Hugo Boss Ag · XETR:BOSS

Hugo Boss — Non-Deal Roadshow (November 2017)

66 slides from Hugo Boss's roadshow presentation, Nov 22, 2017

Slide 1: HUGO BOSS
HUGO BOSS
Slide 2: Macquarie Roadshow
Macquarie Roadshow LONDON, NOVEMBER 22, 2017 MARK LANGER – CHIEF EXECUTIVE OFFICER DENNIS WEBER – HEAD OF INVESTOR RELATIONS Macquarie Roadshow London HUGO BOSS © November 2017 2
Slide 4: HUGO BOSS records solid sales increase in the third quarter
HUGO BOSS records solid sales increase in the third quarter Group Sales (in EUR million) ■ Improved sales momentum in own retail +1 % +3 % fx-adjusted ■ Healthy increases in Europe and China ■ US retail business returns to comp store sales growth 703 711 Q3 2016 Q3 2017 Macquarie Roadshow London HUG
Slide 5: Europe and Asia/Pacific contribute to sales growth
Europe and Asia/Pacific contribute to sales growth HUGO BOSS Europe Sales* HUGO BOSS Americas Sales* HUGO BOSS APAC Sales* +4 % (8) % (2) % +5 % fx-adjusted (4) % fx-adjusted +4 % fx-adjusted 457 474 147 136 83 81 Q3 2016 Q3 2017 Q3 2016 Q3 2017 Q3 2016 Q3 2017 ■ Sales increase in all major ■ Good g
Slide 6: Pace of growth in own retail accelerates
Pace of growth in own retail accelerates Retail Sales* Wholesale Sales* License Sales* +3 % (3) % +24 % +6 % fx-adjusted (1) % fx-adjusted +24 % fx-adjusted 398 410 289 281 16 20 Q3 2016 Q3 2017 Q3 2016 Q3 2017 Q3 2016 Q3 2017 ■ 5% comp store sales growth ■ Decline in the Americas partly ■ Strong fr
Slide 7: First BOSS stores refurbished with new store concept
First BOSS stores refurbished with new store concept BOSS Store Geneva Freestanding Stores • Re-opening October 2017 • (20) 442 + 13 435 + 4 Europe (8) Europe + 1 Americas (4) Americas + 8 Asia/Pacific (8) Asia/Pacific Dec. 31, 2016 Openings Closings Sep. 30, 2017 Macquarie Roadshow London HUGO BOSS
Slide 8: Sales up across both brands
Sales up across both brands +1 % +3 % +3 % fx-adjusted +4 % fx-adjusted ■ BOSS sales increase across all 595 600 108 111 wearing occasions ■ Solid growth of HUGO driven by region Europe ■ Menswear up 4%, womenswear down 1% Q3 2016* Q3 2017* Q3 2016* Q3 2017* *in EUR million Macquarie Roadshow London
Slide 9: Investments in future growth and currency effects weigh on operating profit
Investments in future growth and currency effects weigh on operating profit Gross margin Selling & Distribution expenses 64.9 % 20bp 284 EUR million 2% Administration expenses EBITDA (before special items) (1)% 67 EUR million 2% 143 EUR million Special items Net income 0% 5 EUR million >100% 80 EUR
Slide 10: Margin performance differs by region
Margin performance differs by region Europe Americas Asia/Pacific (in %) (in %) (in %) +140 bp (250) bp (200) bp 33.8 32.4 23.8 21.3 15.8 13.8 *Incl. Middle East and Africa. Q3 2016 Q3 2017 Q3 2016 Q3 2017 Q3 2016 Q3 2017 Macquarie Roadshow London HUGO BOSS © November 2017 10
Slide 11: Sales and earnings increase in the first nine months
Sales and earnings increase in the first nine months Group Sales (Jan. - Sep. 2017) Sales by Region (Jan. - Sep. 2017) +2 % +2 % 1.998 Mio. EUR +2% fx-adjusted Europe +3% fx-adjusted EBITDA (before special items) +1 (2) % 348 Mio. EUR % Americas (3)% fx-adjusted Net income +4 % 186 Mio. EUR +43 % As
Slide 12: Working capital to sales ratio continues to improve
Working capital to sales ratio continues to improve Inventories Average trade net working capital (in EUR million) as percentage of sales (in %) (3) % (40) bp 0 % fx-adjusted ■ Inventory position well 537 522 19.7 19.3 controlled ■ Trade net working capital up 5% ■ Timing effects impact trade receiv
Slide 13: Earnings increase and lower investments drive cash flow growth
Earnings increase and lower investments drive cash flow growth Capital expenditure Free cash flow Net financial liabilities (in EUR million) (in EUR million) (in EUR million) (29) % +29 % (29) % 230 163 136 119 106 85 Jan. - Sep. 2016 Jan. - Sep. 2017 Jan. - Sep. 2016 Jan. - Sep. 2017 Sep. 30, 2016
