Contents. To our shareholders. Consolidated interim financial statements. Consolidated interim management Report. Further information

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1 FIRST HALF YEAR REPORT JANUARY JUNE 2013

2 Contents 2 Contents 1 To our shareholders Letter to Shareholders p. 4 Key Figures p. 6 HUGO BOSS on the Capital Market p. 7 2 Consolidated interim management Report Group Sales and Results of Operations p. 10 General Economic Situation p. 10 Sector Performance p. 11 Sales Performance p. 12 Earnings Development p. 16 Profit Development of the Business Segments p. 19 Net Assets and Financial Position p. 23 Balance Sheet Structure and Key Balance Sheet Ratios p. 23 Net Assets p. 24 Financial Position p. 26 Capital Expenditure p. 27 Report on Risks and Opportunities p. 29 Subsequent Events and Outlook p. 30 Summary on Earnings, Net Assets and Financial Position p Consolidated interim financial statements Consolidated Income Statement p. 36 Statement of Comprehensive Income p. 37 Consolidated Balance Sheet p. 38 Statements of Changes in Consolidated Equity p. 39 Consolidated Statement of Cash Flows p. 40 Condensed Notes to the Consolidated Interim Financial Statements p. 41 Responsibility Statement p Further information Forward-Looking Statements p. 56 Financial Calendar 2013 p. 56 Contacts p. 56

3 TO OUR SHAREHOLDERS 1

4 Letter to Shareholders 4 LETTER TO SHAREHOLDERS Dear Shareholders, Ladies and Gentlemen, In a challenging economic environment, HUGO BOSS reported moderate sales and earnings growth in the first half of The considerable improvement in the second quarter compensated for the results of the first quarter, which were impacted in particular by postponed orders in our wholesale business. In light of the growth prospects for the second half of the year, this means that HUGO BOSS is well on the way to achieving its targets for the year as a whole. In Europe, we achieved moderate sales growth in the first half of the year despite the current economic situation. Like the industry in general, however, we have found ourselves faced with muted consumer spending. By contrast, the Americas continued to show a good growth dynamic. We also improved our performance in Asia over the course of the year, recording a substantial increase in demand in Hong Kong in particular. Over the last recent months, we have initiated important strategic measures that will determine not only the course of business for the rest of the year, but also the medium-term future of HUGO BOSS. In the American market, we have concluded an agreement with Saks for the takeover of 37 HUGO BOSS shopin-shops. Saks is one of our ten most important customers worldwide and is the first partner in the U.S. to give us responsibility for the independent management of its sales spaces. We are confident that the optimization of our product range, well-trained staff and efficient inventory management will lead to a substantial improvement in the sales productivity of these shop-in-shops. A few weeks ago, we were also able to announce the appointment of the renowned fashion designer Jason Wu to the position of Artistic Director for BOSS Womenswear. With the success of his own label, Wu has already demonstrated his design capabilities, his natural instinct for how best to present a brand and his talent for successfully realizing excellent designs in a commercial environment. Our industrial and organizational strength will provide an excellent platform for him to employ these qualities successfully for HUGO BOSS. We will present the first womenswear collection designed by Jason Wu to the fashion world at the New York Fashion Week early next year. Both menswear and womenswear will make a contribution to the Group's planned profitable growth in We still expect to record high single-digit growth in currency-neutral sales. A strong improvement in our own retail activities will offset the weaker than expected performance of our wholesale business, which will be further impacted by the aforementioned takeovers. In the same way as sales, we expect our operating result to see high single-digit growth.

