Is ther any risk to consolidating financial statements

It also calls for more informative and relevant information to be provided to the target audience of the annual financial statements than before.

Detailed analyses with respect to the first-time application of IFRS 15 are still being conducted.

The surplus of the acquisition costs arising from the purchase that exceeds the Group’s share in the net assets stated at fair value is reported as goodwill.

Detailed analyses with respect to the first-time application of IFRS 9 are still being conducted.

This is not expected to have any significant impact.

Under the “PUMA” brand name, PUMA SE and its subsidiaries are engaged in the development and sale of a broad range of sports and sports lifestyle products, including footwear, apparel, and accessories.

The company is a European stock corporation (Societas Europaea/SE) and the parent company of the PUMA Group, with its registered office on PUMA WAY 1, 91074 Herzogenaurach, Germany.

As a rule, the possibility of control is based on PUMA‘s holding a direct or indirect majority of the voting rights.

The company is included from the time when the possibility of control exists. The capital consolidation of the subsidiaries acquired after January 1, 2005 is based on the acquisition method.The competent registry court is in Fürth (Bavaria).The PUMA Group is included in the consolidated financial statements of Kering S.The main activities are the activities which significantly influence the profitability of the company.Control is therefore exercised when the Group is exposed to variable returns from the relationship with a company and, by using its authority to exercise control over the main activities, it is possible to influence these returns.The following standards and interpretations have been released, but will only take effect in later reporting periods and are not applied earlier by the group: IFRS 9 contains provisions for the recognition, measurement, derecognition and accounting of hedging transactions.

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