By Anthony Shevlin 
 

Puma SE (PUM.XE) said Tuesday that it expects its currency-adjusted consolidated sales growth to be about 10% each year until 2022.

The German company said, ahead of its 2018 Capital Markets Day, that it expects its earnings before interest and taxes margin to reach a level of about 10% of consolidated net sales by 2022 at the latest. Puma said it will propose a 2018 dividend of between 25% and 35% of the consolidated net earnings.

Earlier this year, Puma's biggest shareholder Kering (KER.FR) said it would shed the bulk of its 86.3% stake by distributing Puma shares to Kering shareholders. After the transaction, which Kering shareholders vote on in April, Kering will retain a roughly 16% in Puma.

In February, Puma said it expected a positive 2018, with a currency-adjusted sales increase of about 10% and a higher net profit. It also announced a one-off dividend of EUR12.50 for 2017.

Write to Anthony Shevlin at anthony.shevlin@dowjones.com

(END) Dow Jones Newswires

March 20, 2018 05:28 ET (09:28 GMT)