Hugo Boss Ag · XETR:BOSS
Hugo Boss — Investor Presentation (December 2025)
113 slides from Hugo Boss's investor presentation, December 2025
Slide 1: Investor Meeting Presentation
INVESTOR MEETING PRESENTATION © 2022 HUGO BOSS
Slide 2: Agenda
AGENDA 01 CL AIM 5 TOUCHDOWN 02 Q3 2025 RESULTS 03 FY 2025 OUTLOOK 04 GENERAL INFORMATION © 2022 HUGO BOSS
Slide 3: From Great to Excellence: Strategy Update 2025
FROM GREAT TO EXCELLENT STRATEGY UPDATE 2025
Slide 4: Since the launch of CLAIM 5, we achieved record results and rebuilt our brands
PAGE 4 SINCE THE LAUNCH OF CLAIM 5, WE ACHIEVED RECORD RESULTS AND REBUILT OUR BRANDS © HUGO BOSS
Slide 5: We surpassed our original €4B sales target in 2023
PAGE 5 WE SURPASSED OUR ORIGINAL €4B SALES TARGET IN 2023 - TWO YEARS AHEAD OF PLAN 4.2 4.3 3.7 SALES SALES CAGR (IN EUR BILLION) 2020 – 2024: 2.9 2.8 2.8 2.8 2.7 2.7 +22 % CLAIM 5 1.9 EBIT MARGIN MARKET 15.9% SHARE * CAGR 12.5% 12.4% 11.9% 2020 – 2024: 9.8% 8.2% 9.2% 9.8% 8.4% +11% 2015 2016 2017 2
Slide 6: We put consumers at the top and turned them into true fans
PAGE 6 WE PUT CONSUMERS AT THE TOP AND TURNED THEM INTO TRUE FANS +13M NEW FOLLOWERS +8 M NEW MEMBERS SINCE 2021 SINCE 2021 © HUGO BOSS
Slide 7: BOSS and HUGO successfully repositioned
PAGE 7 BOSS AND HUGO SUCCESSFULLY REPOSITIONED #BEYOUROWN BOSS # HUGO YOURWAY NEW VISUAL MODERN UPDATED RE FRESHED IDENTITIES CAMPAIGNS LOGOS STORES © HUGO BOSS
Slide 8: We introduced new brand lines
PAGE 8 WE INTRODUCED BOSS MEN NEW BRAND LINES RANGING HUGO FROM LUXURIOUS BOSS WOMEN TO BOLD STYLES © HUGO BOSS
Slide 9: We invested into quality and craftsmanship
PAGE 9 WE SIGNIFICANTLY INVESTED INTO QUALITY AND CRAFTSMANSHIP, AND IMPROVED PRICE -VALUE PROPOSITION © HUGO BOSS
Slide 10: CLAIM 5 made us omnipresent and agile
PAGE 10 CLAIM 5 MADE US OMNIPRESENT AND AGILE DIRECT -TO -CONSUMER PARTNERS RETAIL RETAIL HB.COM DIGITAL DEPARTMENT FRANCHISE STORES OUTLETS AND APP PLAYERS STORES STORES © HUGO BOSS
Slide 11: Key financial achievements of our CLAIM 5 strategy
PAGE 11 KEY FINANCIAL ACHIEVEMENTS OF OUR CLAIM 5 STRATEGY STRONG ACCELERATION UNDERLYING GROSS MARGIN SUCCESSFUL OPEX IN TOP -LINE GROWTH IMPROVEMENT DESPITE ALIGNMENT WITH SLOWING (22% CAGR 2020 – 2024) MARKET CHALLENGES MARKET TRENDS (2020 : 61.0%; 202 4: 61.8% ) SUBSTANTIAL CAPEX PROGRESSIVE DIV
Slide 12: The world is becoming less global, fragmented and volatile
PAGE 12 SINCE THE LAUNCH OF CLAIM 5 , THE WORLD IS BECOMING LESS GLOBAL, INCREASINGLY FRAGMENTED, AND VOLATILE © HUGO BOSS
Slide 13: CLAIM 5 TOUCHDOWN: Focus on Excellence
PAGE 13 THIS IS CLAIM FOCUS ON EXCELLENCE © HUGO BOSS
Slide 14: Touchdown stands for excellence through refocus and realignment
PAGE 14 TOUCHDOWN IT’S ABOUT STANDS FOR FOCUSING ON EXCELLENCE WHERE WE THROUGH HAVE NOT YET REFOCUS ACHIEVED OUR AND INITIAL REALIGNMENT OBJECTIVES BEFORE SCALING AND ACCELERATING AGAIN © HUGO BOSS
Slide 15: Our vision and our mission
PAGE 15 OUR VISION OUR MISSION BECOME THE PREMIUM WE LOVE FASHION TECH -DRIVEN, WE CHANGE FASHION CUSTOMER -CENTRIC GLOBAL FASHION PLATFORM © HUGO BOSS
Slide 16: We will focus on three fields of excellence
PAGE 16 WE WILL FOCUS ON THREE FIELDS OF EXCELLENCE BRAND DISTRIBUTION OPERATIONAL EXCELLENCE EXCELLENCE EXCELLENCE © HUGO BOSS
Slide 17: Brand Excellence
PAGE 17 BRAND EXCELLENCE © HUGO BOSS
Slide 18: Focus on brand elevation and leverage 24/7 lifestyle positioning
PAGE 18 FOCUS ON BRAND ELEVATION AND LEVERAGE 24/7 LIFESTYLE POSITIONING © HUGO BOSS
Slide 19: From recognized brands to desired brands