5 Letter to Shareholders 5 Prospects remain positive beyond this year as well. Many of the strategic measures we are initiating this year and the investments we are making in the strength of our brands as well as our presentation at the point of sale will be key elements for the mid- and long-term development of HUGO BOSS. Sincerely yours, Claus-Dietrich Lahrs CEO and Chairman of the Managing Board

6 Key Figures 6 KEY FIGURES Jan. June 2013 Jan. June Change in % 2nd Quarter nd Quarter 2012 Change in % Sales 1, , Sales by segments Europe incl, Middle East and Africa Americas Asia/Pacific Royalties Sales by distribution channel Wholesale (7) Group's own retail business Royalties Results of operations Gross profit Gross profit margin in % bp bp EBITDA EBITDA before special items Adjusted EBITDA margin in % bp bp EBIT (1) Net income attributable to equity holders of the parent company Net assets and liability structure as of June 30 Trade net working capital (12) Non-current assets Equity Equity ratio in % Total assets 1, , Financial position and dividend Free cash flow (13) (10) Net financial liabilities (as of June 30) (22) Capital expenditure > Depreciation/amortization Total leverage 3 (as of Jun 30) (28) Dividend payment Additional key figures Employees (as of June 30) 11,765 11,190 5 Personnel expenses Number of Group's own retail stores Shares (in EUR) Earnings per share Ordinary share Last share price (as of June 30) Ordinary share Number of shares (as of June 30) Ordinary share 70,400,000 70,400,000 70,400,000 70,400,000 1 Certain amounts shown here do not correspond to previous year figures and reflect adjustments made (as detailed in the Condensed Notes to the Consolidated Interim Financial Statements, Note 2 // Accounting Policies). 2 EBITDA before special items/sales. 3 Net financial liabilities/ebitda before special items and expenses for the stock appreciation program of the last 12 months.

7 HUGO BOSS on the Capital Market 7 HUGO BOSS ON THE CAPITAL MARKET After a positive start to the year, the German stock indices continued to rise as the year progressed, reaching new historic highs by mid-may. Despite the subsequent correction, the German stock markets posted increases in the first half year. The HUGO BOSS AG share also posted gains in the first half of the year SHARE PRICE PERFORMANCE 2013 (Index: December 31, 2012 = 100) January February March April May June HUGO BOSS Ordinary Share DAX MDAX Global monetary policy remains main factor driving stock markets in second quarter The positive performance of the German stock markets at the beginning of the year initially continued in the second quarter, with the DAX and MDAX rising to new all-time highs by mid-may. This development was supported by robust U.S. economic data, the new start in Italian politics, and the continued expansive monetary policy of the European and Japanese central banks. However, the stock markets repeatedly came under pressure as the quarter progressed, partly due to speculation regarding a reduction in bond purchases by the U.S. Fed and disappointing economic data from China. Positive performance of HUGO BOSS shares in first half of year After a positive performance in the first quarter, the price of the HUGO BOSS ordinary share continued to rise until early May. The confirmation of the outlook for the year 2013 during the first-quarter results publication was received positively by the capital market, and the share price reached a new all-time high of EUR The subsequent placement of 7 million ordinary shares by the majority shareholder Permira, the distribution of the dividend for fiscal year 2012 and significant uncertainties on the global stock markets led to a decline in the share price over the remainder of the second quarter. Thanks to renewed price increases as of the end of June, the HUGO BOSS ordinary share ended the first half of the year up 6% as against the end of 2012 at EUR The DAX and, in particular, the MDAX rose in value in the first half of 2013 as well. Overall, the DAX and the MDAX climbed by 5% and 15% respectively between January and June. The shares of companies in the fashion and luxury goods industry also posted gains on average in the first half of 2013.

