Sales Europe (in EUR million)
Share in sales Europe 2015 (2014)
Sales in Europe including the Middle East and Africa increased in fiscal year 2015 by 7% in the reporting currency to EUR 1,683 million (2014: EUR 1,567 million). This corresponds to an increase of 6% in local currencies.
Sales in region determined by Group’s own retail business
Sales in the Group’s own retail business increased by 12% in Europe to EUR 956 million in the past fiscal year (2014: EUR 851 million). This is equivalent to a 10% increase in local currencies. In addition to continued selling space expansion, this favorable performance was particularly due to the enhanced productivity of existing retail selling space. Sales with customers in the wholesale channel increased in the reporting currency by 2% to EUR 727 million (2014: EUR 716 million). They slightly increased by 1% adjusted for currency effects.
Great Britain still the fastest growing core market within the region
At EUR 465 million, sales in Germany rose to 4% above the prior year’s level (2014: EUR 448 million). This favorable performance was underpinned by both the Group’s own retail business and the wholesale business. In Great Britain, both the Group’s own retail business and the business with wholesale partners recorded double-digit sales growth. Sales in Great Britain in the Group’s reporting currency reached EUR 332 million, up 27% on the prior year (2014: EUR 262 million). In the local currency, this corresponds to sales growth of 15%. In France, sales came to EUR 179 million, up 5% on the prior year (2014: EUR 171 million). Growth in the high single digits in the Group’s own retail business thus offset the declining wholesale business. Reflecting the continuing consolidation in the wholesale channel, sales in the Benelux countries were 2% down on the prior year at EUR 141 million (2014: EUR 145 million). The Group’s own retail business also fell off slightly in this market last year. The business in Eastern Europe developed well in the last fiscal year. In Southern Europe HUGO BOSS was able to generate sales growth in fiscal year 2015 in both Italy and the Iberian Peninsula. Double-digit growth rates in the Group’s own retail business led to a significant rise in sales, particularly in Italy.
Profit development Europe
Segment profit slightly down from prior year
At EUR 535 million, segment profit in Europe was slightly down on the previous year (2014: EUR 536 million). Negative exchange rate effects as well as higher selling and marketing expenses depressed earnings in this region. At 31.8%, the adjusted EBITDA margin was down 240 basis points on the previous year (2014: 34.2 %).