PAGE 19 FROM RECOGNIZED BRANDS TO DESIRED BRANDS AMPLIFY BRAND DRIVE FULL -FUNNEL ACTIVATE EQUITY THROUGH ENGAGEMENT TO PRODUCT -LED STRATEGIC CONVERT STORYTELLING FOR PARTNERSHIPS AWARENESS INTO IMPACTFUL PURCHASE INTENT CAMPAIGNS DRIVE BRAND EQUITY MARKETING INVESTMENTS AS A % OF SALES ~7 % © HUGO
Slide 20: High-impact collaborations and partnerships to reinforce brand relevance
PAGE 20 WE WILL INVEST IN HIGH -IMPACT COLLABORATIONS AND PARTNERSHIPS TO REINFORCE BRAND RELEVANCE BRAND FASHION HIGH -IMPACT PRODUCT KEY SPORTS HOLIDAY CAMPAIGN SHOW PARTNERSHIPS MOMENTUM PARTNERSHIPS CAMPAIGNS TELLING RELATABLE STORIES OF AUTHENTIC CHARACTERS © HUGO BOSS
Slide 21: Full-funnel engagement to convert awareness into purchase intent
PAGE 21 WE WILL DRIVE FULL -FUNNEL ENGAGEMENT TO CONVERT AWARENESS INTO PURCHASE INTENT AND LOYALTY AWARENESS INTEREST CONSIDERATION CONVERSION LOYALTY INVITE CONSUMERS TO BECOME PART OF THE BRAND STORY © HUGO BOSS
Slide 22: Activate product-led storytelling to inspire, connect and convert
PAGE 22 WE WILL ACTIVATE PRODUCT -LED STORYTELLING TO INSPIRE, CONNECT AND CONVERT BRAND CAMPAIGN INSPIRE CONNECTING EVERY COMMERCIAL COLLABORATIONS BRAND MOMENTS LAYER BACK CONNECT SPORTS MOMENTS TO THE CULTURE BRAND PRODUCT CAMPAIGNS CONVERT PARTNERSHIPS CATEGORY PUSHES © HUGO BOSS
Slide 23: Our future will be built on purpose, relevance and aspiration
PAGE 23 OUR FUTURE WILL BE BUILT ON PURPOSE, RELEVANCE, AND ASPIRATION. © HUGO BOSS
Slide 24: Bold moves to become real women's & men's powerhouses
PAGE 24 BOLD MOVES WOMEN TO BECOME REAL WOMEN’S & MEN’S POWERHOUSES DEDICATED LEADERSHIP PER GENDER MEN TRUE SPECIALIST UNDER ONE ROOF TO LEVERAGE GENDER - SPECIFIC KNOW - HOW FOSTER COLLABORATION TO IMPROVE EFFICIENCY AND UNLOCK UNTAPPED SYNERGIES © HUGO BOSS
Slide 25: BOSS Men remains our core business
PAGE 25 BOSS MEN REMAINS OUR CORE BUSINESS AND THE FUTURE GLOBAL GROWTH ENGINE © HUGO BOSS
Slide 26: We built a true 24/7 lifestyle brand
PAGE 26 WE BUILT A TRUE 24/7 LIFESTYLE BRAND BOSS CAMEL BOSS ORANGE FUEL BRAND STRENGTHEN ELEVATION WITH CASUAL LIFESTYLE WORLD -RENOWNED POSITIONING CRAFTSMANSHIP BOSS BLACK BOSS GREEN MAINTAIN POSITION LEVERAGE THE WITH ICONIC TAILORING ACTIVEWEAR & MODERN LIFESTYLE MOMENTUM © HUGO BOSS
Slide 27: Our focus for BOSS Men
PAGE 27 OUR FOCUS FOR BOSS MEN LEAD THE 24/7 MAKE THE SHARPEN OUR TAKE THE STREAMLINE LIFESTYLE BIG BIGGER OFFER MOMENTUM ASSORTMENT become the leading expand beyond establish clear keep focusing on simplify complexity premium lifestyle tailoring with focus brand lines; shoes, accessories, to drive
Slide 28: CLAIM 5 modernized BOSS Women
PAGE 28 CLAIM 5 MODERNIZED BOSS WOMEN BUT WE STILL NEED TO SHARPEN BRAND POWER TO REACH OUR GOALS © HUGO BOSS
Slide 29: Identity before growth
PAGE 29 IDENTITY BEFORE GROWTH CLEAR CONSISTENT RELEVANT DEFINE OUR BUILD AUTHENTIC DESIGN WITH OUR FEMALE OWN DNA BRAND POSITIONING CONSUMER IN MIND BE PRECISE AND OFFER COHESIVE PRODUCT CATER TO WOMEN WHO CONFIDENT ABOUT WHAT ASSORTMENT WITH ALIGN WITH OUR DNA WE STAND FOR EVERYDAY ESSENTIALS © HU
Slide 30: Our focus for BOSS Women
PAGE 30 OUR FOCUS FOR BOSS WOMEN IDENTITY BUILD DEFINE HERO CORE REGION THINK WOMEN BEFORE EMOTIONAL AND CORE AND FOR WOMEN GROWTH CONNECTION PRODUCTS DISTRIBUTION sharpen positioning emphasize the new refine style by focus on Europe as strengthen the to transform BOSS brand messaging building hero
Slide 31: Sharpen HUGO to reignite relevance and brand heat
PAGE 31 SHARPEN HUGO TO REIGNITE RELEVANCE AND BRAND HEAT © HUGO BOSS
Slide 32: HUGO: realign the brand for profitable growth
