Hugo Boss Reveals 2024 Financial Performance at Annual Meeting
Metzingen, Monday, 31 March 2025.
Hugo Boss presented its 2024 financial statements, showing a notable increase in sales to EUR 4,307 million and highlighted strategic company adjustments, indicating a 2025 growth trajectory.
Financial Performance Overview
HUGO BOSS AG (LEI: 529900LFVU534EBRXD13) [2] reported a year-over-year sales increase, with revenues reaching EUR 4,307,349 thousand in 2024, compared to EUR 4,197,459 thousand in 2023 [1]. The company maintained a robust gross profit margin of 61.8% in 2024, slightly improving from 61.5% in the previous year [1]. However, operating results (EBIT) showed a decline to EUR 360,821 thousand from EUR 410,337 thousand in 2023 [1].
Shareholder Returns and Corporate Structure
Despite challenging market conditions, HUGO BOSS has proposed a dividend increase to EUR 1.40 per share for 2024, up from EUR 1.35 in 2023 [1]. This comes as earnings per share decreased to EUR 3.09 from EUR 3.74 in the previous year [1]. The company has undergone significant structural changes, reducing its number of consolidated companies by 4 to 61 during 2024 [1].
Strategic Corporate Restructuring
Notable corporate actions in 2024 included strategic mergers of HUGO BOSS International Markets AG into HUGO BOSS Ticino S.A., and the integration of HUGO BOSS Trade Mark Management Verwaltungs-GmbH into HUGO BOSS Nationale Beteiligungsgesellschaft mbH [1]. In a forward-looking move, the company has repositioned Eightyards GmbH (formerly HUGO BOSS Dienstleistung GmbH) to focus on material recycling operations, scheduled to commence in Q1 2025 [1].
Institutional Investment Changes
Recent shareholding changes indicate growing institutional interest, with Bank of America Corporation reporting an increased stake to 5.95% of voting rights as of March 28, 2025, up from 4.67% previously [2]. This position includes both direct shareholdings and various financial instruments, including swaps and options extending into 2027 [2].