8 HUGO BOSS on the Capital Market 8 The MSCI World Textile, Apparel & Luxury Goods Index, which tracks the performance of companies operating in the area of apparel and luxury goods, rose by 9% in the first half of the year. The performance of HUGO BOSS AG shares in the first half of the year was therefore similar to or slightly weaker than the German benchmark indices and fashion and luxury goods industry shares respectively. Weighting of HUGO BOSS share in MDAX increases At the end of June 2013, the HUGO BOSS ordinary share was ranked 12th in the MDAX by Deutsche Börse on the basis of free float-adjusted market capitalization (June 2012: 12th). In terms of trading volume, the HUGO BOSS ordinary share ranked fourth (June 2012: 11th). Thus, at the end of June, the weighting of the HUGO BOSS ordinary share in the MDAX was 2.6% (June 2012: 1.9%). An average of 171,283 ordinary shares were traded per day in the first half of The average number of ordinary and preferred shares traded per day in the first half of 2012 was 157,565. Since the consolidation of the share classes on June 18, 2012, only ordinary shares have been traded. Voting right notifications in accordance with section 21 WpHG and section 25a WpHG In accordance with section 21 of the Securities Trading Act (WpHG), shareholders are required to report the level of their shareholdings if they exceed or fall below certain thresholds. The reporting thresholds are 3%, 5%, 10%, 15%, 20%, 25%, 30%, 50% and 75%. The Company did not receive any such notifications in the reporting period from January 1 to June 30, On January 24, 2013, HUGO BOSS AG was informed by Mediobanca Banca di Credito Finanziario S.p.A., Milan, Italy, in accordance with section 25a WpHG that it no longer holds any financial or other instruments that could enable it to acquire voting rights. The Company published this notification verbatim on its website in the Investor Relations section under News and Releases. Free float of HUGO BOSS shares increases After the placement of 7 million HUGO BOSS ordinary shares by the majority shareholder Permira on May 3, 2013, the shareholder structure of HUGO BOSS AG as of June 30, 2013 breaks down as follows: 55.62% of the shares are held by Permira Holdings Limited through Red & Black Holding GmbH (March 31, 2013: 65.56%) and 1.97% of the capital is held by HUGO BOSS AG as treasury shares (March 31, 2013: 1.97%). The remaining 42.41% of shares are in free float (March 31, 2013: 32.47%). Reportable securities transaction in accordance with section 15a WpHG One reportable transaction in shares of the Company was reported to the Company by the Managing Board and the Supervisory Board in accordance with section 15a WpHG in the reporting period from January 1 to June 30, In total, members of the Managing Board and the Supervisory Board hold less than 1% of the shares issued by HUGO BOSS AG. Reportable securities transactions are published on the Group's website in the Investor Relations section under News and Releases. Dividend of EUR 3.12 distributed The Annual Shareholders Meeting of HUGO BOSS AG on May 16, 2013 approved the proposal of the Managing Board and the Supervisory Board to distribute a dividend of EUR 3.12 per ordinary share for fiscal year 2012 (2011: EUR 2.88). This corresponds to a payout ratio of 70% of net income attributable to the equity holders of the parent company in 2012 (2011: 70%). The dividend was paid out to the shareholders on the day following the Annual Shareholders Meeting, i.e. on May 17, 2013.

