Consolidated Sales up by 23%  Strong Growth in all Segments  PUMA closed 2004 with yet another record and succeeded in  raising its consolidated sales to a level that was once again  significantly above the industry average. Currency-adjusted  consolidated sales rose by 22%. In Euro, the increase was 20%, from € 1,274.0  million to € 1,535.0 million.  Sales in the largest segment,  Footwear , were up 17.7%,  climbing from € 859.3 million to € 1,011.4 million, which  corresponds to a currency-adjusted increase of 20.3%. With a 66.1% share of consolidated sales, Footwear continued to be  the largest product segment.  In particular, the three main categories, Teamsport, Running and Motorsport, were significant value drivers in the Footwear segment. The strongest growth was achieved in the Running category, where sales more than doubled. Teamsport  products likewise demonstrated impressive development with significant double-digit growth. Strong growth was also reported in the Motorsport category. As anticipated, Heritage/Originals were below the previous year’s level and in line with the general development in this category. Accessories sales, consisting mainly of bags, balls and sport accessories, were up 32.4%, moving from € 77.7 million to  € 102.9 million and contributing 6.7% to consolidated sales.  The currency-adjusted sales increase was 34.6% and the highest growth within the product segments.  Consolidated sales (million €) 0 400 800 1,200 1,600 461.5 598.1 909.8 1,274 .0 1,530.3 2000 2001 2002 2003 2004 2000 2001 2002 2003 2004 Consolidated sales by  product segments (million €) Apparel Accessories Footwear 0 400 800 1,200 1,600 As expected,  Apparel contributed significantly to the growth in sales. Sales were up 23.5%, rising from € 337 million to € 416 million. This corresponds to a currency-adjusted increase of 26.1%. The 27.2% share of consolidated sales underscores the growing importance of the Apparel segment. Apart from Heritage/Originals, all categories developed very positively.  Foreword | Mission |  Management Report  | Share | Marketing | Consolidated Financial Statements - IFRS - | Report of Supervisory Board | Board of Management 17