Hugo Boss: profit jumps by 22%

Hugo Boss: profit jumps by 22% to 85 million in the fourth quarter

The parent company of German luxury fashion brand Hugo Boss reported a 22% increase in fourth-quarter net profit. The German company's revenue increased to 85 million euros ($93 million) from 70 million euros a year earlier. Earnings per share also saw an increase to 1.23 euros from 1.02 euros a year ago. Earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 2% to 219 million euros, with an improved EBITDA margin of 18.6%.

Quarterly sales showed a significant increase of 10% to 1.18 billion euros, marking growth of 13% on a currency-adjusted basis. The company plans to propose a dividend of 1.35 euros per share for 2023 at the next annual general meeting, which represents a 35% increase compared to the previous year.

In its forecast for the fiscal year 2024, Hugo Boss expects sales growth of between 3% and 6%, reaching approximately 4.3-4.45 billion euros. EBIT is expected to grow between 5% and 15% to a level of approximately €430 million to €475 million, with an EBIT margin target of between 10.0% and 10.7% in 2024. .