Ad-hoc | 30 October 2008 08:42
Hugo Boss AG / Change in Forecast/Quarter Results
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
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The issuer is solely responsible for the content of this announcement.
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Metzingen. The Managing Board of HUGO BOSS AG publishes the key figures for
the first nine months of 2008. The HUGO BOSS fashion group increased total
sales in this period by 3% to EUR 1,364 million. Adjusted for currency
effects, sales increased by 6%.
In the third quarter of 2008, the EBIT was down 8% year-on-year at EUR 199
million (Q1-Q3 2007: EUR 218 million). Adjusted for the effects from the
change to the Managing Board and one-time consultancy expenses, EBIT
decreased by 1% to EUR 216 million. As a result of this and due to higher
interest expenses, Group earnings declined by 17% to EUR 128 million (Q1-Q3
2007: EUR 153 million). At EUR 92 million, operating cash flow was by 35%
significantly above the value of the previous year (Q1-Q3 2007: EUR 67
million).
Key figures of the HUGO BOSS Group:
in € million Jan. – Sep. Jan. – Sep. Veränderung in
2008 2007 %
Sales 1,363.6 1,327.7 3
EBIT before special 215.6 217.7 -1
items
EBIT 199.4 217.7 -8
Earnings before taxes 172.4 212.0 -19
Net income 127.6 153.2 -17
As a result of the general economic situation characterized by ongoing
numerous and unclarified business uncertainties, the HUGO BOSS management
has adjusted its sales and earnings outlook for fiscal year 2008. In the
context of a considerable decline of retail sales in important regions
during the second half of 2008, the HUGO BOSS Managing Board expects that
the currency-adjusted sales growth for the whole of fiscal 2008 will be at
the lower end of the previous 6-8% guidance range. Based on the current
market assessment, EBIT before one-time effects is expected to be slightly
below the level of the previous year, thus achieving a value between EUR
210 and 220 million.
Metzingen, October 30, 2008
The Managing Board
HUGO BOSS AG
Dieselstrasse 12
72555 Metzingen
Germany
For further information on HUGO BOSS AG please visit our website at
www.group.hugoboss.com.
If you have any questions, please contact:
Philipp Wolff
Director of Communication
Phone: +49 (0) 7123 94-2375
Fax: +49 (0) 7123 94-2051
Nicole Besemer
Director of Investor Relations & Treasury
Phone: +49 (0) 7123 94 -2478
Fax: +49 (0) 7123 94-2035
E-Mail: Investor-Relations@hugoboss.com
This document contains forward-looking statements that reflect management's
current views with respect to future events. The words 'anticipate,'
'assume,' 'believe,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,'
'project,' 'should,' and similar expressions identify forward-looking
statements. Such statements are subject to risks and uncertainties. If any
of these or other risks and uncertainties occur, or if the assumptions
underlying any of these statements prove incorrect, then actual results may
be materially different from those expressed or implied by such
statements.We do not intend or assume any obligation to update any
forward-looking statement, which speaks only as of the date on which it is
made.
Contact:
Judith Eckl, Bereichsleiterin Recht
Tel: +49-7123-94 2767
30.10.2008 Financial News transmitted by DGAP
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Language: English
Issuer: Hugo Boss AG
Dieselstraße 12
72555 Metzingen
Deutschland
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, Hannover, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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