Hugo Boss : Consolidated financial statements 2021

CHAPTER 4

CONSOLIDATED FINANCIAL STATEMENTS

196

201

CONSOLIDATED INCOME STATEMENT

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR FISCAL YEAR 2021

197

218 Notes to the Consolidated Income Statement

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

226 Notes to the Consolidated Statement of Financial Position

261 Other Notes

269 Managing Board

270 Supervisory Board

198

271 Additional Disclosures on the Members of the

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Supervisory Board and the Managing Board

272 Publication

273 Shareholdings of HUGO BOSS AG

199

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

200

CONSOLIDATED STATEMENT OF CASH FLOWS

195

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SHAREHOLDERS	MANAGEMENT REPORT	GOVERNANCE	FINANCIAL STATEMENTS	INFORMATION

CONSOLIDATED INCOME STATEMENT

for the period from January 1 to December 31, 2021

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (IN EUR THOUSAND)

Notes	2021	2020
Sales	(1)	2,786,110	1,945,843
Cost of sales	(1)	(1,065,301)	(758,641)
Gross profit	1,720,809	1,187,202
In % of sales	61.8	61.0
Selling and distribution expenses	(2)	(1,190,623)	(1,137,977)
Administration expenses	(3)	(302,187)	(284,843)
Operating result (EBIT)	228,000	(235,618)
Net interest income/expenses	(20,688)	(26,168)
Other interest and similar income	1,869	2,281
Interest and similar expenses	(22,557)	(28,449)
Other financial items	(10,437)	(11,450)
Financial result	(4)	(31,125)	(37,618)
Earnings before taxes	196,874	(273,236)
Income taxes	(5)	(52,749)	54,054
Net income	144,125	(219,182)
Attributable to:
Equity holders of the parent company	137,339	(219,593)
Non-controlling interests	6,786	412
Earnings per share (EUR)1	(6)	1.99	(3)
Dividend per share (EUR)2	(16)	0.70	0.04
196

1 Basic and diluted earnings per share.

2

2021: Proposed dividend.

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SHAREHOLDERS	MANAGEMENT REPORT	GOVERNANCE	FINANCIAL STATEMENTS	INFORMATION

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

for the period from January 1 to December 31, 2021

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (IN EUR THOUSAND)

2021	2020
Net income	144,125	(219,182)
Items that will not be reclassified to profit or loss
Remeasurements of defined benefit plans	8,635	(4,071)
Items may be reclassified subsequently to profit or loss
Currency differences	31,160	(18,707)
Gains/losses from cash flow hedges	(1,402)	(3,153)
Other comprehensive income, net of tax	38,393	(25,931)
Total comprehensive income	182,518	(245,113)
Attributable to:
Equity holders of the parent company	174,337	(245,054)
Non-controlling interests	8,180	(58)
Total comprehensive income	182,518	(245,113)
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SHAREHOLDERS	MANAGEMENT REPORT	GOVERNANCE	FINANCIAL STATEMENTS	INFORMATION

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

as of December 31, 2021

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (IN EUR THOUSAND)

Assets	Notes	2021	2020
Property, plant and equipment1	(8)	417,974	404,013
Intangible assets	(8)	163,632	170,272
Right-of-use assets1	(9)	695,092	747,969
Deferred tax assets	(5)	160,163	171,212
Non-current financial assets	(11), (22)	19,570	21,476
Other non-current assets	(11)	1,125	628
Non-current assets	1,457,556	1,515,570
Inventories	(12)	605,554	618,458
Trade receivables	(13)	234,527	172,001
Current tax receivables	(5)	14,655	18,484
Current financial assets	(11), (22)	27,465	20,717
Other current assets	(11)	111,071	99,985
Cash and cash equivalents	(14)	284,694	125,277
Current assets	1,277,966	1,054,922
Total	2,735,522	2,570,492
Equity and liabilities
Subscribed capital	(15)	70,400	70,400
Own shares	(15)	(42,363)	(42,363)
Capital reserve	399	399
Retained earnings	849,603	706,391
Accumulated other comprehensive income	47,348	18,984
Equity attributable to equity holders of the parent company	925,387	753,811
Non-controlling interests	14,306	6,126
Group equity	939,693	759,937
Non-current provisions	(17), (18), (19)	101,846	91,216
Non-current financial liabilities	(20), (22)	103,445	196,053
Non-current lease liabilities	(9)	601,156	649,400
Deferred tax liabilities	(5)	10,643	12,541
Other non-current liabilities	(21)	896	1,617
Non-current liabilities	817,986	950,827
Current provisions1	(17)	99,093	79,439
Current financial liabilities	(20), (22)	32,025	84,585
Current lease liabilities	(9)	193,429	212,876
Income tax payables	(5)	28,364	41,525
Trade and other payables	464,408	299,237
Other current liabilities1	(21)	160,524	142,066
Current liabilities	977,843	859,728
Total	2,735,522	2,570,492
198

1 Amounts shown differ from those reported in the previous year due to reclassifications

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SHAREHOLDERS	MANAGEMENT REPORT	GOVERNANCE	FINANCIAL STATEMENTS	INFORMATION

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

for the period from January 1 to December 31, 2021

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (IN EUR THOUSAND)

Notes

January 1, 2020

Net income Other income

Comprehensive income

Dividend payment

Acquisition of non-controlling interests

December 31, 2020

Subscribed capital

(15)

70,400

70,400

Own shares

(15)

(42,363)

(42,363)

Capital reserve

399

399

Retained earningsLegal reserves

6,641

6,641

Other reserves

926,175

(219,593)

(4,071)

(223,664)

(2,761)

699,750

Accumulated othercomprehensive income

Gains/losses

Currency from cash flow translation hedges

39,194

(18,237)

(18,237)

20,957

1,180

(3,153)

(3,153)

(1,973)

Total before non-controlling interests

1,001,627

(219,593)

(25,461)

(245,054)

Annual Report 2021

Group equityNon-controlling interests

41

Group equity

1,001,668

412 (219,182)

(470) (25,931)

(58) (245,113)

(2,761) (2,761)

753,811

6,143 6,143

6,126 759,937

Net income Other income

January 1, 2021

Comprehensive income

Dividend payment

31. Dezember 2021

70,400	(42,363)	399	6,641	699,750	20,957	(1,973)	753,811	6,126	759,937
137,339	137,339	6,786	144,125
8,635	29,766	(1,402)	36,999	1,394	38,393
145,974	29,766	(1,402)	174,337	8,180	182,518
(2,761)	(2,761)	(2,761)
70,400	(42,363)	399	6,641	842,963	50,723	(3,375)	925,387	14,306	939,693

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