The company generated revenue of almost €1.6bn (+16%) in H1 15 whereas EBIT fell by 38% to €44m and net profit by 46% to €22m. In fact, revenue growth accelerated in Q2 to 19%, but the profit development deteriorated. Consequently, Puma suffered albeit a small net loss of €3m in Q2, the first loss ever in a second quarter since the beginning of this century. While revenue is just ahead of our expected number of €1.57bn, the two profit numbers are clearly worse.
