EQS-Adhoc: HUGO BOSS AG: HUGO BOSS ANNOUNCES PRELIMINARY SECOND QUARTER RESULTS AND UPDATES ITS FULL-YEAR 2024 OUTLOOK
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EQS-Ad-hoc: HUGO BOSS AG / Key word(s): Quarter Results/Change in Forecast Metzingen, July 15, 2024
HUGO BOSS ANNOUNCES PRELIMINARY SECOND QUARTER RESULTS AND UPDATES ITS FULL-YEAR 2024 OUTLOOK HUGO BOSS updates its financial outlook for full year 2024, factoring in the persistent macroeconomic and geopolitical challenges that are dampening global consumer demand. These headwinds contributed to a further slowdown of industry growth, affecting the top- and bottom-line performance of HUGO BOSS in the second quarter. The overall market environment remained particularly challenging in key markets such as the UK and China. On a preliminary basis, currency-adjusted Group sales in the second quarter remained 1% below the prior-year level. Also in Group currency, sales declined 1%, amounting to EUR 1,015 million (Q2 2023: EUR 1,026 million). At the same time, operating profit (EBIT) in the second quarter amounted to EUR 70 million on a preliminary basis (Q2 2023: EUR 121 million). Besides the overall softer sales trends, additional marketing investments (+21% to EUR 82 million; Q2 2023: EUR 68 million) and higher brick-and-mortar retail costs (+12% to EUR 238 million; Q2 2023: EUR 213 million) also contributed to the decline in EBIT. These factors were partially compensated by a robust improvement in gross margin in the second quarter (+50 basis points to a level of 62.9%; Q2 2023: 62.3%), as HUGO BOSS continues to successfully drive efficiencies along its global sourcing activities. From a balance sheet perspective, HUGO BOSS further improved its cash position, with free cash flow amounting to EUR 143 million in the second quarter (Q2 2023: EUR 60 million). This development mainly reflects a further optimization of inventory levels, down 7% currency-adjusted year over year. Consequently, at 24.9%, inventories as a percentage of Group sales came in 340 basis points below the prior-year level (June 30, 2023: 28.3%). At the same time, capital expenditure was up 14% totaling EUR 76 million in the three-month period (Q2 2023: EUR 66 million). Against the backdrop of the second quarter performance as well as ongoing uncertainties regarding the future development of global consumer sentiment, HUGO BOSS adjusts its financial outlook for fiscal year 2024. Management now expects Group sales to increase by +1% to +4% in Group currency to an amount of around EUR 4.20 billion to EUR 4.35 billion (previously: sales to increase between +3% and +6% to around EUR 4.30 billion to EUR 4.45 billion). This includes the expectation of currencies having a slightly negative impact on top-line development in 2024. At the same time, HUGO BOSS now expects EBIT for full year 2024 to develop in a range of ‑15% to +5%, amounting to around EUR 350 million to EUR 430 million (previously: EBIT to increase by +5% to +15% to around EUR 430 million to EUR 475 million), thus taking into account the overall market volatility. HUGO BOSS will publish its full set of second quarter results on August 1, 2024.
If you have any questions, please contact:
Christian Stöhr Senior Vice President Investor Relations Phone: +49 7123 94-87563 E-mail: christian_stoehr@hugoboss.com End of Inside Information
15-Jul-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | HUGO BOSS AG |
| Holy-Allee 3 | |
| 72555 Metzingen | |
| Germany | |
| Phone: | +49 (0)712 394-0 |
| Fax: | +49 (0)712 394-80259 |
| E-mail: | info@hugoboss.com |
| Internet: | www.hugoboss.com |
| ISIN: | DE000A1PHFF7 |
| WKN: | A1PHFF |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange |
| EQS News ID: | 1946671 |
| End of Announcement | EQS News Service |
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1946671 15-Jul-2024 CET/CEST
Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.
| The most important financial data at a glance | ||||||||
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024e | ||
| Sales1 | 2.795,96 | 2.884,06 | 1.945,84 | 2.786,11 | 3.651,38 | 4.197,46 | 4.280,00 | |
| EBITDA1,2 | 476,49 | 706,96 | 230,00 | 567,28 | 680,45 | 752,03 | 735,00 | |
| EBITDA-Margin3 | 17,04 | 24,51 | 11,82 | 20,36 | 18,64 | 17,92 | 17,17 | |
| EBIT1,4 | 346,81 | 344,50 | -235,62 | 228,00 | 335,42 | 410,34 | 390,00 | |
| EBIT-Margin5 | 12,40 | 11,95 | -12,11 | 8,18 | 9,19 | 9,78 | 9,11 | |
| Net Profit (Loss)1 | 236,20 | 205,24 | -219,18 | 144,13 | 221,86 | 269,79 | 248,00 | |
| Net-Margin6 | 8,45 | 7,12 | -11,26 | 5,17 | 6,08 | 6,43 | 5,79 | |
| Cashflow1,7 | 321,80 | 651,72 | 239,91 | 658,11 | 357,26 | 393,64 | 0,00 | |
| Earnings per share8 | 3,42 | 2,97 | -3,18 | 1,99 | 3,04 | 3,74 | 3,45 | |
| Dividend per share8 | 2,70 | 0,04 | 0,04 | 0,70 | 1,00 | 1,35 | 1,35 | |
1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de
Auditor: Deloitte
All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.
| INVESTOR-INFORMATION | ||||||
| ©boersengefluester.de | ||||||
| Hugo Boss | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| A1PHFF | DE000A1PHFF7 | AG | 3.067,33 Mio € | 19.12.1985 | Kaufen | 8FWFG7WC+R7 |
| PE 2025e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 11,47 | 18,24 | 0,63 | 16,25 | 2,56 | 7,79 | 0,73 |
|
Dividend '2022 in € |
Dividend '2023 in € |
Dividend '2024e in € |
Div.-Yield '2024e in % |
| 1,00 | 1,35 | 1,35 | 3,10% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 15.05.2025 | 06.05.2025 | 01.08.2024 | 05.11.2024 | 13.03.2025 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| +8,07% | +1,69% | -35,41% | -34,83% | -0,91% |
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