Hugo Boss net sales up by 9%, currency adjusted 12%
10 May '07
3 min read
Asia and other regions performed similarly in the first quarter of 2007. HUGO BOSS increased sales in this region by 11% in local currency and 4% in the reporting currency to EUR 48 million (Q1 2006: EUR 46 million).
Royalties of the Group performed extremely well, rising a total of 11% to EUR 10 million in the first quarter of fiscal 2007 (Q1 2006: EUR 9 million).
Earnings before interest and taxes (EBIT) improved by 13% over the prior-year period to EUR 99 million in the first quarter of 2007 (Q1 2006: EUR 87 million). Due to ongoing internationalization of HUGO BOSS' business activities, the Group's tax rate fell to 27.8% (Q1 2006: 31.5%). This led to an increase in net income of 18% over the prior-year figure to EUR 70 million in the first quarter of 2007 (Q1 2006: EUR 60 million).
Cash flow rose by 18% to EUR 83 million in the first quarter of the current fiscal year (Q1 2006: EUR 70 million), and free cash flow before dividends amounted to EUR -3 million (Q1 2006: EUR 24 million).
“In the first quarter of 2007, HUGO BOSS continued the positive trend of past fiscal years,” commented Dr. Bruno Sälzer, Chairman of the Managing Board of HUGO BOSS AG. “We are therefore optimistic that we will be able to bring 2007 as a whole to a successful close.”
The Managing Board of HUGO BOSS AG is forecasting currency-adjusted sales growth of 8-10% for the current fiscal year. Earnings before taxes are projected to increase by 12-15%.
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