Metzingen, February 7, 2014. In fiscal year 2013, the HUGO BOSS Group increased sales and profit, reaching the targets it had set itself. Adjusted for currency effects, the fourth quarter made a substantial contribution to this development with double-digit sales growth and a significant improvement in earnings.
“We have made good progress over the year just ended in our efforts to scale up our own retail business and strengthen the premium and luxury claim of our core BOSS brand. We are going to rigorously drive forward this realignment towards end customers,” Claus-Dietrich Lahrs, CEO of HUGO BOSS AG commented. “Given the positive development of the closing quarter, we have reason to be confident about the current year. We have set ourselves the target to grow faster than last year and to outperform our industry.”
In the fourth quarter of 2013, the HUGO BOSS Group generated sales growth of 10% based on preliminary figures and adjusted for currency effects. In the reporting currency, this constitutes an increase of 7% to EUR 649 million (2012: EUR 607 million). Adjusted for currency effects, all regions and distribution channels contributed to the growth, particularly Europe, which saw a double-digit increase. The Group's own retail business also reported double-digit growth on the back of new store openings and a currency-adjusted increase in comp store sales of 3%. Thanks to the increase in sales and a significantly improved gross margin, EBITDA before special items rose by 17% to EUR 157 million (2012: EUR 134 million).
Looking at the full year 2013, consolidated sales based on preliminary figures and adjusted for currency effects increased by 6%. In the reporting currency, this corresponds to an increase of 4% to EUR 2,432 million (2012: EUR 2,346 million). With the exception of the wholesale channel, all regions and distribution channels reported sales growth after currency adjustments. EBITDA before special items increased by 7% to EUR 565 million (2012: EUR 528 million). Driven by an improvement in free cash flow, net financial liabilities were reduced by EUR 73 million to EUR 57 million (2012: EUR 130 million).
The Company will publish the audited results of fiscal year 2013 and the outlook for 2014 on March 13, 2014.
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