Slide 15: Group strategy focuses on four fields of action
Group strategy focuses on four fields of action DIGITAL III. DRIVE THE I. REFOCUS DIGITAL TRANS- THE BRAND FORMATION GLOBAL AGILE CUSTOMER- CENTRIC II. REFINE THE IV. INNOVATE WAY THE WAY WE SELL WE OPERATE SUSTAINABLE Macquarie Roadshow London HUGO BOSS © November 2017 15
Slide 16: Strategic Fields of Action
Strategic Fields of Action DIGITAL III. DRIVE THE I. REFOCUS DIGITAL TRANS- THE BRAND FORMATION GLOBAL AGILE CUSTOMER- CENTRIC II. REFINE THE IV. INNOVATE WAY THE WAY WE SELL WE OPERATE SUSTAINABLE Macquarie Roadshow London HUGO BOSS © November 2017 16
Slide 17: Two brands: BOSS and HUGO
Two brands: BOSS and HUGO #THISISBOSS #IAMHUGO TWO BRANDS TWO TARGET CUSTOMERS TWO BRAND IDENTITIES Macquarie Roadshow London HUGO BOSS © November 2017 17
Slide 18: BOSS and HUGO customers have different attitudes towards fashion
BOSS and HUGO customers have different attitudes towards fashion Status-oriented, Open-minded, ATTITUDE traditional, rational individual, spontaneous Classic, modern, STYLE Fashion-forward, sophisticated contemporary, progressive Highest quality, Latest fashion trends, EXPECTS personal assistance ur
Slide 19: BOSS and HUGO are distinct brands based on a common set of values
BOSS and HUGO are distinct brands based on a common set of values EXCLUSIVE CHARACTERISTICS EXCLUSIVE CHARACTERISTICS SHARED MODERN DESIGN VALUES & BENEFITS CONTEMPORARY DESIGN EFFORTLESS LOOKS PROGRESSIVE LOOKS INNOVATION SHARP TAILORING AND PREMIUM QUALITY AND FASHION - FORWARD REFINED CASUALWEAR
Slide 20: BOSS: Upgrade of casualwear and new interpretation of formalwear
BOSS: Upgrade of casualwear and new interpretation of formalwear Split of BOSS brand sales by segment In EUR billion ~2.0 CAGR ~1.4 +8% 51% 59% CAGR +3% 49% 41% 2010 2016 Casualwear Formalwear Macquarie Roadshow London HUGO BOSS © November 2017 20
Slide 21: BOSS: Rebalanced offer takes advantage of core strength in upper premium
BOSS: Rebalanced offer takes advantage of BOSS core strength in upper premium Suit offer by price point Based on number of styles offered in France, in % of total >800 26% 23% 25% 700 - 799 31% 43% 600 - 699 43% 595 9% 0% Spring/Summer 2017 collection Spring/Summer 2018 collection Macquarie Roadshow
Slide 22: BOSS Menswear collection spans three wearing occasions
BOSS Menswear collection spans three wearing occasions BUSINESS CASUAL AT H L E I S U R E DRESSED IMPECCABLY FOR EVERY OCCASION Macquarie Roadshow London HUGO BOSS © November 2017 22
Slide 23: BOSS Womenswear collection consists of Business and Casual
BOSS Womenswear collection consists of Business and Casual BUSINESS CASUAL DRESSED IMPECCABLY FOR EVERY OCCASION Macquarie Roadshow London HUGO BOSS © November 2017 23
Slide 24: Business and Casual form HUGO Menswear
Business and Casual form HUGO Menswear BUSINESS CASUAL GLOBALLY ENGAGED – ALWAYS CURIOUS – AUTHENTICALLY EXPRESSIVE Macquarie Roadshow London HUGO BOSS © November 2017 24
Slide 25: …and HUGO Womenswear collections
…and HUGO Womenswear collections BUSINESS CASUAL GLOBALLY ENGAGED – ALWAYS CURIOUS – AUTHENTICALLY EXPRESSIVE Macquarie Roadshow London HUGO BOSS © November 2017 25
Slide 26: HUGO: Refined brand positioning receives strong feedback
HUGO: Refined brand positioning receives strong feedback Macquarie Roadshow London HUGO BOSS © November 2017 26
Slide 27: HUGO has grown significantly above industry average in recent past
HUGO has grown significantly above industry average in recent past HUGO sales split by channel In EUR million 380  Strong position in central European markets CAGR  Short-term growth focus on other European +16% 50% markets  Ambition to grow in the US and key Asian 153 markets 57% 47% 37% 7% 2% 2
Slide 28: High profile events and campaigns drive brand awareness
