Retail rose by 10.7% to EUR 609.3 million, and also slightly as a
percentage of sales to 18.6% after 18.3% last year, caused by
supporting a double event year and the increasing number of stores
operated by PUMA. Other Selling Expenses rose 11.4% to EUR 431.1
million. Similarly, Research, Design and Development costs rose 10.3%
to EUR 84.9 million as PUMA continues to emphasize its product
pipeline. General and Administrative Expenses were up 5.0% to EUR
205.0 million. Despite this, the expense ratio declined from 6.5%
to 6.3% in 2012 due to cost saving measures. The Company reported
other operating income of EUR 22.9 million compared to EUR 32.2
million in 2011.

Earnings before special items EBIT before special items declined
12.8% to EUR 290.7 million as a result of higher costs and lower
than expected margins. As a percentage of sales this is equal to
8.9% for the year compared to last year's 11.1%.

Special Items PUMA recorded EUR 124.9 million in special items
that are related to the Transformation and Cost Reduction Program.
These have been incurred mainly by restructuring the European
region, optimizing the retail portfolio, adjusting the product and
endorsement portfolio, and reorganizing our global functions and
local subsidiaries.

As announced on 20 December 2012, the former Spanish distributor
and license holder Estudio 2000 S.A., who owned several PUMA
trademark rights in Spain, was obliged to vest these to PUMA in
accordance with the award of the arbitration panel. According to
this ruling, the transfer of the trademark rights is subject
to a one-time payment of EUR 42.2 million to Estudio 2000 S.A., which
led to a one-off expense of EUR 24.6 million in 2012.

For Greece, Cyprus and Bulgaria, PUMA has appointed
Sportswind, a local distributor, to take over PUMA's business
activities in these countries, as PUMA wants to focus its
efforts, initiatives and investments on its key strategic
markets. The distribution agreement should reduce PUMA's
business risks in these markets substantially while at the same time
improve its sales. PUMA will close its own operations in due course
in these three markets. The restructuring of the aforementioned
distribution and operations resulted in additional one-time costs
of EUR 28.0 million.

Operational result after Special Items The EBIT after special items
for 2012 was EUR 113.2 million, or 3.5% as a percentage of
sales.

The financial result for 2012 improved significantly and was EUR
-0.9 million compared to EUR -12.8 million in 2011 due to lower
foreign exchange impacts in PUMA's financing activities.

Full year EBT was therefore EUR 112.3 million, or 3.4% of sales,
while the tax ratio remained stable at 28.9%.

As a result of our Transformation and Cost Reduction Program in
2012, net earnings for the financial year 2012 were EUR 70.2
million, compared to EUR 230.1 million last year and EPS was
therefore equal to EUR 4.69 and down from last year's EUR 15.36.

Net Assets and Financial Position

Equity The equity ratio rose from 62.2% to 63.1%, which
indicates continued improvement in our capital base, despite the
lower net earnings in 2012.

Working Capital PUMA's overall Working Capital increased by 16.8% to
EUR 623.7 million, due in particular to a decline of working
capital related liabilities at the balance sheet date. On the
asset side, testament to PUMAs strict management, Inventories
rose only slightly, by 2.9% to EUR 552.5 million and Trade
receivables actually decreased despite the rise in sales, down 4.9%
to EUR 507.0 million.

Cashflow / Capex / Cash Position Free cashflow before acquisitions
for the full year improved by 37.1% from EUR 61.0 million to EUR
83.5 million in 2012 mainly due to lower tax payments. With regards
to our Capex, PUMA's outgoings increased by 14.1% to EUR 81.2
million related to store openings and IT investments. Payments for
acquisitions more than doubled to EUR 91.7 million, consisting for
the most part of PUMA's purchase of all outstanding Dobotex
shares at the beginning of the year. As a consequence, the
net cash position decreased by 12.1% to EUR 363.2 million.