9 CONSOLIDATED INTERIM MANAGEMENT REPORT 2

10 Group Sales and Results of Operations 10 GROUP SALES AND RESULTS OF OPERATIONS GENERAL ECONOMIC SITUATION Continued weak development of global economy in first half of 2013 Following the perceptible slowdown in the global economy at the end of last year, economic activity continued to develop weakly in the first half of While economic output in the U.S. posted moderate growth despite implemented budget cuts in the first half of the year, growth rates in China in the current year remained behind expectations. In Europe, economic activity is still depressed by the debt crisis and the persistently weak export environment. The economic conditions for the HUGO BOSS Group therefore remain challenging. European economy still in recession The European economy still was not able to emerge from recession in the first half of the year The region faced difficulties such as rising unemployment and the implementation of government austerity measures, particularly in the Southern European countries. Growth was also negatively impacted by subdued private consumption in many places, the continued low level of global demand for exports, and weak industrial production. Growth of the German economy in the first half of the year was also slightly weaker than originally expected. Compared to the rest of the euro zone, however, the German economy performed better than average. Strong data from the construction industry and positive consumer sentiment supported this development. American economy grows moderately The U.S. economy continued the moderate growth of the first quarter in the second quarter, too. However, the expansion was not as significant overall as originally expected, partly due to lower government spending and stagnating industrial production. By contrast, there were positive economic signals in the past months from the employment market, the real estate sector and retail, which benefited from continued high propensity to consume. Despite an also fairly robust private consumption in Latin America, the economy in this region suffered from the global economic slowdown in the first half of the year, resulting in disappointing, relatively weak economic data. The core markets of Brazil and Argentina were particularly heavily impacted. Patchy economic growth in Asia In Asia, economic activity was mixed in the first half of 2013, with the economic development deteriorating over the course of the second quarter. Relatively sound domestic demand was offset by still muted export activity. In China, the anticipated upturn in the economy did not materialize in the first half of 2013, with surprisingly weak growth in industrial production standing out in particular. Despite the introduction of programs to stimulate the economy, the unstable economic environment at home and abroad depressed not only private consumption but also import and, in particular, export activities. In Japan, by contrast, the economy has been recovering in the first months of This development was aided by the very expansive monetary policy of the Japanese central bank and a considerable improvement in the business climate and consumer confidence. By contrast, Australian economic growth slowed in the first half of the year due to weaker demand at home and abroad.

11 Group Sales and Results of Operations 11 SECTOR PERFORMANCE Premium and luxury goods industry outperforms economy as a whole The positive growth trend in the global premium and luxury goods industry continued in the current fiscal year despite challenging economic conditions and a weak consumer environment in many key markets. Overall, the sector posted stronger growth than the economy as a whole. The consumer environment remained difficult in Europe on account of the persistent concern over the future of the euro zone. Robust growth in Eastern European markets partly compensated for continued weaker performances in Western and most noticeably Southern Europe. In the metropolitan regions of Western and Southern Europe especially, demand from tourists also supported market growth. In virtually all the region's markets, however, the long winter had a negative impact on demand for clothing. The industry expanded in America thanks to continuing positive consumer sentiment in the relevant market segment. This growth was supported by stable growth rates at U.S. department stores and increasing demand from tourists in major American cities. Demand for premium and luxury goods remained subdued in Asia in the first half of Although the consumer environment in China improved slightly over the course of the year, with Hong Kong and Macao performing somewhat better on average than the Chinese mainland, the weaker general economic development and unclear economic prospects resulted in significantly lower growth rates than those seen in previous years. By contrast, surprisingly positive data were recorded in Japan, where the sector benefited from increased consumer confidence and a shift towards domestic consumption due to exchange rate effects.

12 Group Sales and Results of Operations 12 SALES PERFORMANCE SALES DEVELOPMENT HUGO BOSS increased Group sales by 4% after adjustment for currency effects HUGO BOSS generated Group sales of EUR 1,125 million in the first six months of fiscal year 2013, meaning that sales in Group currency were up 3% on the previous year's level (previous year: EUR 1,092 million). Currency fluctuations had a slight negative effect on Group sales performance in the reporting period. Thus, HUGO BOSS posted a 4% year-on-year sales increase in local currencies. A decline in the wholesale channel was more than compensated by double-digit sales growth in the Group's own retail business. Takeovers of shop-in-shop units previously operated by wholesale partners resulted in a shift in sales from the wholesale business towards the Group's own retail business. SALES BY REGION Jan. June 2013 in % of sales Jan. June 2012 in % of sales Change in % Currencyadjusted change in % Europe Americas Asia/Pacific Royalties TOTAL 1, , Including Middle East and Africa. All regions contributed to positive sales performance Sales in Europe including the Middle East and Africa were up 2% in reporting currency in the first half of the year, amounting to EUR 668 million (previous year: EUR 652 million). This corresponds to a 3% increase in local currencies. Key factor was the sales growth in Western Europe. In the Americas, sales in reporting currency climbed by 6% year-on-year to EUR 263 million (previous year: EUR 248 million). Sales growth of 7% was generated in local currencies in the first half of the year. Continuing positive consumer sentiment in the relevant market segment and demand from tourists in American metropolises supported this dynamic performance. After the first six months of fiscal year 2013, sales in Asia/Pacific were 1% higher than the previous year's level in reporting currency at EUR 169 million (previous year: EUR 168 million). In local currencies, sales rose by 4% as against the same period of the previous year. Despite continuing restraint among consumers, there was a slight improvement in the consumer environment and growing demand on the Chinese mainland, in Hong Kong and in Macao. This development was supported by increasing domestic demand in Japan.

