Annual Report 2020

Ten-Year-Overview

 

 

20201

 

20192

 

2018

 

2017

 

2016

 

2015

 

2014

 

2013

 

2012

 

2011

Net sales (in EUR million)

 

1,946

 

2,884

 

2,796

 

2,733

 

2,693

 

2,809

 

2,572

 

2,432

 

2,346

 

2,059

Net sales by segments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Europe incl. Middle East and Africa

 

1,231

 

1,803

 

1,736

 

1,681

 

1,660

 

1,683

 

1,566

 

1,457

 

1,378

 

1,245

Americas

 

308

 

560

 

574

 

577

 

582

 

671

 

587

 

570

 

559

 

455

Asia/Pacific

 

343

 

438

 

410

 

396

 

382

 

393

 

361

 

347

 

353

 

309

Licenses

 

64

 

84

 

76

 

79

 

69

 

62

 

58

 

58

 

56

 

50

Net sales by distribution channel

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Group’s own retail business

 

1,279

 

1,869

 

1,768

 

1,732

 

1,677

 

1,689

 

1,471

 

1,314

 

1,150

 

924

Wholesale

 

603

 

931

 

952

 

922

 

947

 

1,058

 

1,043

 

1,060

 

1,140

 

1,085

Licenses

 

64

 

84

 

76

 

79

 

69

 

62

 

58

 

58

 

56

 

50

Results of operations (in EUR million)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross profit

 

1,187

 

1,875

 

1,823

 

1,808

 

1,777

 

1,853

 

1,699

 

1,580

 

1,444

 

1,252

Gross profit margin in %

 

61.0

 

65.0

 

65.2

 

66.2

 

66.0

 

66.0

 

66.1

 

64.9

 

61.6

 

60.8

EBIT

 

(236)3

 

344

 

347

 

341

 

263

 

448

 

449

 

456

 

432

 

395

EBIT margin in %

 

(12.1)4

 

11.9

 

12.4

 

12.5

 

9.8

 

15.9

 

17.4

 

18.7

 

18.4

 

19.1

EBITDA

 

230

 

707

 

476

 

499

 

433

 

590

 

572

 

561

 

524

 

468

Net income attributable to equity holders of the parent company

 

(219)5

 

205

 

236

 

231

 

194

 

319

 

333

 

329

 

307

 

285

Net assets and liability structure as of December 31 (in EUR million)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade net working capital

 

491

 

528

 

537

 

459

 

524

 

528

 

503

 

432

 

409

 

400

Non-current assets

 

1,516

 

1,713

 

686

 

662

 

752

 

765

 

660

 

612

 

588

 

503

Equity

 

760

 

1,002

 

981

 

915

 

888

 

956

 

844

 

740

 

632

 

517

Equity ratio in %

 

30

 

35

 

53

 

53

 

49

 

53

 

51

 

49

 

40

 

36

Total assets

 

2,570

 

2,877

 

1,858

 

1,720

 

1,799

 

1,800

 

1,662

 

1,501

 

1,577

 

1,420

Financial position and dividend (in EUR million)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Free cash flow

 

164

 

457

 

170

 

294

 

220

 

208

 

268

 

230

 

221

 

195

Net financial liabilities (as of December 31)

 

1,004

 

1,040

 

22

 

7

 

113

 

82

 

36

 

57

 

130

 

149

Capital expenditure

 

80

 

192

 

155

 

128

 

157

 

220

 

135

 

185

 

166

 

108

Depreciation/amortization

 

4656

 

362

 

129

 

158

 

169

 

142

 

123

 

105

 

92

 

73

Total leverage (as of December 31)7

 

(6.7)

 

0.2

 

0.0

 

0.0

 

0.2

 

0.1

 

0.1

 

0.1

 

0.2

 

0.3

Amount distributed

 

38

 

39

 

186

 

183

 

179

 

250

 

250

 

231

 

215

 

199

Additional key figures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Employees (as of December 31)10

 

13,759

 

14,633

 

14,685

 

13,985

 

13,798

 

13,764

 

12,990

 

12,496

 

11,852

 

11,004

Personnel expenses (in EUR million)

 

570

 

640

 

629

 

604

 

605

 

563

 

514

 

483

 

450

 

374

Number of Group´s own retail stores

 

1,157

 

1,113

 

1,092

 

1,139

 

1,124

 

1,113

 

1,041

 

1,010

 

840

 

622

Shares (in EUR)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ordinary share

 

(3.18)11

 

2.97

 

3.42

 

3.35

 

2.80

 

4.63

 

4.83

 

4.77

 

4.44

 

4.12

Preferred share

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

4.13

Dividend per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ordinary share

 

0.048

 

0.049

 

2.70

 

2.65

 

2.60

 

3.62

 

3.62

 

3.34

 

3.12

 

2.88

Preferred share

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

2.89

Last share price (as of December 31)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ordinary share

 

27.29

 

43.26

 

53.92

 

70.94

 

58.13

 

76.60

 

101.70

 

103.50

 

79.80

 

55.19

Preferred share

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

56.90

Number of shares (as of December 31)

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

Ordinary share

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

 

70,400,000

 

35,860,000

Preferred share

 

0

 

0

 

0

 

0

 

0

 

0

 

0

 

0

 

0

 

34,540,000

1

Including non-cash impairment charges in the amount of EUR 110 million related to the negative impact of COVID-19 on the Group’s retail business.

2

The application of IFRS 16 in fiscal year 2019 partially limits the comparability of some performance indicators towards the prior-year figures. Additional information on the first–time application of IFRS 16 are presented in the Annual Report 2019.

3

Excluding non-cash impairment charges, EBIT amounted to minus EUR 126 million.

4

Excluding non-cash impairment charges, EBIT margin amounted to (6.5)%.

5

Excluding non-cash impairment charges, net income amounted to minus EUR 131 million.

6

Excluding non-cash impairment charges, depreciation and amortization amounted to EUR 355 million.

7

Net financial liabilities/EBITDA excluding the impact of IFRS 16

8

2020: In light of the persisting high uncertainty with regard to the COVID-19 pandemic, the Managing Board and Supervisory Board of HUGO BOSS intend to propose to the Annual Shareholders’ Meeting to only pay the legal minimum dividend of EUR 0.04 per share for fiscal year 2020.

9

2019: Against the backdrop of the negative implications of the pandemic, HUGO BOSS suspended its dividend payment for fiscal year 2019, with the exception of the legal minimum dividend of EUR 0.04 per share.

10

Full-time equivalent (FTE).

11

Excluding non-cash impairment charges, EPS amounted to minus EUR 1.90.

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