Home / Knowledge / News / Apparel/Garments / Hugo Boss: sales & earnings reach new highs in 2011
Hugo Boss: sales & earnings reach new highs in 2011
10
Feb '12
The Managing Board of HUGO BOSS AG releases key figures from the preliminary, unaudited consolidated financial statements for 2011. The year 2011 was HUGO BOSS' most successful in its history to date. Sales and earnings reached new highs after performance in the final quarter of the year was stronger than management had initially expected.

“2011 was another record year for HUGO BOSS. And 2012 has also got off to a good start for us,” says Claus-Dietrich Lahrs, CEO of HUGO BOSS AG. “I am therefore confident, despite the uncertain economic environment, that we will take another big step towards achieving our medium-term goals in the current fiscal year.”

On a preliminary basis, sales in the fourth quarter of 2011 were up 17% after adjustment for currency effects. In euros, the Group generated an 18% increase in sales to EUR 499 million (2010: EUR 422 million). Double-digit increases in all regions and significant growth in the Group's own retail business contributed to this development. As a result of the positive sales development and the improvement in the gross profit margin by 240 basis points to 66.2% (2010: 63.8%), EBITDA before special items rose by 26% to EUR 97 million (2010: EUR 77 million). The own retail expansion and efficiency improvements in this distribution channel played a major role in this increase.

Consolidated net income attributable to shareholders reached EUR 53 million in the fourth quarter of 2011, representing growth of 67% as compared to the previous year's level of EUR 32 million.

For 2011 as a whole, Group sales thus amounted to EUR 2,059 million on a preliminary basis (2010: EUR 1,729 million). This corresponds to a 19% increase both on a currency-neutral basis and in the reporting currency. With the exception of the wholesale channel, which recorded high single-digit growth, all regions, distribution channels and brands posted double-digit sales increases.

The gross profit margin rose by 200 basis points to 61.4% (2010: 59.4%). Supported by efficiency improvements, EBITDA before special items thus increased by 34% to EUR 469 million (2010: EUR 350 million). At EUR 284 million, consolidated net income attributable to shareholders was up 53% on the previous year's level of EUR 186 million.

Trade net working capital amounted to EUR 407 million at the end of 2011, up 26% year-on-year (2010: EUR 323 million). Inventories rose by 21% to EUR 458 million (2010: EUR 377 million). However, net debt decreased by 26% to EUR 149 million (2010: EUR 201 million) due to the substantial improvement in earnings.

HUGO BOSS AG

Must ReadView All

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search