Hugo Boss Ag · XETR:BOSS

Hugo Boss — FY 2025 Earnings Presentation

33 slides from Hugo Boss's earnings presentation, Mar 10, 2026

1. Slide 1: Full Year 2025 Results

   FULL YEAR 2025 RESULTS © 2022 HUGO BOSS

2. Slide 2: Strategic Review, Financial Review, Outlook

   STRATEGIC REVIEW 2025 FINANCIAL REVIEW 2025 OUTLOOK 2026 © 2022 HUGO BOSS

3. Slide 3: Strategic Review

   FULL YEAR 2025 2022 RESULTS PAGE 3 STRATEGIC REVIEW DANIEL GRIEDER, CEO © 2022 HUGO BOSS

4. Slide 4: Hugo Boss responds to global uncertainty with agility and clarity

   FULL YEAR 2025 RESULTS PAGE 4 HUGO BOSS RESPONDS TO GLOBAL UNCERTAINTY WITH AGILITY AND CLARITY

5. Slide 5: Hugo Boss delivers on 2025 targets amid challenging market environment

   FULL YEAR 2025 RESULTS PAGE 5 HUGO BOSS DELIVERS ON 2025 TARGETS AMID CHALLENGING MARKET ENVIRONMENT GROUP SALES EBIT EARNINGS FREE CASH PER SHARE FLOW 4,270 391 3.61 EUR MILLION EUR MILLION EUR 499 EUR MILLION* MARGIN +2% +8% +17% CURRENCY-ADJUSTED VS. FY 2024 9.2% VS. FY 2024 *BEFORE LEASES, I.E.

6. Slide 6: Strategic highlights

   FULL YEAR 2025 RESULTS PAGE 6 STRATEGIC HIGHLIGHTS STRONG REFINEMENT BRAND SUCCESSFUL CONSUMER OF BOSS STRENGTH OF INTRODUCTION RELEVANCE WOMENSWEAR BOSS AND OF CLAIM 5 OF BOSS AND HUGO HUGO TOUCHDOWN MENSWEAR INITIATED

7. Slide 7: Strengthening brand relevance and customer loyalty

   FULL YEAR 2025 RESULTS PAGE 7 STRENGTHENING BRAND RELEVANCE AND CUSTOMER LOYALTY CONTINOUS BRAND INVESTMENTS WITH MARKETING SPENDINGS BROADLY STABLE AT ~7% OF SALES TOTAL MEMBER BASE >13M END OF 2025 HOLIDAY BOSS WINTER 2025 CAMPAIGN CAMPAIGN BOSS X STEIFF

8. Slide 8: BOSS menswear records robust growth, reaffirming its global brand appeal

   FULL YEAR 2025 RESULTS PAGE 8 BOSS MENSWEAR RECORDS ROBUST GROWTH, REAFFIRMING ITS GLOBAL BRAND APPEAL BOSS MEN BECKHAM X BOSS IN % OF SALES IN 2025 ~80% SUCCESSFUL 24/7 LIFESTYLE STRONG ENGAGEMENT AND POSITIONING IN THE UPPER BRAND INTERACTION +3% PREMIUM MARKET WITH BECKHAM X BOSS *CURRENCY-ADJUST

9. Slide 9: Refinement of BOSS womenswear and HUGO successfully initiated

   FULL YEAR 2025 RESULTS PAGE 9 REFINEMENT OF BOSS WOMENSWEAR AND HUGO SUCCESSFULLY INITIATED OPTIMIZING PRODUCT ASSORTMENT AND DISTRIBUTION TO STRENGTHEN BRAND IDENTITY *CURRENCY-ADJUSTED (5)% * (4)% * VS. FY 2024 VS. FY 2024 © 2022 HUGO BOSS

10. Slide 10: Hugo Boss enters 2026 with clear focus on executing CLAIM 5 TOUCHDOWN

    FULL YEAR 2025 RESULTS PAGE 10 HUGO BOSS ENTERS 2026 WITH CLEAR FOCUS ON EXECUTING CLAIM 5 TOUCHDOWN THREE FIELDS OF EXCELLENCE TO REINFORCE BRAND EQUITY BRAND EXCELLENCE + DISTRIBUTION EXCELLENCE + OPERATIONAL EXCELLENCE = MEANINGFUL FREE CASH FLOW GENERATION & ATTRACTIVE SHAREHOLDER VALUE CREATION

11. Slide 11: Our commitment to deliver sustainable shareholder returns

    FULL YEAR 2025 RESULTS PAGE 11 OUR COMMITMENT TO DELIVER SUSTAINABLE SHAREHOLDER RETURNS SHARE BUYBACK PROGRAM UP TO €200M UNTIL END OF 2027