PAGE 32 REALIGN THE BRAND FOR PROFITABLE GROWTH ONE COHERENT BRAND IDENTITY BUILT ON OUR HERITAGE OUR STRENGTH LAYS IN TAILORING AND CONTEMPORARY FASHION COMMERCIAL AND INCLUSIVE TARGETING A WIDE AUDIENCE FIRST TOUCHPOINT PRODUCT OFFER HUGO IS FOR AMBITION TO OUR BRAND UNIVERSE © HUGO BOSS
Slide 33: A seamless blend between HUGO Red and Blue
PAGE 33 A SEAMLESS BLEND BETWEEN HUGO RED AND BLUE WORK CELEBRATE HANGOUT EXPLORE RELAX HUGO FOR EVERY OCCASION © HUGO BOSS
Slide 34: Our focus for HUGO
PAGE 34 OUR FOCUS FOR HUGO STRENGTHEN REFINE BRAND UNIFY HUGO ELEVATE CORE REGIONS THE BRAND POSITIONING LINES DISTRIBUTION sharpen brand realign the field of align existing brand optimize footprint to focus on regional identity to play by being more lines ensuring one drive profitability opportunit
Slide 35: Optimizing our product assortment
PAGE 35 OPTIMIZING OUR PRODUCT ASSORTMENT REDUCE COLLECTION COMPLEXITY BOSS MEN SIMPLIFY SEASONAL OFFER TO CREATE A MORE STYLE COMPLEXITY DEVELOPMENT FOCUSED AND IMPACTFUL ASSORTMENT - 25 % 2020 DO LESS WITH BIGGER IMPACT CONCENTRATE ON FEWER STYLES TO DELIVER GREATER VALUE AND RESONANCE WITH CUSTOM
Slide 36: Distribution Excellence
PAGE 36 DISTRIBUTION EXCELLENCE © HUGO BOSS
Slide 37: Elevate the global brand experience
PAGE 37 CONTINUE TO DRIVE RETAIL PERFORMANCE ELEVATE THE GLOBAL BRAND EXPERIENCE LEAD IN WHOLESALE THROUGH STRATEGIC PARTNERSHIPS WITH A HIGH -QUALITY OPTIMIZE OUR ONLINE BUSINESS AND DISTRIBUTION FURTHER INVEST IN CONTENT ASSETS STRATEGY STRENGTHEN ING OUR POSITION IN EUROPE , WHILE FOCUS ING ON U.
Slide 38: Rationalize our store portfolio to improve profitability
PAGE 38 RATIONALIZE OUR STORE PORTFOLIO TO IMPROVE OVERALL PROFITABILITY OPTIMIZE RENT -TO -SALES THROUGH RENEGOTIATIONS UP TO 50 ALIGN PAY -TO -SALES CLOSINGS OF TO STORE TRAFFIC FREESTANDING STORES CLOSE STORES 2024 VS. 2028 WHICH CONSISTENTLY UNDERPERFORM © HUGO BOSS
Slide 39: Boosting productivity in retail
PAGE 39 BOOSTING PRODUCTIVITY IN RETAIL ▪ CAPITALIZE ON KEY COMMERCIAL OPPORTUNITIES ▪ CONTINUE LEVERAGING SMART PRICE INCREASES ▪ STRENGTHEN RELATIONSHIPS WITH CONSUMERS THROUGH LOYALTY PROGRAM © HUGO BOSS
Slide 40: Lead in wholesale through strategic partnerships
PAGE 40 LEAD IN WHOLESALE THROUGH STRATEGIC PARTNERSHIPS WIN WITH THE WINNERS OPTIMIZE ASSORTMENT EFFICIENCY UNLOCK FRANCHISE OPPORTUNITIES © HUGO BOSS
Slide 41: Fuel growth with key franchise partners
PAGE 41 FUEL GROWTH WITH KEY FRANCHISE PARTNERS SEAMLESS INTEGRATION INTO OMNICHANNEL UNIVERSE TO ENSURE CONSISTENT CUSTOMER EXPERIENCE FOCUS ON EMERGING MARKETS, ~390 ~550 WESTERN EUROPE, LATIN AMERICA AND FRANCHISE STORES FRANCHISE STORES 2024 2028 © HUGO BOSS
Slide 42: Optimize our online business to unlock further growth
PAGE 42 WE WILL OPTIMIZE OUR ONLINE BUSINESS AMPLIFY TWO -BRAND STRATEGY ON OUR DIGITAL FLAGSHIP HUGOBOSS.COM TO UNLOCK FURTHER GROWTH OPTIMIZE PERFORMANCE MARKETING BY LEVERAGING DATA INSIGHTS REINFORCE STRICT ASSORTMENT GUIDELINES FOR HUGOBOSS.COM AND DIGITAL PARTNERS ENHANCE CUSTOMER EXPERIENCE W
Slide 43: Strengthen the U.S. and China to turn them into regions of excellence
PAGE 43 STRENGTHEN THE U.S. AND CHINA TO TURN THEM INTO REGIONS OF EXCELLENCE AND USE OPPORTUNITIES IN EMERGING MARKETS CONTINUE BUILDING ON EUROPE TO FURTHER INCREASE MARKET SHARE
Slide 44: The U.S.: profitability before growth
PAGE 44 THE U.S. PROFITABILITY BEFORE GROWTH OPTIMIZE OUR DISTRIBUTION FOOTPRINT POTENTIAL WITH FOCUS ON FULL -PRICE SALES LOCALIZED MARKETING APPROACH € 190 B U.S. MARKET SHARE: ~0.5% U.S. EUROPE ADDRESSABLE MARKET SHARE: MARKET* ~2.8% INCREASE B&M RETAIL, CAPEX, AND MARKETING EFFICIENCIES *FY25E P
Slide 45: China: lay foundation for future growth potential