High profile events and campaigns drive brand awareness “Own Your Journey” “Gallery Collection” Bread & Butter Social media campaign BOSS Womenswear by Zalando Macquarie Roadshow London HUGO BOSS © November 2017 28
Slide 29: Strategic Fields of Action
Strategic Fields of Action DIGITAL III. DRIVE THE I. REFOCUS DIGITAL TRANS- THE BRAND FORMATION GLOBAL AGILE CUSTOMER- CENTRIC II. REFINE THE IV. INNOVATE WAY THE WAY WE SELL WE OPERATE SUSTAINABLE Macquarie Roadshow London HUGO BOSS © November 2017 29
Slide 30: Three key distribution priorities
Three key distribution priorities Increase own retail sales Exploit the full potential of online Further integrate distribution 1 productivity 2 3 across all channels Retail sales productivity ~13,000 In EUR/m2 10,900  Better and broader offering at entry price points  Expansion of casual and athl
Slide 31: Three key distribution priorities
Three key distribution priorities Increase own retail sales Exploit the full potential of online Further integrate distribution 1 productivity 2 3 across all channels hugoboss.com Fulfillment onlinepureplay.com Partner (insourced in 2016) CUSTOMER departmentstore.com Social commerce Macquarie Roadsh
Slide 32: Three key distribution priorities
Three key distribution priorities Increase own retail sales Exploit the full potential of online Further integrate distribution 1 productivity 2 3 across all channels + 90 % of European retail business omnichannel-enabled 32 Macquarie Roadshow London HUGO BOSS © November 2017
Slide 33: Positive reaction from wholesale partners to new Spring/Summer 2018 collection
Positive reaction from wholesale partners to new Spring/Summer 2018 collection  Orders for athleisure wear up at double-digit rates  HUGO orders up solidly driven by double-digit increase in casualwear  Overall order book broadly stable y-o-y, outperforming the global wholesale market Macquarie R
Slide 34: Store renovations will upgrade own retail network
Store renovations will upgrade own retail network Openings Closures Renovations  10-15 freestanding store  15 of 20 stores designated for  Renovations to account for openings will strengthen the closure will be closed by the bulk of retail investments network year-end  First HUGO stores will ope
Slide 35: Strategic Fields of Action
Strategic Fields of Action DIGITAL III. DRIVE THE I. REFOCUS DIGITAL TRANS- THE BRAND FORMATION GLOBAL AGILE CUSTOMER- CENTRIC II. REFINE THE IV. INNOVATE WAY THE WAY WE SELL WE OPERATE SUSTAINABLE Macquarie Roadshow London HUGO BOSS © November 2017 35
Slide 36: Digital transformation comprises the entire value chain
Digital transformation comprises the entire value chain Product & collection Sourcing Distribution Own retail and development and production and logistics wholesale distribution Macquarie Roadshow London HUGO BOSS © November 2017 36
Slide 37: Increasing use of virtual prototyping accelerates collection development
Product and collection development │ Sourcing and production │ Distribution and logistics │ Sales Increasing use of virtual prototyping accelerates collection development  Improved communication flow with suppliers  Reduction of mock-ups and prototypes  100% of HUGO shirt, neckwear and knitwear o
Slide 38: Production facility in Izmir is developing into a smart factory
Product and collection development │ Sourcing and production │ Distribution and logistics │ Sales Production facility in Izmir is developing into a “smart factory” 3D space- Big data Smart Robotics planning analysis factory Real time Voice Augmented Artificial production command reality intelligence
Slide 39: Key elements of logistics infrastructure upgraded or renewed
Product and collection development │ Sourcing and production │ Distribution and logistics │ Sales Key elements of logistics infrastructure upgraded or renewed European flat-packed goods US distribution center distribution center Midway (Georgia), Filderstadt, Germany United States New construction S
