Hugo Boss : Solid organic growth but slightly disappointing profitability. 2018 guidance maintained
>Q4 2018 revenue growth of 6.2%cc (vs. consensus 5.2%cc), 1% ahead of the consensus, EBITDA 3% short of the consensus - Hugo Boss Q2 2018 revenues (€ 653m, 6.2%cc) beat the consensus by 1%. Organic growth came in at 6.2%cc (vs Oddo BHF 3.8%cc and 5.2%cc for the cons). Q2 2018 EBITDA came in at € 105m (16.1% margin, - 190bp), 3% shy of the consensus Q2 2018 revenues and EBITDA by region:Europe (revenues of € 399m, +9%cc, 4% better than our expectations / EBI...HUGO BOSS Group is engaged in the global apparel market. The Group, which is based in Metzingen Germany employs almost 12,500 people, generated annual sales of EUR 2.4 billion in fiscal year 2013 and is an apparel manufacturer. The Group focuses on developing and marketing high-end women's and men's fashion and accessories. With its brand including the BOSS core brand, the lines BOSS Orange, BOSS Green and the progressive brand HUGO, Co. targets different, consumer groups. The brands consists of modern business wear, evening wear and sportswear, shoes and leather accessories as well as licensed fragrances, eyewear, watches, children's fashion, home textiles and mobile accessories.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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