HUGO BOSS AG / Key word(s): Quarter Results/Forecast
HUGO BOSS records strong top- and bottom-line improvements in Q2 2021 and provides financial guidance for fiscal year 2021
- Currency-adjusted Group sales increase 133% to EUR 629 million
- EBIT amounts to EUR 42 million in the second quarter
- FY 2021 outlook: Currency-adjusted Group sales to grow between 30% and 35%; EBIT expected between EUR 125 million and EUR 175 million
Metzingen, July 13, 2021. In light of a further strong business recovery, HUGO BOSS recorded significant top- and bottom-line improvements in the second quarter of 2021, thereby exceeding overall market expectations. On a preliminary basis, currency-adjusted Group sales increased 133% as compared to the prior-year period. Also in Group currency, sales more than doubled, up 129% to EUR 629 million in the three-month period (Q2 2020: EUR 275 million). Compared to the second quarter of 2019, the decline in Group sales was therefore limited to 4% only, currency-adjusted.
In the second quarter of 2021, on a preliminary basis, HUGO BOSS generated operating profit (EBIT) of EUR 42 million (Q2 2020: minus EUR 250 million), reflecting the strong Group sales development as well as ongoing tight overhead cost control in the three-month period. In addition, the non-recurrence of negative inventory valuation effects and impairment charges recorded in the prior-year quarter also contributed to this development.
Despite the persisting uncertainties regarding the further development of the pandemic, HUGO BOSS is confident that the Company's overall business recovery will continue in the second half of 2021. Consequently, HUGO BOSS forecasts Group sales in fiscal year 2021 to increase by between 30% and 35% currency-adjusted (2020: EUR 1,946 million), with contribution expected from all regions. EBIT is forecast to come to between EUR 125 million and EUR 175 million in fiscal year 2021 (2020: minus EUR 236 million).
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13-Jul-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
HUGO BOSS AG
+49 (0)712 394-0
+49 (0)712 394-80259
Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange
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