Slide 40: New store concepts create strong link between physical and digital retailing
Product and collection development │ Sourcing and production │ Distribution and logistics │ Sales New store concepts create strong link between physical and digital retailing Macquarie Roadshow London HUGO BOSS © November 2017 40
Slide 41: HUGO digital showroom with full order functionality went live in October
Product and collection development │ Sourcing and production │ Distribution and logistics │ Sales HUGO digital showroom with full order functionality went live in October Macquarie Roadshow London HUGO BOSS © November 2017 41
Slide 42: Strategic Fields of Action
Strategic Fields of Action DIGITAL III. DRIVE THE I. REFOCUS DIGITAL TRANS- THE BRAND FORMATION GLOBAL AGILE CUSTOMER- CENTRIC II. REFINE THE IV. INNOVATE WAY THE WAY WE SELL WE OPERATE SUSTAINABLE Macquarie Roadshow London HUGO BOSS © November 2017 42
Slide 43: Digital showroom development demonstrates adoption of new ways of working
Digital showroom development demonstrates adoption of new ways of working  Strict focus on customer value  Delegation of decision making power  Use of Scrum methodology Macquarie Roadshow London HUGO BOSS © November 2017 43
Slide 44: Speed drives commercial success
Speed drives commercial success Adjust collection content based on short-term trends Replenish Become more sold-out flexible in our bestsellers approach in-season towards seasons Demand-driven supply Supplement the regular collection development process with a fast track concept which reduces the ti
Slide 45: Senior management changes brought new expertise to the company
Senior management changes brought new expertise to the company Tony Lucia President and CEO, USA (G-Star, Escada) Filippo Bernasconi Linda Dauriz Director Brand & Director Customer Creative Management Experience & Corporate Shoes and Leather Development (formerly at Bally) (McKinsey & Company) Dr. M
Slide 46: New Chief Financial Officer Yves Müller will take office in December
New Chief Financial Officer Yves Müller will take office in December Responsibilities / / Controlling, Finance, Central Services, Investor Relations and IT 2006 – 2017: CFO at Tchibo 1999 – 2006: Head of group accounting and IT at Tchibo 1994 – 1999: Auditor at Arthur Andersen Macquarie Roadshow Lon
Slide 47: Financial & Operational Outlook
Financial & Operational Outlook Macquarie Roadshow London HUGO BOSS © November 2017 47
Slide 48: Sales outlook upgraded for all three regions
Sales outlook upgraded for all three regions Sales by region* BOSS Store Berlin Kurfürstendamm Increase at a Europe low single-digit percentage rate Americas Largely stable Increase at a low to Asia/Pacific mid single-digit percentage rate *on a currency-adjusted basis Macquarie Roadshow London HUGO
Slide 49: Increased retail sales outlook reflects better than expected year-to-date performance
Increased retail sales outlook reflects better than expected year-to-date performance Sales by channel* BOSS Store Paris Champs-Élysées Mid single-digit increase, Retail low single-digit comp store sales growth Decline at a low to mid Wholesale single-digit percentage rate Licenses Double-digit grow
Slide 50: Operating profit to remain on prior year level in 2017
Operating profit to remain on prior year level in 2017 Low single-digit percentage Sales* rate increase Gross profit margin Slight increase EBITDA Largely stable Specification before special items Low double-digit Consolidated net income percentage rate increase EUR 130 million to Capital expenditur
Slide 51: Strategy execution will drive profitable and sustainable growth
Strategy execution will drive profitable and sustainable growth Profitable and sustainable growth 2019+ Acceleration Stabilization 2018  Grow sales stronger than market, increase 2017 operating profit  Grow sales and stronger than sales  Financial outlook operating profit confirmed  Sales and op
