HUGO BOSS AG proposed dividend increase for fiscal 2004
Metzingen. Based on a successful fiscal 2004 and the positive prospects for the company’s further development, the Supervisory Board and Managing Board of HUGO BOSS AG recommend to increase dividends by 6 cents to EUR 0.84 (previous year:EUR 0.78) per common share and EUR 0.85 (previous year: EUR 0.79) per preferred share. “The comparatively high level of dividends enables our shareholders to directly participate in the successful development and sustained profitable growth of HUGO BOSS,” comments CEO Dr. Bruno Sälzer.
The Supervisory Board and Managing Board approved the financial statements during today’s meeting. Sales of the HUGO BOSS fashion group increased by 11% in fiscal 2004, from EUR 1,054.1 million to EUR 1,168.4 million (13% when adjusted for currency effects). Earnings before interest and tax (EBIT) grew by 13% to EUR 135.3 million (2003: EUR 119.3 million) and net income rose by 7% to EUR 88.2 million (2003: EUR 82.4 million). In all of its segments, the Group achieved stronger growth than the world fashion market. In particular, BOSS Woman has continued its dynamic growth with a sales increase of 36%.