13 Group Sales and Results of Operations 13 SALES BY DISTRIBUTION CHANNEL Jan. June 2013 in % of sales Jan. June 2012 in % of sales Change in % Currenyadjusted change in % Wholesale (7) (7) Group's own retail business Directly operated stores Outlet Online Royalties TOTAL 1, , Sales development in the wholesale channel dominated by changes to delivery cycles, difficult market environment and takeovers In the first half of 2013, sales in the wholesale channel in both reporting currency and in local currencies were down 7% on the level of the previous year and totaled EUR 513 million (previous year: EUR 551 million). Changes to delivery cycles and a difficult market environment led to a decline in sales in the wholesale channel. The takeover of shop-in-shops previously operated by franchisees, particularly in Spain, Switzerland and China, also caused a shift in sales from the wholesale business towards the Group's own retail business. Replenishment, with which HUGO BOSS can react to short-term surges in demand from trading partners, posted a positive performance in the past six months. The share of the wholesale channel in Group sales decreased from 50% in the same period of the previous year to 46% in the reporting period. In the Group's own retail business, double-digit growth rates were achieved in the first six months of fiscal year 2013, as in previous years. The expansion of the store network driven by the opening and takeover of new stores in particular led to an increase in sales of 14% in reporting currency to EUR 588 million in the first half of the year (previous year: EUR 517 million). This is equivalent to a 15% increase in sales after adjustment for currency effects. Sales from the Group's own retail business amounted to 52% of total sales in the reporting period (previous year: 47%). Retail comp store sales remained at the previous year s level in Group currency and increased by 2% in local currencies.

14 Group Sales and Results of Operations 14 SALES BY RETAIL FORMAT Sales from directly operated stores (DOS) increased by 12% to EUR 387 million (previous year: EUR 345 million) and by 14% after adjustment for currency effects in the first half of fiscal year This includes sales of own freestanding stores as well as sales generated with concession partners. In the concession model, the Group independently operates HUGO BOSS shop-in-shop units on the sales floor of the retail partner. Optimization of product arrangement, an increase in service quality and the acceptance of responsibility for the floor's replenishment constitute important leverage for raising selling space productivity. With sales growth of 15% in Group currency to EUR 172 million, outlet stores also contributed to the positive development of sales in the retail channel in the first half of fiscal year 2013 (previous year: EUR 150 million). Adjusted for currency effects, this corresponds to a rise of 16%. Sales generated by the Group's own online stores increased in the past six months by 30% in both reporting currency and in local currencies to EUR 28 million (previous year: EUR 22 million). NUMBER OF GROUP S OWN RETAIL STORES Expansion focused on Europe in first half of 2013 The total number of the Group's own retail stores increased by 61 in net terms to 901 in the first six months of fiscal year 2013 (December 31, 2012: 840). The Group's own retail network was strengthened in particular by the takeover of 42 stores previously operated by wholesale partners. This allowed the concession model in Spain, Great Britain and the U.S. to be expanded, among other things. In addition, the Group continued its expansion strategy with 33 organic new store openings in the first half of the year. This was countered by 14 closings in the same period DEVELOPMENT OF GROUP S OWN RETAIL STORES December 31, 2012 Europe 1 Americas Asia/Pacific Closings June 30, Including Middle East and Africa. In Europe in particular, the retail network was further strengthened by the takeover of 35 shop-in-shop units from wholesale partners as well as through 23 new openings. Here, the Group expanded its presence in the Spanish and British markets in particular. Taking into account five closings, there was a net rise in the number of retail stores in Europe of 53 to currently 522 (December 31, 2012: 469). As a result of the takeover of six shop-in-shop units from a wholesale partner and three new store openings in the U.S., the number of directly operated stores in the Americas rose to 156 as of the end of the first six months of fiscal year 2013 (December 31, 2012: 147).