PAGE 45 CHINA LAY FOUNDATION FOR FUTURE GROWTH POTENTIAL OPTIMIZE OUR RETAIL PORTFOLIO BOOST SOCIAL COMMERCE € 133B CHINA MARKET SHARE: ~0.2% CHINESE EUROPE ADDRESSABLE MARKET SHARE: MARKET* ~2.8% INCREASE BRAND EQUITY WITH LOCALIZED APPROACH *FY25E Premium & Luxury Market incl. Apparel, Footwear, A
Slide 46: Emerging markets: seize opportunities
PAGE 46 EMERGING MARKETS SEIZE OPPORTUNITIES EXPLORE MARKET OPPORTUNITIES POTENTIAL BEYOND UAE ACTIVATE LOCAL BRAND PRESENCE € 29 B EMERGING MARKETS MARKET EMERGING SHARE: ~0.8% MARKETS ADDRESSABLE EUROPE MARKET* MARKET SHARE: DEVELOP FRANCHISE OPPORTUNITIES ~2.8% *FY25E Premium & Luxury Market incl
Slide 47: Operational Excellence
PAGE 47 OPERATIONAL EXCELLENCE © HUGO BOSS
Slide 48: Driving operational excellence along our value chain
PAGE 48 D RIVING OPERATIONAL EXCELLENCE ALONG OUR VALUE CHAIN SMART AGILE OPERATIONAL AUTOMATED LEAN DECISIONING PLANNING EFFICIENCY LOGISTICS BACK - OFFICE Empowering faster Drive agil ity in Leveraging Expansion of highly S treamline back - and smarter planning to economies of scale automated glob
Slide 49: Leveraging our investments to fuel long-term profitable growth
PAGE 49 THROUGH CLAIM 5 TOUCHDOWN , WE ARE NOW LEVERAG ING OUR INVESTMENTS TO FUEL LONG -TERM PROFITABLE GROWTH © HUGO BOSS
Slide 50: CLAIM 5 TOUCHDOWN will elevate our operational excellence
PAGE 50 CLAIM 5 TOUCHDOWN WILL ELEVATE OUR OPERATIONAL EXCELLENCE GROSS MARGIN OPERATING CAPITAL INVENTORY DRIVING EXPENSES EXPENDITURE LEVELS SUSTAINABLE ENHANCING TARGETING OPTIMIZING TRADE MARGIN EFFICIENCY ACROSS NORMALIZED NET WORKING IMPROVEMENTS THE ORGANIZATION INVESTMENT LEVELS CAPITAL LEVE
Slide 51: Financial Ambition
PAGE 51 FINANCIAL AMBITION © HUGO BOSS
Slide 52: Our future model for shareholder returns
PAGE 52 OUR FUTURE MODEL FOR SHAREHOLDER RETURNS BRAND EXCELLENCE + DISTRIBUTION EXCELLENCE + OPERATIONAL EXCELLENCE = MEANINGFUL FREE CASH FLOW GENERATION & STRONG SHAREHOLDER VALUE CREATION © HUGO BOSS
Slide 53: Brand excellence: drive brand elevation and gross margin
PAGE 53 BRAND EXCELLENCE DRIVE BRAND ELEVATION AND GROSS MARGIN HIGHER SHARE STRATEGIC PRICE MARKETING OF FULL -PRICE INCREASES TO INVESTMENTS SALES IN RETAIL ENHANCE GROSS TARGETED AT AND LOWER MARGIN ~7% OF SALES MARKDOWNS © HUGO BOSS
Slide 54: Distribution excellence: more selective, drive profitability
PAGE 54 DISTRIBUTION EXCELLENCE MORE SELECTIVE, DRIVE PROFITABILITY CAREFUL REVIEW SELECTIVE SEAMLESS OF OWN STORE WHOLESALE INTEGRATION OF NETWORK DISTRIBUTION FRANCHISE BY ASSORTMENT INTO SEGMENTATION OMNICHANNEL UNIVERSE © HUGO BOSS
Slide 55: Operational excellence: lift margins and cash generation
PAGE 55 OPERATIONAL EXCELLENCE L IFT MARGINS AND CASH GENERATION GROSS MARGIN DISCIPLINED INVENTORY AND IMPROVEMENTS OPEX CAPITAL THROUGH MANAGEMENT TO OPTIMIZATION SOURCING DRIVE OPERATING TO BOOST CASH EFFICIENCIES LEVERAGE GENERATION © HUGO BOSS
Slide 56: Sales: 2026 refocus
PAGE 56 SALES 2026 REFOCUS DECLINE IN THE MID - TO HIGH - SINGLE -DIGIT RANGE* DRIVERS 2020 2021 2022 2023 2024 2025E 2026E 2027E 2028E GROUP SALES (IN EUR BILLION) *Currency -adjusted
Slide 57: Sales: return to growth and accelerate
PAGE 57 SALES 2027 GROW 2028 ACCELERATE RETURN TO GROWTH AND ACCELERATE DRIVERS 2020 2021 2022 2023 2024 2025E 2026E 2027E 2028E GROUP SALES (IN EUR BILLION)
Slide 58: Gross margin improvements targeted through 2028
PAGE 58 GROSS MARGIN IMPROVEMENTS TARGETED THROUGH 2028 DRIVERS STRATEGIC PRICING ~62% SOURCING EFFICIENCY FULL -PRICE S ELL -THROUGH LOWER MARKDOWNS 2025 E 2026 E 2027 E 2028 E
Slide 59: Levers for operating leverage: retail efficiency
