HUGO BOSS AG

BOSS
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HUGO BOSS AG: HUGO BOSS RECORDS STRONG TOP- AND BOTTOM-LINE IMPROVEMENTS IN Q3 2021 AND RAISES GUIDANCE FOR FULL YEAR 2021

10/14/2021 | 01:37pm

DGAP-Ad-hoc: HUGO BOSS AG / Key word(s): Quarter Results/Change in Forecast HUGO BOSS AG: HUGO BOSS RECORDS STRONG TOP- AND BOTTOM-LINE IMPROVEMENTS IN Q3 2021 AND RAISES GUIDANCE FOR FULL YEAR 2021 14-Oct-2021 / 19:35 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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Metzingen, October 14, 2021

HUGO BOSS RECORDS STRONG TOP- AND BOTTOM-LINE IMPROVEMENTS IN Q3 2021 AND RAISES GUIDANCE FOR FULL YEAR 2021

- Currency-adjusted Group sales increase 40% to EUR 755 million, up 7% vs. Q3 2019

- EBIT amounts to EUR 85 million, up 3% vs. Q3 2019

- FY 2021 outlook: Currency-adjusted Group sales now expected to increase by around 40% against the prior year; EBIT now expected between EUR 175 million and EUR 200 million In light of a further strong acceleration in its business recovery in the third quarter of 2021, for the first time, HUGO BOSS recorded sales and earnings above pre-pandemic levels, thereby significantly exceeding overall market expectations. On a preliminary basis, currency-adjusted Group sales increased 40% as compared to the prior-year period. In Group currency, revenues were up 42%, totaling EUR 755 million in the three-month period (Q3 2020: EUR 533 million). Compared to the third quarter of 2019, currency-adjusted Group sales increased 7% (Q3 2019: EUR 720 million), driven by a particular strong performance in Europe and the Americas.

In the third quarter of 2021, on a preliminary basis, HUGO BOSS generated an operating profit (EBIT) of EUR 85 million, well above the prior-year level (Q3 2020: EUR 15 million). This development reflects the strong Group sales development as well as operating expense leverage, particularly within own retail. Compared to pre-pandemic levels, EBIT was up 3% (Q3 2019: EUR 83 million).

In light of the strong top- and bottom-line performance in the third quarter, HUGO BOSS increases its outlook for the current fiscal year. The Company now forecasts Group sales in fiscal year 2021 to increase by around 40% currency-adjusted (prior guidance: currency-adjusted increase between 30% and 35%; 2020: EUR 1,946 million), with contribution expected from all regions. EBIT is now forecast to come to a level of between EUR 175 million and EUR 200 million in fiscal year 2021 (prior guidance: between EUR 125 million and EUR 175 million; 2020: minus EUR 236 million).

If you have any questions, please contact: Christian Stöhr Vice President Investor Relations Phone: +49 7123 94-87563 E-mail: christian_stoehr@hugoboss.com

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14-Oct-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

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Language:     English 
Company:      HUGO BOSS AG 
              Dieselstraße 12 
              72555 Metzingen 
              Germany 
Phone:        +49 (0)712 394-0 
Fax:          +49 (0)712 394-80259 
E-mail:       info@hugoboss.com 
Internet:     www.hugoboss.com 
ISIN:         DE000A1PHFF7 
WKN:          A1PHFF 
Indices:      MDAX 
Listed:       Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, 
              Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange 
EQS News ID:  1240968 
 
End of Announcement  DGAP News Service 
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1240968 14-Oct-2021 CET/CEST

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1240968&application_name=news

(END) Dow Jones Newswires

October 14, 2021 13:36 ET (17:36 GMT)

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