12. Slide 12: BOSS Fall/Winter 2026 fashion show

    FULL YEAR 2025 RESULTS PAGE 12 BOSS FALL/WINTER 2026 HUGO BECKHAM FASHION SHOW SUMMER 2026 BY BOSS CAMPAIGN © 2022 HUGO BOSS

13. Slide 13: Financial Review

    FULL YEAR 2025 2022 RESULTS PAGE 13 FINANCIAL REVIEW YVES MÜLLER, CFO/COO © 2022 HUGO BOSS

14. Slide 14: Hugo Boss achieves top- and bottom-line guidance

    FULL YEAR 2025 RESULTS PAGE 14 HUGO BOSS ACHIEVES TOP- AND BOTTOM-LINE GUIDANCE GROUP SALES 4,270 +2 % CURRENCY-ADJUSTED (1)% IN GROUP CURRENCY EUR MILLION VS. FY 2024 EBIT +80BP 391 +8% 9.2% EUR MILLION VS. FY 2024 EBIT MARGIN

15. Slide 15: Robust performance in Q4 supported by successful holiday season

    FULL YEAR 2025 RESULTS PAGE 15 ROBUST PERFORMANCE IN Q4 SUPPORTED BY SUCCESSFUL HOLIDAY SEASON GROUP SALES VS. Q4 2024 +7% * BRANDS REGIONS CHANNELS EBIT BOSS +8% EMEA +9% B&M RETAIL +2% MENSWEAR 154 IN EUR MILLION BOSS (1)% AMERICAS +6% B&M WHS +14% WOMENSWEAR *CURRENCY-ADJUSTED HUGO +2% ASIA/PACIF

16. Slide 16: Americas and EMEA demonstrate resilience, compensating for Asia/Pacific decline

    FULL YEAR 2025 RESULTS PAGE 16 AMERICAS AND EMEA DEMONSTRATE RESILIENCE IN 2025 AND COMPENSATE FOR DECLINE IN ASIA/PACIFIC AMERICAS EMEA ASIA/PACIFIC +3% +2% (5)% * * * VS. FY 2024 VS. FY 2024 VS. FY 2024 Solid momentum in the U.S. Resilience of key European Development in Asia/Pacific as well as do

17. Slide 17: Growth fueled by B&M wholesale and digital while B&M retail stable

    FULL YEAR 2025 RESULTS PAGE 17 GROWTH IN 2025 FUELED BY B&M WHOLESALE AND DIGITAL WHILE B&M RETAIL BUSINESS REMAINS STABLE BOSS Store Barcelona B&M RETAIL B&M WHOLESALE DIGITAL 0% * +2% * +7% * VS. FY 2024 VS. FY 2024 VS. FY 2024 Subdued store and mall Successful deliveries to Robust increase in tra

18. Slide 18: Gross margin development supported by sourcing efficiencies and freight costs

    FULL YEAR 2025 RESULTS PAGE 18 GROSS MARGIN DEVELOPMENT SUPPORTED BY SOURCING EFFICIENCIES AND FREIGHT COST OPTIMIZATION DRIVERS FX IMPACTS REBATES 61.8% 61.4 61.5%% CHANNEL MIX SOURCING EFFICIENCIES FREIGHT RATES FY 2024 FY 2025 © 2023 HUGO BOSS

19. Slide 19: Decrease in operating expenses driven by ongoing cost discipline

    FULL YEAR 2025 RESULTS PAGE 19 DECREASE IN OPERATING EXPENSES DRIVEN BY ONGOING COST DISCIPLINE DRIVERS OPTIMIZATION ACROSS KEY BUSINESS AREAS 2,299 2,236 EUR MILLION EUR MILLION FOCUS ON B&M RETAIL EFFICIENCY FY 2024 FY 2025 FOCUS ON MARKETING EFFICENCY OPEX IN % OF SALES IMPROVES BY 100 BASIS POIN

20. Slide 20: Operational excellence and strict cost management drive bottom-line improvements

    FULL YEAR 2025 RESULTS PAGE 20 FOCUS ON OPERATIONAL EXCELLENCE AND STRICT COST MANAGEMENT DRIVES BOTTOM-LINE IMPROVEMENTS Q4 2025 CHANGE FY 2025 CHANGE SALES 1,281 +2% 4,270 (1)% EUR MILLION EUR MILLION GROSS MARGIN 60.8% (160) BP 61.5% (20) BP OPERATING EXPENSES 625 2,236 (3)% (4)% EUR MILLION EUR

21. Slide 21: Disciplined inventory management leads to healthy year-end position

    FULL YEAR 2025 RESULTS PAGE 21 DISCIPLINED INVENTORY MANAGEMENT LEADS TO HEALTHY YEAR-END POSITION ABSOLUTE AND RELATIVE DEVELOPMENT OF INVENTORIES Inventories decrease 10% 1,066 1,072 currency-adjusted supported by INVENTORIES IN % OF SALES INVENTORIES IN EUR MILLION targeted measures to reduce inv