PAGE 59 LEVERS FOR OPERATING LEVERAGE STREAMLINE THE OPTIMIZE STORE PORTFOLIO TO NETWORK WITH STRENGTHEN FOCUS ON RENT -TO - PERFORMANCE SALES AND PAY -TO - SALES EFFICIENCY RETAIL EFFICIENCY
Slide 60: Levers for operating leverage: marketing effectiveness
PAGE 60 LEVERS FOR OPERATING LEVERAGE INVEST IN KEY BRAND MAINTAIN INITIATIVES AND MARKETING PRIORITIZ E INVESTMENTS AT INVESTMENTS ~7% OF SALES WITH THE HIGHEST RETURN MARKETING EFFECTIVENESS
Slide 61: Levers for operating leverage: lean back-office
PAGE 61 LEVERS FOR OPERATING LEVERAGE OPTIMIZE BACK - ROLL OUT GLOBAL OFFICE BY BUSINESS SERVICES LEVERAGING TO ENHANCE AUTOMATION AND AI EFFICIENCY AND SCALABILTY LEAN BACK -OFFICE
Slide 62: EBIT development in 2026 impacted by sales decline
PAGE 62 EBIT DEVELOPMENT IN 2026 IMPACTED BY SALES DECLINE € 300 –350 M ~€380 M DRIVERS 2026 2025 E* 2026 E 2027 E 2028 E *Reflectingthe latest Vara Consensus (as of 11/17/2025)
Slide 63: EBIT recovery to start in 2027
PAGE 63 EBIT RECOVERY TO START IN 2027 RETURN TO ~€380 M PROFITABLE GROWTH LONG -TERM EBIT MARGIN POTENTIAL ~12% 2025 E* 2026 E 2027 E 2028 E *Reflectingthe latest Vara Consensus (as of 11/17/2025)
Slide 64: Capital expenditure
PAGE 64 CAPITAL EXPENDITURE CAPITAL EXPENDITURE (IN % OF GROUP SALES) SIGNIFICANT 08 INFRASTRUCTURE AND RETAIL INVESTMENTS 07 WITHIN CLAIM 5 06 CLAIM 5 TOUCHDOWN WILL SEE NORMALIZATION 05 IN CAPEX LEVELS 04 FOCUSING ON ~3% – 4% MAINTENANCE 03 INVESTMENTS , PARTICULARLY IT AND RETAIL 2020 2021 2022 2
Slide 65: Trade net working capital
PAGE 65 TNWC TRADE NET WORKING CAPITAL TNWC (IN % OF GROUP SALES) STRICT MANAGEMENT OF 28 TRADE NET WORKING CAPITAL, SUPPORTED BY 26 ONGOING OPTIMIZATION OF INVENTORY POSITION 24 22 INVENTORY LEVELS TO 20 IMPROVE TOWARD 20% OF ~18% – 20% 18 SALES BY 2028 16 2020 2021 2022 2023 2024 2025E 2026E 2027E
Slide 66: Enhancing inventory efficiency
PAGE 66 ENHANCING INVENTORY EFFICIENCY INVENTORIES REDUCE COMPLEXITY IN % OF SALES THROUGH STREAMLINED ASSORTMENT ~25% IMPROVE TRANSPARENCY FOR BETTER PLANNING AND FORECASTING ~20% 2024 INCREASE VISIBILITY IN WHOLESALE THROUGH AUTOMATED PROCESSES (EDI) 2028 INCREASE RETAIL STOCK TURN THROUGH DIGITAL
Slide 67: Focus on free cash flow generation
PAGE 67 FOCUS ON FREE CASH FLOW GENERATION C LAIM 5 TOUCHDOWN C LAIM 5 3X ~€300 M ANNUAL FCF * *After repayment of lease liabilities, corresponding to ~€500M b efore © HUGO repayment BOSS of lease liabilities in accordance with IFRS 16
Slide 68: Our capital allocation framework within CLAIM 5 TOUCHDOWN
PAGE 68 OUR CAPITAL ALLOCATION FRAMEWORK WITHIN CLAIM 5 TOUCHDOWN REINVEST FOR RETURN CASH TO REDUCE FINANCIAL SEEK STRATEGIC ORGANIC GROWTH SHAREHOLDERS LEVERAGE OPPORTUNITIES INVESTMENTS DIVIDEND AND /OR SAFEGUARD MAINTAIN FUTURE INTO BUSINESS SHARE BUYBACK INVESTMENT M&A FLEXIBILITY GRADE
Slide 69: Financial leverage
PAGE 69 FINANCIAL LEVERAGE FINANCIAL LEVERAGE CORRIDOR NET FINANCIAL LIABILITIES* TO EBITDA STRONG INVESTMENT -GRADE RATINGS BY MOODY’S AND S&P INVESTMENT -GRADE RATINGS 1.0x – 2.0x TO BE MAINTAINED WITHIN 1.3x CLAIM 5 TOUCHDOWN MAINTAIN FINANCIAL LEVERAGE IN A RANGE OF 1.0X TO 2.0X 2024 2025E 2026E
Slide 70: Our long-term commitment to shareholders
PAGE 70 OUR LONG -TERM COMMITMENT TO SHAREHOLDERS OUTGROW DRIVE ROBUST GENERATE THE MARKET PROFITABILITY MEANINGFUL IMPROVEMENTS FREE CASH FLOW (EBIT MARGIN: ~12%) © HUGO BOSS
Slide 71: Sustainable throughout: ESG strategy & initiatives
SUSTAINABLE THROUGHOUT ESG STRATEGY & INITIATIVES AT HUGO BOSS
Slide 72: Our strategic sustainability targets
