Puma returns to trading on the stock exchange
The Pinault family, known for their significant stake in sports apparel giant Puma, is currently exploring the possibility of selling their 29% share in the company. This potential sale has been reported by Bloomberg, with various potential buyers showing interest.
The potential suitors include Anta Sports Products, Li Ning, American sports brands, and Middle Eastern investment funds. The family is reportedly seeking a "significant premium" for their stake, reflecting the value they believe their ownership holds in Puma.
Recently, Puma's financial performance has faced challenges. The adjusted EBIT for the first half of the current fiscal year stood at €62.5 million, a significant decrease from €276.2 million in the same period of 2024. Puma's shares remain 44.41% below last year's levels.
The company's operating expenses increased by 5.5% in the first half of the current fiscal year, contributing to a net loss of €246.6 million. Puma reported a negative EBIT of 40 million euros, and the gross margin dropped 60 basis points to 46.5%.
However, there was a glimmer of hope in yesterday's trading session, as Puma's stock surged by 15.96%, reaching €21.73. The stocks briefly surpassed the €22 mark during the session.
Despite the financial hurdles, the Pinault family is working with advisors to push through the potential sale of their stake. The negotiations may not result in a firm offer, but the interest from potential buyers suggests a possible change in Puma's ownership structure in the near future.
As the negotiations continue, the sports industry and investors alike will be watching closely to see how this potential sale unfolds. The outcome could have significant implications for Puma's future direction and performance.
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