22. Slide 22: Focus on capex efficiency supports free cash flow development

    FULL YEAR 2025 RESULTS PAGE 22 FOCUS ON CAPEX EFFICIENCY SUPPORTS FREE CASH FLOW DEVELOPMENT IN 2025 DECEMBER 31, 2025 FY 2025 TRADE NET CAPITAL WORKING CAPITAL EXPENDITURE 775 20.0 195 * CURRENCY-ADJUSTED EUR MILLION IN % OF SALES EUR MILLION +5%* +40BP (32)% Increase driven by lower trade Decline

23. Slide 23: Strong free cash flow development underlines cash-generative business model

    FULL YEAR 2025 RESULTS PAGE 23 STRONG FREE CASH FLOW DEVELOPMENT UNDERLINES CASH-GENERATIVE BUSINESS MODEL 2022–2025 FREE CASH FLOW * (IN EUR MILLION) Development supported by bottom-line performance and continued capital expenditure 497 499 discipline 166 96 2022 2023 2024 2025 HUGO BOSS ENDS 2025

24. Slide 24: Outlook 2026

    FULL YEAR 2025 RESULTS PAGE 24 OUTLOOK 2026 © 2022 HUGO BOSS

25. Slide 25: 2026 will play a crucial role in our journey toward long-term profitable growth

    FULL YEAR 2025 RESULTS PAGE 25 2026 WILL PLAY A CRUCIAL ROLE IN OUR JOURNEY TOWARD LONG-TERM PROFITABLE GROWTH © 2022 HUGO BOSS

26. Slide 26: Outlook: sales levers

    FULL YEAR 2025 RESULTS PAGE 26 OUTLOOK SALES LEVERS MID- TO HIGH- MORE SELECTIVE DISTRIBUTION APPROACH SINGLE-DIGIT DECLINE 2026E ENHANCING DISTRIBUTION QUALITY IN B&M WHOLESALE AND DIGITAL STREAMLINING PRODUCT ASSORTMENTS ACROSS BRANDS © 2022 HUGO BOSS

27. Slide 27: Sales outlook by region

    FULL YEAR 2025 RESULTS PAGE 27 SALES OUTLOOK BY REGION AMERICAS EMEA ASIA/PACIFIC MID- TO HIGH-SINGLE- MID- TO HIGH-SINGLE- MID- TO HIGH-SINGLE- DIGIT DECLINE DIGIT DECLINE DIGIT DECLINE VS. FY 2025 VS. FY 2025 VS. FY 2025 Development reflects Targeted enhancements to Brand and channel productivity

28. Slide 28: Outlook: EBIT levers

    FULL YEAR 2025 RESULTS PAGE 28 OUTLOOK EBIT LEVERS 300 TO 350 EARNINGS DEVELOPMENT IMPACTED BY SALES DECLINE EUR MILLION 2026E TAGRETED GROSS MARGIN IMPROVEMENTS CONTINUED COST DISCIPLINE © 2022 HUGO BOSS

29. Slide 29: Our capital allocation priorities within CLAIM 5 TOUCHDOWN

    FULL YEAR 2025 RESULTS PAGE 29 OUR CAPITAL ALLOCATION PRIORITIES 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 FL

30. Slide 30: Share buyback program €200 M

    FULL YEAR 2025 RESULTS PAGE 30 HUGO BOSS INTRODUCES SHARE BUYBACK PROGRAM TO DELIVER ATTRACTIVE SHAREHOLDER RETURNS ROBUST SHARE BUYBACK FINANCIAL POSITION PROGRAM STRONG FREE CASH FLOW GENERATION UP TO €200M UNTIL END OF 2027 © 2022 HUGO BOSS

31. Slide 31: Key takeaways

    FULL YEAR 2025 RESULTS PAGE 31 KEY TAKEAWAYS SOLID 2025 2026 WILL BE A WE ARE COMMITTED PERFORMANCE DELIBERATE YEAR TO DRIVE DESPITE OF REALIGNMENT ATTRACTIVE CHALLENGING UNDER CLAIM 5 SHAREHOLDER MARKET BACKDROP TOUCHDOWN RETURNS © 2022 HUGO BOSS

32. Slide 32: If you'd like to ask a question, press * followed by 1

    FULL YEAR 2025 RESULTS PAGE 32 IF YOU’D LIKE TO ASK A QUESTION, PRESS * FOLLOWED BY 1 © 2022 HUGO BOSS

33. Slide 33: Forward-looking statements contain risks

    FULL YEAR 2025 RESULTS PAGE 33 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”, “sho

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