PAGE 72 OUR STRATEGIC SUSTAINABILITY TARGETS WE STRIVE FOR A PLANET FREE OF WASTE & POLLUTION FOR A PLANET FREE OF WASTE & POLLUTION DRIVE LEVERAGE INCREASE FIGHT PUSH ZERO DIGITIZATION & NATURE POSITIVE CIRCULARITY MICROPLASTICS EMISSIONS DATA ANALYTICS MATERIALS 80% >90% 100% 0% -50% CIRCULAR PROD
Slide 73: Strong performance in capital market ESG ratings & rankings
PAGE 73 STRONG PERFORMANCE IN CAPITAL MARKET ESG RATINGS & RANKINGS 84 points in 2025 CSA Index inclusion in Dow Jones Best - in-Class World (8x in a row ) & Europe Corporate Sustainability Assessment (5x in a row ) based on 2024 score. Climate Change: B CDP Water Security: B - Carbon Disclosure Pro
Slide 74: Third Quarter 2025 Results
THIRD QUARTER 2025 RESULTS © 2022 HUGO BOSS
Slide 75: Third Quarter 2025 Results
THIRD QUARTER 2025 RESULTS YVES MÜLLER, CFO/COO © 2022 HUGO BOSS
Slide 76: HUGO BOSS resilient performance despite persistent market headwinds
PAGE 76 HUGO BOSS RESILIENT PERFORMANCE DESPITE PERSISTENT MARKET HEADWINDS © HUGO BOSS
Slide 77: Focus on operational excellence drives EBIT margin increase in Q3
PAGE 77 F OCUS ON OPERATIONAL EXCELLENCE DRIVES EBIT -MARGIN INCREASE IN Q3 GROUP SALES 989 (4)% IN GROUP CURRENCY (1)% CURRENCY -ADJUSTED EUR MILLION VS. Q3 2024 EBIT +30 BP 95 (1)% IN GROUP CURRENCY 9.6 % EUR MILLION VS. Q3 2024 EBIT MARGIN
Slide 78: Execution of strategic brand initiatives
PAGE 78 EXECUTION OF STRATEGIC BRAND INITIATIVES STRENGTHEN S RELEVANCE FOR BOSS AND HUGO BECKHAM BOSS BOSS HUGO x BOSS FASHION COLLECTION COLLECTION SHOW LAUNCH LAUNCH
Slide 79: Capitalizing on the strong position of BOSS menswear
PAGE 79 CAPITALIZING ON THE STRONG POSITION OF BOSS MENSWEAR THROUGH ITS VERSATILE 24/7 LIFESTYLE OFFERING BOSS BOSS MENSWEAR WOMENSWEAR HUGO * * * 0% VS. Q3 2024 (9)% VS. Q3 2024 (5)% VS. Q3 2024 *CURRENCY -ADJUSTED
Slide 80: Solid improvements in the Americas compensate for declines in EMEA and Asia/Pacific
PAGE 80 SOLID IMPROVEMENTS IN THE AMERICAS COMPENSATE FOR MODERATE DECLINES IN EMEA AND ASIA /PACIFIC AMERICAS EMEA ASIA/PACIFIC +3 % * (2)% * (4)% * VS. Q3 2024 VS. Q3 2024 VS. Q3 2024 Modest revenue increase in Sales improvements in Germany S ales increase in *CURRENCY -ADJUSTED the U.S. , alongsi
Slide 81: B&M retail improves sequentially
PAGE 81 B&M RETAIL IMPROVES SEQUENTIALLY DUE TO HIGHER CONVERSION AND SALES PER TRANSACTION BECKHAM x BOSS Shanghai B&M B&M RETAIL WHOLESALE DIGITAL * * * 0% (5)% +2% VS. Q3 2024 VS. Q3 2024 VS. Q3 2024 S equential improvement , T iming of deliveries and Both hugoboss.com and while store traffic rem
Slide 82: Strong gross margin expansion
PAGE 82 STRONG GROSS MARGIN EXPANSION DRIVEN BY SOURCING EFFICIENCIES AND COST OPTIMIZATION +100 BP +100 BP ROSS MARGIN DRIVERS SOURCING EFFICIENCIES PRODUCT COSTS FREIGHT RATES 60.2 % 61.4%% 61.2 Q3 2024 Q3 2025 © 2023 HUGO BOSS
Slide 83: Decline in operating expenses reflects structural efficiency improvements
PAGE 83 DECLINE IN OPERATING EXPENSES REFLECTS STRUCTURAL EFFICIENCY IMPROVEMENTS (3)%% (3) B&M RETAIL EXPENSES DECREASE BY 4%, D RIVEN BY ONGOING STORE NETWORK OPTIMIZATION MARKETING INVESTMENTS SUSTAINED FOCUS ON DRIVING EFFECTIVENESS ; 7.1% OF SALES IN Q3 524 510 EUR EUR MILLION MILLION ADMINISTR
Slide 84: Gross margin expansion and strict cost management support bottom-line performance
PAGE 84 GROSS MARGIN EXPANSION AND STRICT COST MANAGEMENT SUPPORT BOTTOM -LINE PERFORMANCE Q3 2025 CHANGE 9M 2025 CHANGE SALES 989 2,989 (4)% (2)% EUR MILLION EUR MILLION GROSS MARGIN 61.2% +100 BP 61.8% +30 BP OPERATING EXPENSES 510 1,610 (2)% (3)% EUR MILLION EUR MILLION OPERATING EXPENSES (IN % O
Slide 85: Focus on capex efficiency drives free cash flow improvement
