Hugo Boss 2022 revenues cross 3 billion euros, raises dividend

Hugo Boss announced Wednesday that sales in fiscal year 2022 increased by 27 percent currency-adjusted to 3.7 billion euros. In group currency, that translated to an increase of 31 percent.

The company noted that the robust performance was achieved despite high levels of macroeconomic and geopolitical uncertainty in fiscal year 2022, including global supply chain disruptions, the economic implications of the war in Ukraine, and long-lasting pandemic-related restrictions in China.

For the full-year, the company’s EBIT increased by 47 percent to 335 million euros and its EBIT margin expanded by 100 basis points to 9.2 percent. The group’s gross margin remained stable at 61.8 percent.

Commenting on the annual trading, Daniel Grieder, chief executive officer of Hugo Boss, said: “Thanks to the rigorous execution of our ‘CLAIM 5’ strategy, we made 2022 a record year for our company with broad-based momentum across brands, regions, and consumer touchpoints.

“Most importantly, our bold branding refresh impressively fueled the brand power of Boss and Hugo.”

Hugo Boss expects slowing sales in 2023

For the current year, and against a backdrop of ongoing macroeconomic and geopolitical uncertainty, Hugo Boss expects sales to increase at a mid-single-digit percentage rate, with all regions expected to contribute to growth.

At the same time, the company forecasts that it will increase its EBIT in 2023 within a range of 5 percent to 12 percent to an amount of between 350 million euros and 375 million euros.

The company’s managing and supervisory board intend to propose to the annual shareholders’ meeting on May 9, 2023 a dividend of 1 euro per share for fiscal year 2022, corresponding to an increase of 43 percent year over year.