The net financial position is measured as the total of all financial and lease liabilities less cash and cash equivalents. Excluding the impact of IFRS 16, the net financial position of HUGO BOSS at the end of fiscal year 2024 improved to minus EUR 78 million (December 31, 2023: minus EUR 213 million). Including the impact of IFRS 16, this corresponds to a total of minus EUR 1,038 million (December 31, 2023: minus EUR 1,006 million). Financial Position, Capital Structure and Financing Notes to the Consolidated Financial Statements, Note 9