Annual Report 2024

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Statement of Cash Flows and Free Cash Flow

Statement of cash flows1 (in EUR million)

 

 

2024

 

2023

Cash flow from operating activities

 

786

 

394

Cash flow from investing activities

 

(289)

 

(298)

Cash flow from financing activities

 

(405)

 

(122)

Change in cash and cash equivalents

 

92

 

(29)

Cash and cash equivalents at the beginning of the period

 

118

 

147

Cash and cash equivalents at the end of the period

 

211

 

118

1

As the statement of cash flows is presented on a currency-adjusted basis, the values cannot be derived from the statement of financial position.

Free cash flow amounted to EUR 497 million in fiscal year 2024, significantly exceeding the prior-year level (2023: EUR 96 million) and thus underlining our highly cash-generative business model. This development was mainly driven by strong improvements in trade net working capital. Free cash flow is calculated as the sum of cash flow from operating activities (excluding lease expenses under IFRS 16) and cash flow from investing activities. Net Assets

CHANGE IN CASH AND CASH EQUIVALENTS

(IN EUR MILLION)

Cash flowfromoperatingactivities Cash andcash equivalentsDec. 31, 2023 Cash flowfrominvestingactivities Cash flowfromfinancingactivities Exchange-raterelatedchanges Free cash flow: 497 Cash andcash equivalentsDec. 31, 2024 118 +786 +1 (289) (405) 211

Cash flow from operating activities doubled compared to the prior-year level amounting to a level of EUR 786 million (2023: EUR 394 million), largely reflecting the improvements in trade net working capital achieved in 2024. Cash flow from investing activities remained 3% below the prior year, amounting to EUR 289 million (2023: EUR 298 million). This development reflects the decrease in capital expenditure in fiscal year 2024 against the backdrop of our progress made in driving CapEx efficiency by prioritizing strategically relevant investments. Financial Position, Capital Expenditure

At EUR 405 million, cash flow from financing activities significantly increased year over year (2023: EUR 122 million). In the prior year, HUGO BOSS recorded a higher cash inflow in connection with the issue of the Company’s first Schuldschein loan. Financial Position, Capital Structure and Financing