Hugo Boss Ag · XETR:BOSS
Hugo Boss — Q3 2025 Earnings Presentation
22 slides from Hugo Boss's earnings presentation, Nov 4, 2025
Slide 1: Third Quarter 2025 Results
THIRD QUARTER 2025 RESULTS © 2022 HUGO BOSS
Slide 2: Third Quarter 2025 Results
THIRD QUARTER 2025 RESULTS PAGE 2 THIRD QUARTER 2025 RESULTS YVES MÜLLER, CFO/COO © 2022 HUGO BOSS
Slide 3: Hugo Boss Resilient Performance Despite Persistent Market Headwinds
THIRD QUARTER 2025 RESULTS PAGE 3 HUGO BOSS RESILIENT PERFORMANCE DESPITE PERSISTENT MARKET HEADWINDS © HUGO BOSS
Slide 4: Focus on Operational Excellence Drives EBIT Margin Increase in Q3
THIRD QUARTER 2025 RESULTS PAGE 4 FOCUS ON OPERATIONAL EXCELLENCE DRIVES EBIT-MARGIN INCREASE IN Q3 GROUP SALES 989 (4)% (1)% IN GROUP CURRENCY CURRENCY-ADJUSTED EUR MILLION VS. Q3 2024 EBIT 95 +30 BP (1)% IN GROUP CURRENCY 9.6% EUR MILLION VS. Q3 2024 EBIT MARGIN
Slide 5: Execution of Strategic Brand Initiatives Strengthens Relevance for BOSS and HUGO
THIRD QUARTER 2025 RESULTS PAGE 5 EXECUTION OF STRATEGIC BRAND INITIATIVES STRENGTHENS RELEVANCE FOR BOSS AND HUGO BECKHAM BOSS BOSS HUGO x BOSS FASHION COLLECTION COLLECTION SHOW LAUNCH LAUNCH
Slide 6: Capitalizing on the Strong Position of BOSS Menswear
THIRD QUARTER 2025 RESULTS PAGE 6 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 7: Solid Improvements in the Americas Compensate for Declines in EMEA and Asia/Pacific
THIRD QUARTER 2025 RESULTS PAGE 7 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 Sales increase in *CURRENCY-ADJUS
Slide 8: B&M Retail Improves Sequentially
THIRD QUARTER 2025 RESULTS PAGE 8 B&M RETAIL IMPROVES SEQUENTIALLY DUE TO HIGHER CONVERSION AND SALES PER TRANSACTION BECKHAM x BOSS Shanghai B&M B&M RETAIL WHOLESALE DIGITAL (5)% * * * 0% +2% VS. Q3 2024 VS. Q3 2024 VS. Q3 2024 Sequential improvement, Timing of deliveries and Both hugoboss.com and
Slide 9: Strong Gross Margin Expansion Driven by Sourcing Efficiencies and Cost Optimization
THIRD QUARTER 2025 RESULTS PAGE 9 STRONG GROSS MARGIN EXPANSION DRIVEN BY SOURCING EFFICIENCIES AND COST OPTIMIZATION +100 BP DRIVERS SOURCING EFFICIENCIES PRODUCT COSTS 60.2% 61.4%% 61.2 FREIGHT RATES Q3 2024 Q3 2025 © 2023 HUGO BOSS
Slide 10: Decline in Operating Expenses Reflects Structural Efficiency Improvements
THIRD QUARTER 2025 RESULTS PAGE 10 DECLINE IN OPERATING EXPENSES REFLECTS STRUCTURAL EFFICIENCY IMPROVEMENTS (3)% B&M RETAIL EXPENSES DECREASE BY 4%, DRIVEN BY ONGOING STORE NETWORK OPTIMIZATION MARKETING INVESTMENTS SUSTAINED FOCUS ON DRIVING EFFECTIVENESS; 7.1% OF SALES IN Q3 524 510 EUR EUR MILLI
Slide 11: Gross Margin Expansion and Strict Cost Management Support Bottom-Line Performance
THIRD QUARTER 2025 RESULTS PAGE 11 GROSS MARGIN EXPANSION AND STRICT COST MANAGEMENT SUPPORT BOTTOM-LINE PERFORMANCE Q3 2025 CHANGE 9M 2025 CHANGE SALES 989 (4)% 2,989 (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
Slide 12: Focus on CapEx Efficiency Drives Free Cash Flow Improvement
THIRD QUARTER 2025 RESULTS PAGE 12 FOCUS ON CAPEX EFFICIENCY DRIVES 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%
Slide 13: Our Focus in Q4 2025
THIRD QUARTER 2025 RESULTS PAGE 13 OUR FOCUS IN Q4 2025 Seizing Prioritizing Implementing Leveraging Driving additional focused moderate global sustainable sales brand price sourcing efficiency opportunities investments increases activities measures
Slide 14: Strategic Brand and Product Initiatives to Support Q4 Performance
THIRD QUARTER 2025 RESULTS PAGE 14 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 15: Driving Customer Engagement with Loyalty Program
THIRD QUARTER 2025 RESULTS PAGE 15 DRIVING CUSTOMER ENGAGEMENT WITH LOYALTY PROGRAM HUGO BOSS XP ~13 MILLION
Slide 16: Our Focus in Q4 2025
THIRD QUARTER 2025 RESULTS PAGE 16 OUR FOCUS IN Q4 2025 Seizing Prioritizing Implementing Leveraging Driving additional focused moderate global sustainable sales brand price sourcing efficiency opportunities investments increases activities measures
Slide 17: Hugo Boss Reaffirms FY 2025 Outlook
THIRD QUARTER 2025 RESULTS PAGE 17 HUGO BOSS REAFFIRMS FY 2025 OUTLOOK © 2022 HUGO BOSS
Slide 18: Hugo Boss Reaffirms 2025 Guidance
THIRD QUARTER 2025 RESULTS PAGE 18 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 INCL
Slide 19: Q3 Performance Demonstrates Resilience and Strength of Our Business Model
THIRD QUARTER 2025 RESULTS PAGE 19 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 20: CLAIM Strategy Update
THIRD QUARTER 2025 RESULTS PAGE 20 CLAIM 5 STRATEGY UPDATE © 2022 HUGO BOSS
Slide 21: Q&A
THIRD QUARTER 2025 RESULTS PAGE 21 IF YOU’D LIKE TO ASK A QUESTION, PRESS * FOLLOWED BY 1 Q&A © 2022 HUGO BOSS
Slide 22: Forward-Looking Statements Contain Risks
THIRD QUARTER 2025 RESULTS PAGE 22 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”,