Dividend The Administrative Board will propose at the Annual General
Meeting on May 7, 2013, that a dividend of EUR 0.50 per share (EUR
2.00 in the previous year) be paid for the financial year 2012. This
is a result of the reduced earnings caused by the special items
undertaken under the Transformation and Cost Reduction Program,
the restructuring of the distribution in southern east
European countries and the Arbitration ruling in Spain.

Share buyback The company did not buy back any of its own
shares throughout the year, including the fourth quarter of 2012.
As of the balance sheet date, PUMA owned 143.185 of its own shares,
equal to EUR 32.2 million.

Outlook

Management expects that PUMA's sales in 2013 will remain at a level
consistent with that of 2012. This is due to the fact that the
implementation of the Transformation and Cost Reduction Program
will continue throughout 2013, making it a transitional year
before PUMA will once again generate desirable, profitable
sales growth. However, as PUMA's Transformation and Cost Reduction
Program is geared towards improving the company's profitability,
management envisages an increase in EBIT before special items in the
low- to mid-single digits while net earnings should improve
significantly.

Media Relations:

Kerstin Neuber - Corporate Communications - PUMA SE - +49 9132 81
2984 - kerstin.neuber@puma.com

Investor Relations:

Carl Baker - Finance - PUMA SE - +49 9132 81 3188 -
carl.baker@puma.com

Notes to the editors:
- This press release and financial reports are posted on www.about.puma.com.
- PUMA SE stock symbol:
Reuters: PUMG.DE, Bloomberg: PUM GY,
Börse Frankfurt: ISIN: DE0006969603- WKN: 6969603

Notes relating to forward-looking statements: This document
contains forward-looking information about the Company's
financial status and strategic initiatives. Such information is
subject to a certain level of risk and uncertainty that could
cause the Company's actual results to differ significantly
from the information discussed in this document. The
forward-looking information is based on the current expectations
and prognosis of the management team. Therefore, this document
is further subject to the risk that such expectations or prognosis,
or the premise of such underlying expectations or prognosis,
become erroneous. Circumstances that

could alter the Company's actual results and procure such results to differ
significantly from those contained in forward-looking statements made by or on
behalf of the Company include, but are not limited to those discussed be above.

|PUMA |

PUMA is one of the world's leading Sportlifestyle companies that
designs and develops footwear, apparel and accessories. It is
committed to working in ways that contribute to the world by
supporting Creativity, SAFE Sustainability and Peace, and by
staying true to the principles of being Fair, Honest, Positive
and Creative in decisions made and actions taken. PUMA starts in
Sport and ends in Fashion. Its Sport Performance and Lifestyle
labels include categories such as Football, Running, Motorsports,
Golf and Sailing. Sport Fashion features collaborations with
renowned designer labels such as Alexander McQueen, Mihara Yasuhiro
and Sergio Rossi. The PUMA Group owns the brands PUMA, Cobra Golf
and Tretorn. The company, which was founded in 1948, distributes
its products in more than 120 countries, employs more than 10,000
people worldwide and has headquarters in Herzogenaurach/Germany,
Boston, London and Hong Kong. For more information, please visit
http://www.puma.com

Further inquiry note:
Kerstin Neuber

Telefon: +49 (0)9132 81-2984

E-Mail: Kerstin.Neuber@puma.com

end of announcement euro adhoc
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company: PUMA SE
PUMA Way 1
D-91074 Herzogenaurach
phone: +49 (0)9132 81 0
FAX: +49 (0)9132 81-2246
mail: investor-relations@puma.com
WWW: http://about.puma.com/?lang=de
sector: Consumer Goods
ISIN: DE0006969603
indexes: Midcap Market Index, MDAX, CDAX, Classic All Share, HDAX, Prime All
Share
stockmarkets: free trade: Hannover, Berlin, Hamburg, Düsseldorf, Stuttgart,
regulated dealing: München, regulated dealing/prime standard:
Frankfurt
language: English