Transcript

Operator

Ladies and gentlemen, thank you for standing by. Welcome and thank you for joining the Q2 2026 Earnings Call of PUMA SE. Throughout today's recorded presentation, all participants will be in listen-only mode. The presentation will be followed by a question and answer session. If you would like to ask a question, you may press star followed by one on your touchtone telephone. Please press the star key followed by zero for operator assistance. I would now like to turn the conference over to Manuel Bösing, Director, Investor Relations. Please go ahead.

Manuel Bösing — Director of Investor Relations

Thank you, Maura. Hello, everyone, and welcome to PUMA's second quarter 2026 earnings call. Joining me today are our CEO, Arthur Hoeld, and our CFO, Mark Langer. Before we begin, please take note of the cautionary statements regarding forward-looking information, which is included on the next slide of the presentation. We will begin with a short video and kindly ask you not to record it. After the video, Arthur will take over. Arthur and Mark will then lead you through today's presentation, covering our business recap, financial update, and way forward. Following the presentation, we will open the line for questions. To give as many participants as possible the opportunity to ask questions, we kindly ask you to limit your initial questions to two. With that, please enjoy the video.

Video Narrator

[Presentation]

Arthur Hoeld — CEO

Good afternoon, everyone. Before we start, allow me a quick personal remark after being the CEO of PUMA for just about a year. It's a great privilege to work with such an iconic brand. The energy from our teams and our people motivates us every day to drive our journey back to the podium, a journey that we called out and started last year. The key message from us are that the second quarter 2026 progressed in line with our commitments for the transition year as part of our three-year transformation journey. We see continued improvement in distribution quality and an ongoing transition of the brand and commercial operating model as our foundation for our future growth. Despite continuous macroeconomic and geopolitical uncertainties, we remain on track to achieve our plans for this year. Sales for the quarter were at -9.4% versus 2025. That's currency adjusted. We look at the categories underneath that, we are very happy about the turnaround