Slide 52: HUGO BOSS will further strengthen its position in the premium apparel industry
HUGO BOSS will further strengthen its position in the premium apparel industry BOSS and HUGO will outgrow their respective market segments Refined strategy will elevate brand desirability and customer experience Agility will become key feature of the operating model Macquarie Roadshow London HUGO BO
Slide 54: Sales by region and major markets
Sales by region and major markets Share of Group sales* Europe Americas Asia/Pacific (incl. Middle East/Africa) 61% 22% 14% Germany: 17% U.S.: 16% China: 8% Great Britain: 12% Canada: 3% Oceania: 2% France: 6% Central & Japan: 2% Benelux: 5% South America: 2% Other: 2% Other: 21% Other: 1% *as of 20
Slide 55: Sales by distribution channel
Sales by distribution channel 38% 35% 44% 41% 49% 53% Wholesale Retail 60% 62% 54% 57% 49% 45% Licenses 2% 2% 2% 2% 2% 3% 2011 2012 2013 2014 2015 2016 Macquarie Roadshow London HUGO BOSS © November 2017 55
Slide 56: Number of Group's own retail stores by region
Number of Group’s own retail stores by region Freestanding Shop-in-Shops Outlets Total As of 30/09/2017 stores Europe 187 342 62 591 Americas 91 99 49 239 Asia/Pacific 157 87 44 288 Total 435 528 155 1,118 Macquarie Roadshow London HUGO BOSS © November 2017 56
Slide 57: Retail comp stores sales
Retail comp stores sales Retail l-f-l sales development* 8 6% 6% 6 5% 4% 4 3% 3% 2% 2% 4% 2 3% 2% 0% 0 0% (3)% (3)% (2) (1)% (4) (6)% (6)% (6)% (6) (8)% (8) FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Jan-Sep 2013 2014 2014 2014 2014 2014 2015 2015 2015 2015 2015 2016 2016 2016 2016 201
Slide 58: Dividend policy
Dividend policy Dividend per share and payout ratio (in EUR) (in %**) 4.00 100 85% 3.62 3.62 3.34 3.12 93% 2.88 80 3.00 66% 64% 78% 2.60 75% 75% 70% 70% 70% 60 2.02 2.00 1.45* 1.37 40 0.96 1.00 20 0.00 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016  Dividend policy of paying out between 60% an
Slide 59: (Adjusted) financial leverage
(Adjusted) financial leverage 2.4 2.2x 2.0 1.6x 1.6 1.5x 1.4x 1.4x 1.3x 1.3x 1.2x 1.2x Net debt / EBITDA 1.2 Net debt incl. operating leases / EBITDAR 0.8 0.6x 0.4 0.3x 0.2x 0.2x 0.1x 0.1x 0.1x 0.0 2009 2010 2011 2012 2013 2014 2015 2016 Operating leases = Future committed operating lease obligation
Slide 60: Sourcing and production structure
Sourcing and production structure* Americas: Western 2% Europe: 12% Own production: 20% Eastern Europe: 46% Asia: 36% Third party production: North 80% Africa: 4% *as of 2016, in value terms Macquarie Roadshow London HUGO BOSS © November 2017 60
Slide 61: Multi-Year overview
Multi-Year overview In EUR million 2016 2015 2014 2013 2012 2011 Sales 2,692.8 2,808.7 2,571.6 2,432.1 2,345.9 2,058.8 Gross profit 1,777.5 1,852.8 1,699.1 1,579.6 1,444.1 1,252.0 EBITDA 432.7 589.9 571.5 561.4 523.9 468.0 EBITDA before special items 493.1 594.1 590.8 564.7 528.1 469.5 EBIT 263.5 44
Slide 62: Analyst coverage
Analyst coverage The HUGO BOSS AG share is covered by the following financial analysts: Macquarie Roadshow London HUGO BOSS © November 2017 62
Slide 63: Shareholder structure
Shareholder structure* 10% PFC S.r.l. / Zignago Holding S.p.A. 2% Own shares 88% Free float *Source: Share register, voting rights notifications (as of November 2017) Macquarie Roadshow London HUGO BOSS © November 2017 63
Slide 64: Financial Calendar 2018 and Investor Relations contact
Financial Calendar 2018 and Investor Relations contact Date Event March 8, 2018 Full Year Results 2017 & Press and Analysts’ Conference May 2, 2018 First Quarter Results 2018 May 3, 2018 Annual Shareholders’ Meeting 2018 Investor Relations Contact Dennis Weber, CFA Frank Böhme Head of Investor Relat
Slide 65: 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 expressions
Slide 66: HUGO BOSS
HUGO BOSS

