Second Quarter 2022 Results

Our impressive growth in the first half of the year reflects the many successes related to our comprehensive branding refresh. We have significantly increased the relevance of BOSS and HUGO within a very short period of time. Based on this momentum, we will continue to work rigorously on the execution of our ‘CLAIM 5’ growth strategy and pursue our ambition to become one of the top 100 global brands.

Daniel Grieder

Latest information

Investor Relations team honored on several occasions

June 2022 - On June 21, DIRK, Institutional Investor Research and WirtschaftsWoche honored Germany’s best IR managers based on a broad survey of institutional investors. Vice President Investor Relations at HUGO BOSS Christian Stöhr was awarded a very strong second place in the category "Best Investor Relations Professional (MDAX)". On top of that, the entire IR team took a strong third place in the ranking for best IR department in the MDAX. Later that week, HUGO BOSS was also honored at the prestigious IR Magazine Awards in London as well as the renowned Deutscher Preis für Onlinekommunikation in Berlin. Having been short-listed for the successful execution of the 2021 Investor Day as well as the elaborate digital implementation of its 2021 Annual Report, HUGO BOSS ranked among the very best companies in both cases.

HUGO BOSS OBTAINS ‘BBB/BAA2’ INVESTMENT-GRADE RATINGS

June 2022 - HUGO BOSS has received strong investment-grade inaugural ratings by rating agencies S&P and Moody’s. While S&P rated HUGO BOSS ‘BBB’ with a stable outlook, Moody’s assigned the Company a ‘Baa2’ rating with a stable outlook. This puts HUGO BOSS amongst the highest-rated companies in the global premium apparel industry.

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COO HEIKO SCHÄFER LEAVES HUGO BOSS

May 2022 – Chief Operating Officer Heiko Schäfer will leave the Managing Board of HUGO BOSS AG with effect as of May 31, 2022, to pursue a new professional assignment outside the Group. Heiko Schäfer is responsible for Global Product Development and Sourcing, Own Manufacturing, and Logistics, as well as Sustainability. Under his leadership, HUGO BOSS has made important strides in digitalizing and streamlining the company’s product development and logistics, realigning the Group’s own manufacturing in the context of the casualization trend, and further strengthening its sustainability efforts.

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2,786

EUR million sales

2021

551

Freestanding Stores

2021

14,041

Employees

2021

Five strong reasons for an investment in HUGO BOSS:

Two strong brands

BOSS and HUGO – two strong brands with global awareness, that are clearly distinguished by their fashionable style but meet the same high standards in terms of quality and fit, innovation and sustainability. A 24/7 approach ensures that customers are well dressed across all different wearing occasions with casualization and comfort being key. Two clearly distinguished marketing strategies – with a strong focus on digital as well as exceptional collaborations – are set to create excitement among consumers and unleash the full potential of BOSS and HUGO.

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Growth strategy ‘CLAIM 5’

The growth strategy ‘CLAIM 5’ aims at accelerating growth across all brands, touchpoints, and geographies. Until 2025, the Company is fully committed to double sales to EUR 4 billion, claim its position in the consumers’ minds, and win market share for its strong brands BOSS and HUGO. The strategy aims to deliver on the Group´s vision and ambition of becoming the premium tech-driven fashion platform worldwide, and one of the top-100 global brands.

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Profitability improvements

With its growth strategy ‘CLAIM 5’, HUGO BOSS also aims to deliver significant profitability improvements. The Group is confident of returning to a strong EBIT margin of around 12% by 2025. Important investments into the business will be compensated for by leveraging operating overheads as well as strong efficiency gains to be realized by optimizing the Company’s global store network.

Above-average free cash flow generation

Driven by the significant top- and bottom-line growth, HUGO BOSS is confident to generate cumulative free cash flow of around EUR 2 billion between now and 2025. Improvements in trade net working capital and the smart and efficient use of capital expenditure will provide further support to free cash flow development. A significant portion of cumulative free cash flow will be distributed to shareholders through regular dividend payouts. The Company’s payout ratio until 2025 will be in a range of between 30% and 50% of net income attributable to shareholders.

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Strong commitment to sustainability

HUGO BOSS is committed to conscious, value-oriented management. Consequently, sustainability is firmly anchored in the Group strategy. The Company’s ambitious sustainability targets include the aim for climate neutrality within its own area of responsibility by 2030 and throughout the entire value chain by 2045. HUGO BOSS will also put particular emphasis on establishing an end-to-end circular business model. In this context, the Company aims to enable 80% of its products to become circular by 2030.

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