Annual Report 2023

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Ten-Year-Overview

Ten-Year-Overview

 

 

2023

 

2022

 

2021

 

20201

 

20192

 

2018

 

2017

 

2016

 

2015

 

2014

Sales (in EUR million)

 

4,197

 

3,651

 

2,786

 

1.946

 

2,884

 

2,796

 

2,733

 

2,693

 

2,809

 

2,572

Sales by brand3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BOSS Menswear

 

3,256

 

2,868

 

2,181

 

1,530

 

2,488

 

2,422

 

2,336

 

2,313

 

2,522

 

2,328

BOSS Womenswear

 

288

 

239

 

192

 

 

 

 

 

 

 

HUGO

 

653

 

545

 

413

 

285

 

396

 

374

 

397

 

380

 

287

 

243

Sales by segments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EMEA

 

2,562

 

2,303

 

1,742

 

1,231

 

1,803

 

1,736

 

1,681

 

1,660

 

1,683

 

1,566

Americas

 

955

 

789

 

543

 

308

 

560

 

574

 

577

 

582

 

671

 

587

Asia/Pacific

 

576

 

467

 

423

 

343

 

438

 

410

 

396

 

382

 

393

 

361

Licenses

 

104

 

92

 

77

 

64

 

84

 

76

 

79

 

69

 

62

 

58

Sales by distribution channel3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Brick-and-mortar retail4

 

2,262

 

2,016

 

1,512

 

1,057

 

1,869

 

1,768

 

1,732

 

1,677

 

1,689

 

1,471

Brick-and-mortar wholesale5

 

1,033

 

895

 

647

 

472

 

931

 

952

 

922

 

947

 

1,058

 

1,043

Digital

 

798

 

648

 

549

 

352

 

–

 

–

 

–

 

–

 

–

 

–

Licenses

 

104

 

92

 

77

 

64

 

84

 

76

 

79

 

69

 

62

 

58

Results of operations (in EUR million)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross profit

 

2,581

 

2,256

 

1,721

 

1,187

 

1,875

 

1,823

 

1,808

 

1,777

 

1,853

 

1,699

Gross margin in %

 

61.5

 

61.8

 

61.8

 

61.0

 

65.0

 

65.2

 

66.2

 

66.0

 

66.0

 

66.1

EBIT

 

410

 

335

 

228

 

(236)6

 

344

 

347

 

341

 

263

 

448

 

449

EBIT margin in %

 

9.8

 

9.2

 

8.2

 

(12.1)7

 

11.9

 

12.4

 

12.5

 

9.8

 

15.9

 

17.4

EBITDA

 

752

 

680

 

568

 

230

 

707

 

476

 

499

 

433

 

590

 

572

Net income attributable to equity holders of the parent company

 

258

 

209

 

137

 

(220)8

 

205

 

236

 

231

 

194

 

319

 

333

Net assets and liability structure
as of December 31 (in EUR million)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade net working capital

 

870

 

613

 

376

 

491

 

528

 

537

 

459

 

524

 

528

 

503

Non-current assets

 

1,681

 

1,535

 

1,458

 

1,516

 

1,713

 

686

 

662

 

752

 

765

 

660

Equity

 

1,311

 

1,135

 

940

 

760

 

1,002

 

981

 

915

 

888

 

956

 

844

Equity ratio in %

 

38

 

36

 

34

 

30

 

35

 

53

 

53

 

49

 

53

 

51

Total assets

 

3,472

 

3,127

 

2,736

 

2,570

 

2,877

 

1,858

 

1,720

 

1,799

 

1,800

 

1,662

Financial position and dividend (in EUR million)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Free cash flow

 

96

 

166

 

560

 

164

 

457

 

170

 

294

 

220

 

208

 

268

Net financial liabilities (as of December 31)

 

1,006

 

767

 

628

 

1,004

 

1,040

 

22

 

7

 

113

 

82

 

36

Capital expenditure

 

298

 

192

 

104

 

80

 

192

 

155

 

128

 

157

 

220

 

135

Depreciation/amortization

 

342

 

345

 

339

 

4659

 

362

 

129

 

158

 

169

 

142

 

123

Total leverage (as of December 31)10

 

1.3

 

1.1

 

1.1

 

(6.7)

 

0.2

 

0.0

 

0.0

 

0.2

 

0.1

 

0.1

Amount distributed11

 

93

 

69

 

48

 

3

 

3

 

186

 

183

 

179

 

250

 

250

Additional key figures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Employees (as of December 31)12

 

18,738

 

16,930

 

14,041

 

13,795

 

14,633

 

14,685

 

13,985

 

13,798

 

13,764

 

12,990

Personnel expenses (in EUR million)

 

918

 

794

 

627

 

570

 

640

 

629

 

604

 

605

 

563

 

514

Number of Group´s own retail points of sale

 

1,418

 

1,316

 

1,228

 

1,157

 

1,113

 

1,092

 

1,139

 

1,124

 

1,113

 

1,041

Shares (in EUR)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share

 

3.74

 

3.04

 

1.99

 

(3.18)13

 

2.97

 

3.42

 

3.35

 

2.80

 

4.63

 

4.83

Dividend per share11

 

1.35

 

1.00

 

0.70

 

0.04

 

0.04

 

2.70

 

2.65

 

2.60

 

3.62

 

3.62

Last share price (as of December 31)

 

67.46

 

54.16

 

53.50

 

27.29

 

43.26

 

53.92

 

70.94

 

58.13

 

76.60

 

101.70

Number of shares (as of December 31)

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

1

In 2020, HUGO BOSS recorded non-cash impairment charges related to the negative impact of COVID-19 on the Group’s retail business in the amount of EUR 110 million.

2

The application of IFRS 16 in fiscal year 2019 partially limits the comparability of some performance indicators towards the prior-year figures. Additional information on the first–time application of IFRS 16 are presented in the Annual Report 2019.

3

Starting 2020, presentation has been aligned to the 2025 targets set out in the “CLAIM 5” strategy.

4

Until fiscal year 2019, own retail sales were reported including the Company’s own online sales.

5

Until fiscal year 2019, wholesale sales were reported including online sales generated in wholesale.

6

2020: Excluding non-cash impairment charges, EBIT amounted to minus EUR 126 million.

7

2020: Excluding non-cash impairment charges, EBIT margin amounted to (6.5)%.

8

2020: Excluding non-cash impairment charges, net income amounted to minus EUR 131 million.

9

2020: Excluding non-cash impairment charges, depreciation and amortization amounted to EUR 355 million.

10

2021: Net financial liabilities/EBITDA including the impact of IFRS 16; Until 2020: Net financial liabilities/EBITDA excluding the impact of IFRS 16.

11

2023: Dividend proposal; 2020/2019: legal minimum dividend of EUR 0.04 per share in the wake of the COVID-19 pandemic.

12

Full-time equivalent (FTE).

13

2020: Excluding non-cash impairment charges, EPS amounted to minus EUR 1.90.

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