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 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