Although fiscal year 2021 was once more impacted by the implications of the COVID-19 pandemic, HUGO BOSS recorded a noticeable recovery in global business activity over the course of the year. This led to significant improvements in sales, EBIT, and an increase in associated income tax expenses.
In addition to the swift return to sales and earnings growth, this year’s management activities focused on the implementation and successful execution of the “CLAIM 5” growth strategy.
Despite the COVID-19 pandemic, Germany, as one of the core markets of HUGO BOSS, had the highest revenue1 and current income tax expenses (excluding aperiodic effects). In this context, the current tax expenses only reflect operations in the current year and do not include deferred taxes or provisions for uncertain tax liabilities. As Great Britain, the United States, and mainland China are among the core markets of HUGO BOSS, this is also reflected in their share of revenue1 and income tax accrued. The distribution of revenue1 and current income tax accrued among the other countries corresponds to the respective course of business.
1 Figures are based on the separate financial statements of the respective subsidiaries included in the consolidated financial statements.