PAGE 85 FOCUS ON CAPEX EFFICIENCY DRI VES FREE CASH FLOW IMPROVEMENT SEPTEMBER 30, 2025 Q3 2025 Q3 2025 TRADE NET CAPITAL FREE CASH WORKING CAPITAL EXPENDITURE FLOW 909 20.2 44 66 * CURRENCY - ADJUSTED EUR MILLION IN % OF SALES EUR MILLION EUR MILLION +11%* (20) BP (51)% +63% Inventories increase by
Slide 86: Our focus in Q4 2025
PAGE 86 OUR FOCUS IN Q4 2025 S eizing Prioritizing Implementing Leveraging Driving additional focused moderate global sustainable sales brand price sourcing efficiency opportunities investments increases activities measures
Slide 87: Strategic brand and product initiatives to support Q4 performance
PAGE 87 STRATEGIC BRAND AND PRODUCT INITIATIVES TO SUPPORT Q4 PERFORMANCE BECKHAM BOSS HUGO BOSS BOSS x BOSS BOTTLED x JUJUTSU xHUGO ASTON x STEIFF SHANGHAI MARTIN x JUJUTSU HOLIDAY CAPSULE
Slide 88: Driving customer engagement with loyalty program
PAGE 88 DRIVING CUSTOMER ENGAGEMENT WITH LOYALTY PROGRAM HUGO BOSS XP ~13 MILLION
Slide 89: Our focus in Q4 2025
PAGE 89 OUR FOCUS IN Q4 2025 S eizing Prioritizing Implementing Leveraging Driving additional focused moderate global sustainable sales brand price sourcing efficiency opportunities investments increases activities measures
Slide 90: HUGO BOSS reaffirms FY 2025 outlook
PAGE 90 HUGO BOSS REAFFIRMS FY 2025 OUTLOOK © 2022 HUGO BOSS
Slide 91: HUGO BOSS reaffirms 2025 guidance
PAGE 91 HUGO BOSS REAFFIRMS 2025 GUIDANCE ANTICIPATING THE LOWER END OF RANGES SALES ASSUMPTIONS 4.2 TO 4.4 MACROECONOMIC ENVIRONMENT TO REMAIN VOLATILE FOR THE TIME BEING EUR BILLION 2025E ACCELERATION IN TOP - AND BOTTOM - LINE PERFORMANCE EXPECTED IN Q4 EBIT GUIDANCE INCLUDES FX HEADWINDS: ~EUR 1
Slide 92: Q3 performance demonstrates resilience of our business model
PAGE 92 Q3 PERFORMANCE DEMONSTRATES RESILIENCE AND STRENGTH OF OUR BUSINESS MODEL DISCIPLINED FOCUS ON OPERATIONAL PRIORITIES TO DELIVER ON FY 2025 TARGETS © 2023 HUGO BOSS
Slide 93: Financial calendar & investor relations contact
PAGE 93 FINANCIAL CALENDAR & INVESTOR RELATIONS CONTACT CHRISTIAN STÖHR SENIOR VICE PRESIDENT INVESTOR RELATIONS E-MAIL christian_stoehr@hugoboss.com PHONE +49 7123 94 80903 MARCH LENA BIBERACHER 10 FULL YEAR 2025 RESULTS CONTACT CHRISTIAN STÖHR SENIOR INVESTOR RELATIONS MANAGER E-MAIL lena_biberach
Slide 94: General Information
PAGE 94 I GENERAL INFORMATION BASED ON FY 2024
Slide 95: Five strong reasons for an investment in HUGO BOSS
PAGE 95 FIVE STRONG REASONS FOR AN INVESTMENT IN HUGO BOSS • BOSS and HUGO - clearly distinguished by their fashionable style but with the same high standards of quality and fit , 1 TWO GLOBALLY RECOGNIZED innovation and sustainability . BRANDS • As a 24/7 lifestyle brand , BOSS offers the perfect o
Slide 96: HUGO BOSS at a glance
PAGE 96 HUGO BOSS AT A GLANCE 4.3 EUR BILLION 361 EUR MILLION 8.4% EBIT 497 EUR MILLION SALES EBIT MARGIN FREE CASH FLOW 129 > 18,500 20% 6,500 COUNTRIES EMPLOYEES SHARE OF POINTS DIGITAL SALES OF SALE
Slide 97: Comparison of actual and forecast business performance
PAGE 97 COMPARISON OF ACTUAL AND FORECAST BUSINESS PERFORMANCE Results 2023 Initial forecast 2024 Latest forecast 2024 1 Results 2024 Increase of 1% to 4% Group sales Increase of Increase by 3% EUR 4,197 million to EUR 4.20 billion 3% to 6% to EUR 4.3 billion and EUR 4.35 billion Sales by segment In
Slide 98: Sales and earnings development of the business segments in 2024
PAGE 98 SALES AND EARNINGS DEVELOPMENT OF THE BUSINESS SEGMENTS IN 2024 (IN EUR MILLION) © 2022 HUGO BOSS Acquisitions or divestments had no material impact on the Group’s financial performance in 2024.