15 Group Sales and Results of Operations 15 Seven new stores as well as one store which was taken over were added to the store network in Asia/Pacific in the first six months of fiscal year Taking account of the closure of nine locations in this region, the number of directly operated stores stood at 223 at the end of the first half of 2013 (December 31, 2012: 224). ROYALTY SALES Royalty business developed positively in the first half of Products manufactured by partners include fragrances, eyewear, watches, children's fashion, mobile accessories and home textiles. Sales with external licensees increased by 5% as against the previous year to EUR 25 million (previous year: EUR 24 million). Substantial growth was generated in sales with licensees for eyewear and fragrances in particular. SALES BY BRAND In the first half of fiscal year 2013, the core brand BOSS achieved a 3% rise in sales in comparison to the same period of the previous year. The BOSS Green brand also increased its sales by 4%. Sales of the BOSS Orange brand were down 4% on the previous year s level, whereas the HUGO brand posted a sales growth of 11% year-on-year. Menswear sales were up 3% in the reporting period as compared to the same period of the previous year and totaled EUR 1,006 million (previous year: EUR 977 million). This corresponds to an 89% share of total sales (previous year: 89%). Womenswear sales climbed by 3% to EUR 119 million (previous year: EUR 115 million). As in the previous year, womenswear accounted for 11% of total sales.

16 Group Sales and Results of Operations 16 EARNINGS DEVELOPMENT INCOME STATEMENT Jan. June 2013 in % of sales Jan. June in % of sales Change in % Sales 1, , Cost of sales (385.8) (34.3) (397.8) (36.4) 3 Direct selling expenses (22.6) (2.0) (21.4) (2.0) (6) Gross profit Selling and distribution expenses (415.6) (36.9) (380.1) (34.8) (9) Administration costs and other operating income/expenses (114.3) (10.2) (104.1) (9.5) (10) Operating result (EBIT) (1) Net interest income/expenses (5.9) (0.5) (7.4) (0.7) 21 Other financial items (5.4) (0.5) (0.8) (0.1) Financial result (11.3) (1.0) (8.2) (0.8) (38) Earnings before taxes (3) Income taxes (40.4) (3.6) (43.3) (4.0) 7 Net income (1) Attributable to: Equity holders of the parent company Non-controlling interests (54) Net income (1) Earnings per share (in EUR) 2 Ordinary share EBITDA Special items EBITDA before special items Income tax rate in % Certain amounts shown here do not correspond to previous year figures and reflect adjustments made (as detailed in the Condensed Notes to the Consolidated Interim Financial Statements, Note 2 // Accounting Policies). 2 Basic and diluted earnings per share.

