March 27, 2008 04:52 ET

HUGO BOSS: Financial Statements for 2007

METZINGEN, GERMANY--(Marketwire - March 27, 2008) -

RESTRICTED UNTIL: 27 March 2008 / 9.30 am

HUGO BOSS: Financial statements for 2007
Sales rise by 9% to EUR 1,632 million
Net income up by 20% to EUR 154 million

Metzingen, March 27, 2008. At the press conference held today in Metzingen, the Managing Board of HUGO BOSS AG presented the annual accounts for the 2007 financial year, which showed an increase in the fashion group's sales of 9% (12% after currency adjustments) to EUR 1,632 million (2006: 1,496 million).

In Germany, HUGO BOSS again saw sales rise by 4% to EUR 361 million (2006: EUR 347 million). In the rest of Europe, sales over the past financial year showed a 12% rise to EUR 762 million (2006: 682 million), with particularly encouraging growth of 37% being recorded in Eastern European markets.

For the American continent, the 2007 accounts recorded a total increase in sales of 18% after currency adjustments or 9% in the reporting currency. Sales in the USA improved by 20% in dollar terms and 10% in Euros to EUR 215 million (2006: EUR 196 million).

Sales in the Asian markets and other regions in the period under review increased by 7% in Euros and 14% after currency adjustments, this being largely attributable to strong growth in China of 22% (33% after currency adjustments) to a total of EUR 42 million (2006: EUR 34 million).

In addition to BOSS Womenswear, where sales rose by 29% to EUR 209 million (2006: EUR 162 million), shoes and leather accessories (up by 16% to EUR 176 million compared with EUR 151 million in 2006) and sales in the Group's directly operated stores (a rise of 25% to EUR 239 compared with EUR 192 million in 2006) accounted for a significant proportion of the encouraging trend of sales.

According to Joachim Reinhardt, Chief Financial Officer of HUGO BOSS AG, "HUGO BOSS has achieved top marks in the 2007 financial year, with particularly pleasing success not only in the defined growth areas of BOSS Womenswear, shoes and leather accessories and the company's own retail stores, but also in terms of the company's continued regional expansion. Currency-adjusted sales have risen by double-digit increases in percentage terms in all major regions."

Earnings before interest and taxes (EBIT) increased by 19% to EUR 220 million (2006: EUR 184 million), with especially encouraging improvement in the EBIT in the womenswear sector, which doubled to a total of EUR 23 million from EUR 11 million in 2006. Group profits rose by 20% to EUR 154 million (2006: EUR 129 million), with cash flow improving by 17% to EUR 219 million (2006: EUR 186 million).

Further information on HUGO BOSS AG can be found on our website:

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