Admin l Thursday, March 09, 2023
FRANKFURT – German luxury fashion firm Hugo Boss on Thursday reported a big rise in earnings for 2022 but predicted the pace of sales growth would slow this year.
Currency-adjusted group sales increased 27% to a record €3.7 billion, with the growth “broad-based” and across all regions, said the fashion house, which recently rebranded into different labels appealing to different market segments, HUGO and BOSS.
For the 12-month period to December 31, the company posted a net income of €221.858 million or €3.04 per share, compared with €144.125 million or €1.99 per share of 2021.
Pre-tax earnings were at €285.295 million, higher than last year’s €196.874 million. The operating result stood at €335.419 million, versus €228 million a year ago.
Hugo Boss intends to pay a dividend of €1 per share for 2022, higher than last year’s dividend of €0.70 per share.
Looking ahead to 2023, the company expects its operating result, or EBIT, to rise by 5% to 12% to €350 million to €375 million.
For the 12-month period, the group projects its sales to increase by a mid-single-digit percentage, lower than double-digits in 2022.
