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

Pic: Shutterstock

Apparel/Garments | On 20th Feb 2020

Bangla garment accessories sector may lose Tk 1500 cr

Bangladesh's garments accessories and packaging sector may incur a...

Pic: Shutterstock

Textiles | On 20th Feb 2020

CV outbreak lowered China's cotton consumption: USDA

The novel coronavirus (CV) outbreak and its potential ramifications...

Pic: paul prescott / Shutterstock.com

Textiles | On 20th Feb 2020

Sri Lanka's textile exports earn $5.596 bn in 2019

Sri Lanka’s earnings from textiles and garments exports increased by...

Interviews View All

Dharmendra Shah, Ozone PB Spintex Limited

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Textile industry, Head honchos

Textile industry
Head honchos

Quality should be the #1 priority

Mandeep Nagi, Shades of India

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Will Qian,

Will Qian

Honghua Digital Technology Stock Co., Ltd. specialises in the R&D,...

Henk-Jan Rohaan,

Henk-Jan Rohaan

The custom-built machineries of Brugman Holland are known for reliability, ...

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

Leave your Comments


February 2020

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


Advanced Search