HUGO BOSS AG / Key word(s): Preliminary Results/Change in Forecast
14.07.2011 20:30
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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The Managing Board of HUGO BOSS AG publishes preliminary results for the
first half of 2011.
(in EUR million) First half of 2011 First half of 2010 Change in %
Sales: 945 769 +23%
EBITDA before
special items: 195 123 +58%
Net income attributable
to shareholders:: 113 63 +80%
After adjustment for currency effects, the Group now anticipates an
increase in sales of 15% to 17% for the year as a whole. EBITDA before
special items is expected to rise by 25% to 30%.
Metzingen, July 14, 2011
The Managing Board
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Information and Explaination of the Issuer to this News:
Metzingen, July 14, 2011. HUGO BOSS today announced preliminary results for
the first half of 2011. At the same time, the Group increased its
expectations for sales and profits for the year as a whole.
In the second quarter of 2011, Group sales amounted to EUR 405 million,
equivalent to a rise of 29% after adjustment for currency effects, or 25%
in the reporting currency (2010: EUR 325 million). This positive
development was due primarily to the comp store sales growth in the Group's
own retail business and the expansion of the Group's own retail activities.
The most significant increase in sales was posted in China and in the US
market. EBITDA before special items rose to EUR 63 million in the second
quarter (2010: EUR 31 million). Net income attributable to shareholders
amounted to EUR 31 million, significantly above the previous year's level
of EUR 6 million.
HUGO BOSS thus generated sales of EUR 945 million in the first half of 2011
(2010: EUR 769 million). In comparison to the previous year, this
represents a rise of 23% both after adjustment for currency effects and in
the reporting currency. EBITDA before special items rose by 58% to EUR 195
million in this period (2010: EUR 123 million), while net income
attributable to shareholders climbed by 80% to EUR 113 million (2010: EUR
63 million).
In view of the stronger than expected results in the past quarter, the
Group is raising its forecasts for the year as a whole. After adjustment
for currency effects, an increase in sales of 15% to 17% (previously: at
least 12%) is now anticipated. EBITDA before special items is expected to
rise by 25% to 30% (previously: increase of at least 15%).
Details on the results of the past quarter and on the outlook for the
current fiscal year will be announced by the Group in its presentation of
the half year results on July 28, 2011.
Further information on HUGO BOSS AG can be found at
www.hugoboss.com.
Should you have any queries, please contact:
Dr. Hjördis Kettenbach
Head of Corporate Communication
Phone: +49 (0) 7123 94-2375
Fax: +49 (0) 7123 94-2051
Dennis Weber
Head of Investor Relations
Phone: +49 (0) 7123 94-1326
E-mail: Investor-Relations@hugoboss.com
14.07.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: HUGO BOSS AG
DieselstraÃe 12
72555 Metzingen
Germany
Phone: +49 (0)712 394-0
Fax: +49 (0)712 394-2014
E-mail: info@hugoboss.com
Internet: www.hugoboss.com
ISIN: DE0005245534, DE0005245500,
WKN: 524553, 524550,
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München
End of Announcement DGAP News-Service
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DGAP-Adhoc: HUGO BOSS AG: Publication of preliminary results for first half of 2011 and change in forecast
| Source: EQS Group AG