Hugo Boss AG (HUGSF.PK), a German luxury fashion company, reported Thursday weak net profit in its fourth quarter, while operating result and EBITDA, key earnings metrics, increased from last year with higher sales. Looking ahead, the company projects profitability to increase in fiscal 2025, despite challenging market conditions. The company also announced higher dividend.
In its fourth quarter, net income attributable to equity holders of the parent company fell 2 percent to 84 million euros from last year's 85 million euros. Earnings per share were 1.21 euros, down 2 percent from 1.23 euros a year ago.
Operating result or EBIT, however, grew 4 percent from last year to 126 million euros, and EBITDA climbed 25 percent to 273 million euros. EBITDA margin improved 330 basis points to 21.9 percent.
Sales increased 6 percent to 1.25 billion euros from last year's 1.18 billion euros. Currency-adjusted sales increased 6 percent.
Further, the Managing Board and the Supervisory Board intend to propose to the Annual General Meeting on May 15 a dividend of 1.40 euros per share for fiscal year 2024, an increase of 4 percent from the prior-year level.
Looking ahead, for fiscal 2025, the company projects net income to increase in line with EBIT. For the year, EBIT is projected to increase between 5 percent and 22 percent to 380 million euros and 440 million euros from prior year's 361 million euros.
EBIT margin would grow to a level of between 9.0 percent and 10.0 percent, supported by further efficiency gains.
Group sales are expected to remain broadly in line with prior year, ranging between 4.2 billion euros and 4.4 billion euros, between down 2 percent and up 2 percent, from last year's 4.31 billion euros.
The company said macroeconomic and geopolitical volatility would remain elevated in 2025, with business performance impacted by subdued consumer sentiment.
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