BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - HUGO BOSS (HUGSF.PK) generated first quarter operating profit (EBIT) of 40 million euros, compared to 1 million euros, prior year. The company said increase in EBIT is mainly attributable to the strong sales growth as well as an improvement in gross margin, as a higher share of full-price sales more than compensated for the persistently high level of global freight and transportation costs. Net income to equity holders was 24 million euros or 0.35 euros per share compared to a loss of 9 million euros or 0.13 euros per share, last year.
Group sales increased 52% currency-adjusted to 772 million euros from 497 million euros, prior year. In Group currency, revenues increased 55%.
The company continues to expect Group sales in 2022 to increase between 10% and 15% to a new record level of between 3.1 billion euros and 3.2 billion euros. EBIT in fiscal 2022 is expected to increase within a range of 10% to 25% to an amount of between 250 million euros and 285 million euros. The company continues to expect net income to improve to a level of between 150 million euros and 180 million euros.
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