Slide 99: Sales development by brand in 2024
PAGE 99 SALES DEVELOPMENT BY BRAND IN 2024 BOSS BOSS HUGO MENSWEAR WOMENSWEAR 77% 7% 16% of Sales of Sales of Sales 3,329 EUR MILLION 297 EUR MILLION 682 EUR MILLION
Slide 100: Global market presence
PAGE 100 HUGO BOSS GLOBAL MARKET PRESENCE AMERICAS EMEA ASIA/PACIFIC 24% 61% 13% of Sales of Sales of Sales 1,020 EUR million Sales 2,625 EUR million Sales 553 EUR million Sales ~2,050 Points of sale ~5,300 Points of sale ~650 Points of sale 139 Freestanding retail stores 199 Freestanding retail sto
Slide 101: Distribution channels
PAGE 101 DISTRIBUTION CHANNELS © HUGO BOSS
Slide 102: Sales by distribution channel
PAGE 102 SALES BY DISTRIBUTION CHANNEL
Slide 103: Retail store network
PAGE 103 RETAIL STORE NETWORK TOTAL 1,532 INCLUDING FREE - NUMBER OF STANDING STORES, RETAIL POINTS SHOP - IN- SHOPS AND OF SALE OUTLETS
Slide 104: Sourcing footprint: well balanced regional sourcing & production mix
PAGE 104 SOURCING FOOTPRINT WELL BALANCED REGIONAL SOURCING & PRODUCTION MIX REGIONALLY BALANCED OWN PRODUCTION COMPLEMENTS STRATEGIC SOURCING MIX THIRD -PARTY SOURCING ACTIVITIES 17% Izmir, Turkey (Largest single Americas source of production) 3% External Sourcing Own Production EMEA Asia 80% 20% 5
Slide 105: Strong organizational set-up
PAGE 105 STRONG ORGANIZATIONAL SET -UP EMPLOYEES IN MANAGEMENT (2024) EMPLOYEE SATISFACTION 69% CONDUCTED ANNUALLY WITH GREAT PLACE TO WORK® GERMANY
Slide 106: Historical overview dividend payments and payout ratios
PAGE 106 HISTORICAL OVERVIEW DIVIDEND PAYMENTS AND PAYOUT RATIOS +4 % DIVIDEND PAYOUT RATIO 60% EUR EUR 1.40 1.35 50% EUR 30 ‒50 % 1.00 PAYOUT RATIO 45 % 40% EUR 0.70 35 % 36 % 33 % 30% EUR 0.04 20% 2020 1 2021 2022 2023 2024 0% 2020 1 2021 2022 2023 2024 DIVIDEND PER SHARE 1 Due to the COVID -19 pa
Slide 107: Consolidated statement of financial position
PAGE 107 CONSOLIDATED STATEMENT OF FINANCIAL POSITION (IN EUR MILLION) Assets December 31, December 31, 2024 2023 Property, plant, and equipment, intangible assets, right - of-use assets 1,775 1,521 Inventories 1,072 1,066 Trade receivables 362 376 Other assets 364 363 Cash and cash equivalents 211
Slide 108: Multi-year overview: sales
PAGE 108 MULTI -YEAR -OVERVIEW SALES 2024 2023 2022 2021 2020 2019 2018 2017 Sales (in EUR million ) 4,307 4,197 3,651 2,786 1,946 2,884 2,796 2,733 Sales by brand BOSS Menswear 3,329 3,256 2,868 2,181 1,530 2,488 2,422 2,336 BOSS Womenswear 297 288 239 192 131 HUGO 682 653 545 413 285 396 374 397 S
Slide 109: Multi-year overview: P&L, balance sheet and other key figures
PAGE 109 MULTI -YEAR -OVERVIEW P&L, BALANCE SHEET AND OTHER KEY FIGURES 2024 2023 2022 2021 2020 2019 2018 2017 Results of operations (in EUR million) Gross profit 2,660 2,581 2,256 1,721 1,187 1,875 1,823 1,808 Gross margin in % 61.8 61.5 61.8 61.8 61.0 65.0 65.2 66.2 EBIT 361 410 335 228 (236) 344
Slide 110: Our Share
PAGE 110 I OUR SHARE
Slide 111: Share price performance YTD until November 30, 2025
PAGE 111 SHARE PRICE PERFORMANCE YTD UNTIL NOVEMBER 30, 2025 AS OF 11/30/2025 140 +22% 120 +20% +17% 100 -15% 80 60 01 02 03 04 05 06 07 08 09 10 11 HUGO BOSS Core Peers MDAX DAX 1 Burberry Group plc , Capri Holdings Ltd., G -III Apparel Group, Guess Inc., Levi Strauss & Co., Moncler Group, PVH Corp
Slide 112: Shareholder structure
PAGE 112 SHAREHOLDER STRUCTURE SHAREHOLDER STRUCTURE INSTITUTIONAL INVESTORS AS OF SEPTEMBER 30, 2025 (FREE FLOAT) BY REGION (IN % OF SHARE CAPITAL) AS OF SEPTEMBER 2025 (IN %) ~40,000 Rest of World Own shares 2% 2% Rest of PFC S.r.l./Zignago North Europe Holding S.p.A. 22% America TOTAL NUMBER OF 1
Slide 113: Forward-looking statements contain risks
FORWARD -LOOKING STATEMENTS CONTAIN RISKS This document contains forward - looking statements that reflect management's current views with respect to future events . The words “anticipate”, “assume”, “believe”, “estimate”, “expect”, “intend”, “may”, “plan”, “project”, “should”, and similar expressio