17 Group Sales and Results of Operations 17 NOTES TO THE INCOME STATEMENT Gross profit margin rose to 63.7% In the first six months of fiscal year 2013, the gross profit margin increased by 210 basis points to 63.7% (previous year: 61.6%). This positive development is mainly due to the expansion of the Group's own retail business and positive effects from inventory valuation. Higher discounts in the wholesale business and in the Group's own retail business partly offset this effect. At the end of the first half of 2013, gross profit was up 7% year-on-year at EUR 717 million (previous year: EUR 673 million). Expansion of Group's own retail business caused higher distribution expenses At EUR 416 million, selling and distribution expenses were up 9% on the previous year's figure of EUR 380 million in the first six months of fiscal year In relation to sales, selling and distribution expenses rose from 35% to 37%. As a result of the global expansion in the Group's own retail business in particular, distribution expenses increased by EUR 43 million in the first half of 2013 and were therefore up 18% on the previous year's level. This includes additional expenses for a net 61 new locations that were opened or taken over in the reporting period as part of the global expansion of this distribution channel. Marketing expenses decreased by 8% year-on-year, partly as a consequence of a modified distribution of the marketing budget over the year. In relation to sales, logistics expenses remained constant at 5% as against the same period of the previous year. Allowances for doubtful accounts and bad debt losses played a minor role in the 2013 reporting period due to the ongoing systematic receivables management. Administrative costs in relation to sales unchanged year-on-year At EUR 114 million, administrative expenses and the balance of other operating income and expenses were up 10% on the previous year's level in the first six months of fiscal year 2013 (previous year: EUR 104 million). In relation to sales, administrative expenses and the balance of other operating income and expenses amounted to 10%, as in the previous year. As a result of the increased personnel expenses in particular, general administrative expenses rose by 7% and EUR 5 million in absolute terms to EUR 78 million (previous year: EUR 73 million). Special items totaling EUR 4 million (previous year: EUR 0 million) related to reorganization measures in Europe. The internal performance indicator EBITDA before special items increased by 4% compared to the same period of the previous year to EUR 234 million (previous year: EUR 226 million). The adjusted EBITDA margin increased slightly to 20.8% (previous year: 20.7%). Depreciation and amortization increased by 16% as compared to the previous year's level to EUR 43 million (previous year: EUR 37 million). This was due to greater investment intensity for the Group's own retail business. EBIT amounted to EUR 187 million in the first half of fiscal year 2013, down 1% on the previous year's level (previous year: EUR 189 million). The improvement in the gross profit margin did not fully offset the higher operating expenses in distribution and marketing as well as in administration. As the total of net interest expenses and other net financial expenses, the financial result rose by EUR 3 million to EUR 11 million in the first six months of fiscal year 2013 (previous year: EUR 8 million). Net interest expenses declined by 21% to EUR 6 million (previous year: EUR 7 million) as a result of reduced debt and lower interest rate level. The other financial items amounted to a net expense of EUR 5 million, representing an increase of EUR 4 million as against the previous year s net expense of EUR 1 million due to negative currency effects. Earnings before taxes thus fell by 3% to EUR 176 million (previous year: EUR 181 million). At 23%, the tax rate was one percentage point below the previous year's level of 24%. Regionally different profit shares of the domestic and foreign subsidiaries of the HUGO BOSS Group, together with a slight decrease in corporate tax rates on an international level, led to a reduction in the Group tax rate.

18 Group Sales and Results of Operations 18 Net income slightly below previous year's level At EUR 135 million, net income in the first half of fiscal year 2013 was down 1% on the previous year's figure of EUR 137 million. At EUR 134 million, the net income attributable to equity holders of the parent company was on previous year's level. Non-controlling interests fell to EUR 1 million in the same period (previous year: EUR 3 million) and primarily related to the 40% share held by the Rainbow Group in the "joint venture" companies in China. As in the same period of the previous year, earnings per share amounted to EUR 1.94 (previous year: EUR 1.94).

