Metzingen. In the first nine months of the 2002 fiscal year,
the fashion group HUGO BOSS posted stable sales of 911.1 million EUR
(2001: 910.7 million EUR) despite a difficult market environment.
'Within a global superior menswear market that is still declining
annually by 5-6%, HUGO BOSS AG performed very well during the first
nine months of 2002, with currency-adjusted sales up by 1%',
said Dr. Bruno Saelzer, CEO and Chairman of the Management Board.
The net result for the first three quarters was some 82 million EUR
(2001: 120 million EUR). This figure was impacted by non-recurring and
special effects, for which adjustments were already made
in the first half of 2002.
The free cash flow proved particularly encouraging.
'In the first nine months of 2002, the free cash flow rose to
49.9 million EUR. This key financial indicator reflects both the marked
improvements in the inventory and receivables structures achieved
under difficult market conditions and, to a lesser extent,
the decrease in investments,' Bruno Saelzer said of this development.
Despite the continuing weakness of the market, the Management Board is
anticipating total annual sales at the previous year's level
(2001: 1,095 million EUR) and a net profit
for the year of 70 million EUR.
The full Quarterly Report Q3 is available on our website
under following address:
November 6, 2002
Publication of the Third Quarter Report for 2002
February 20, 2003
Publication of the provisional figures for the
2002 business year
April 3, 2003
Balance Sheet Press Conference and DVFA*
Analysts' Conference in Metzingen, Germany
May 27, 2003
Shareholders' Meeting in Stuttgart, Germany
*German Association of Financial Analysts and Investment Consultants
If you have any questions, please contact:
Director of Communication
November 6, 2002