Hugo Boss — Non-Deal Roadshow (November 2017) on 6ix

Hugo Boss — Non-Deal Roadshow (November 2017)

Slide 1: HUGO BOSS

Slide 2: Macquarie Roadshow

Slide 3: Third Quarter Results 2017

Slide 4: HUGO BOSS records solid sales increase in the third quarter

Slide 5: Europe and Asia/Pacific contribute to sales growth

Slide 6: Pace of growth in own retail accelerates

Slide 7: First BOSS stores refurbished with new store concept

Slide 8: Sales up across both brands

Slide 9: Investments in future growth and currency effects weigh on operating profit

Slide 10: Margin performance differs by region

Slide 11: Sales and earnings increase in the first nine months

Slide 12: Working capital to sales ratio continues to improve

Slide 13: Earnings increase and lower investments drive cash flow growth

Slide 14: Group Strategy Update

Slide 15: Group strategy focuses on four fields of action

Slide 16: Strategic Fields of Action

Slide 17: Two brands: BOSS and HUGO

Slide 18: BOSS and HUGO customers have different attitudes towards fashion

Slide 19: BOSS and HUGO are distinct brands based on a common set of values

Slide 20: BOSS: Upgrade of casualwear and new interpretation of formalwear

Slide 21: BOSS: Rebalanced offer takes advantage of core strength in upper premium

Slide 22: BOSS Menswear collection spans three wearing occasions

Slide 23: BOSS Womenswear collection consists of Business and Casual

Slide 24: Business and Casual form HUGO Menswear

Slide 25: …and HUGO Womenswear collections

Slide 26: HUGO: Refined brand positioning receives strong feedback

Slide 27: HUGO has grown significantly above industry average in recent past

Slide 28: High profile events and campaigns drive brand awareness

Slide 29: Strategic Fields of Action

Slide 30: Three key distribution priorities

Slide 31: Three key distribution priorities

Slide 32: Three key distribution priorities

Slide 33: Positive reaction from wholesale partners to new Spring/Summer 2018 collection

Slide 34: Store renovations will upgrade own retail network

Slide 35: Strategic Fields of Action

Slide 36: Digital transformation comprises the entire value chain

Slide 37: Increasing use of virtual prototyping accelerates collection development

Slide 38: Production facility in Izmir is developing into a smart factory

Slide 39: Key elements of logistics infrastructure upgraded or renewed

Slide 40: New store concepts create strong link between physical and digital retailing

Slide 41: HUGO digital showroom with full order functionality went live in October

Slide 42: Strategic Fields of Action

Slide 43: Digital showroom development demonstrates adoption of new ways of working

Slide 44: Speed drives commercial success

Slide 45: Senior management changes brought new expertise to the company

Slide 46: New Chief Financial Officer Yves Müller will take office in December

Slide 47: Financial & Operational Outlook

Slide 48: Sales outlook upgraded for all three regions

Slide 49: Increased retail sales outlook reflects better than expected year-to-date performance

Slide 50: Operating profit to remain on prior year level in 2017

Slide 51: Strategy execution will drive profitable and sustainable growth

Slide 52: HUGO BOSS will further strengthen its position in the premium apparel industry

Slide 53: Backup

Slide 54: Sales by region and major markets

Slide 55: Sales by distribution channel

Slide 56: Number of Group's own retail stores by region

Slide 57: Retail comp stores sales

Slide 58: Dividend policy

Slide 59: (Adjusted) financial leverage

Slide 60: Sourcing and production structure

Slide 61: Multi-Year overview

Slide 62: Analyst coverage

Slide 63: Shareholder structure

Slide 64: Financial Calendar 2018 and Investor Relations contact

Slide 65: Forward looking statements contain risks

Slide 66: HUGO BOSS