19 Profit Development of the Business Segments 19 PROFIT DEVELOPMENT OF THE BUSINESS SEGMENTS EUROPE 02/02 SALES DEVELOPMENT EUROPE 02/03 PROFIT DEVELOPMENT EUROPE Jan.-June 2012 Jan.-June 2013 Jan.-June 2012 Jan.-June % + 1 % Sales in Europe including the Middle East and Africa amounted to EUR 668 million in the first six months of fiscal year 2013 (previous year: EUR 652 million) and is up 2% year-on-year in reporting currency and 3% after adjustment for currency effects. Significant sales growth in the Group s own retail business offsets decline in the wholesale business At EUR 192 million, sales in Germany were 4% higher than the previous year's level (previous year: EUR 185 million). The positive development in the Group s own retail business was a key factor in this improvement. The wholesale business marked a slight increase. In France and Great Britain, double-digit sales growth in the Group's own retail business compensated for the drop in sales generated with wholesale partners in the first half of the year. Sales in France were up 8% on the previous year's level at EUR 79 million (previous year: EUR 73 million). In Great Britain, sales rose by 6% year-on-year in reporting currency to EUR 92 million (previous year: EUR 87 million). This corresponds to a 9% increase in local currency. Due to a difficult market environment in the Netherlands, sales in the Benelux countries were down 7% on the level of the same period of the previous year at EUR 72 million (previous year: EUR 77 million). Sales in the Group's own retail business in Europe increased by 21% in the past six months to EUR 329 million (previous year: EUR 271 million). This corresponds to a rise of 22% in local currencies. Over the same period, sales with wholesale customers declined by 11% in reporting currency and local currencies to EUR 339 million (previous year: EUR 381 million). This development was influenced significantly by the challenging market environment and the change in delivery cycles in the preorder business. In addition, takeovers of shop-in-shop units previously operated by wholesale partners, particularly in Spain and Switzerland, resulted in a shift in sales from the wholesale business towards the Group's own retail business. Segment profit up on previous year due to rise in gross profit margin The segment profit of EUR 240 million in Europe was 1% above the previous year's level of EUR 236 million. Higher selling and marketing expenses were more than offset by the rise in the gross profit margin. The adjusted EBITDA margin declined slightly to 35.8% (previous year: 36.2%).

20 Profit Development of the Business Segments 20 AMERICAS 02/04 SALES DEVELOPMENT AMERICAS 02/05 PROFIT DEVELOPMENT AMERICAS Jan.-June 2012 Jan.-June 2013 Jan.-June 2012 Jan.-June % - 1 % In the Americas, sales in reporting currency climbed by 6% year-on-year to EUR 263 million (previous year: EUR 248 million). Sales growth of 7% was generated in local currencies in the first half of the year. This dynamic performance was supported by a consistently positive consumer sentiment in the relevant market segment. U.S. still Group's largest single market In the U.S., sales rose by 6% in reporting currency and were again higher than the previous year's figure at EUR 206 million (previous year: EUR 194 million). Sales growth of 7% was achieved in local currency. Increases in retail comp store sales and targeted new store openings resulted in double-digit sales growth in the Group's own retail business in the U.S. in the past six months. Growth was also posted in the wholesale channel. In Canada, sales were down 2% on the level for the same period of the previous year at EUR 31 million (previous year: EUR 32 million). Despite a challenging market environment, especially in the wholesale channel, sales climbed by 1% year-on-year after adjustment for currency effects. In spite of a relatively weak economy in Central and South America, sales rose by 17% in reporting currency to EUR 26 million (previous year: EUR 22 million). A sales increase of 15% was generated in local currencies as well. Sales in the Group's own retail business increased by 13% in reporting currency in the first half of the year to EUR 125 million (previous year: EUR 111 million). Adjusted for currency effects, this corresponds to a rise of 14%. In the wholesale channel, sales of EUR 138 million were generated in the same period (previous year: EUR 137 million). Sales therefore increased by 1% in Group currency and 2% in local currencies. Segment profit down 1% year-on-year The segment profit of EUR 63 million in the Americas region was 1% below the previous year's level of EUR 64 million. Negative effects from higher sales deductions in wholesale and the Group's own retail business and disproportional rises in fixed costs, particularly due to the expansion of the Group's own retail business, caused a deterioration in segment profit. After the first six months of fiscal year 2013, the adjusted EBITDA margin in this region was therefore 24.1% (previous year: 25.9%).

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