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Financial position

Statement of cash flow HUGO BOSS AG (in EUR million)






Cash flow from operating activities





Cash flow from investing activities





Cash flow from financing activities





Change in cash and cash equivalents





Cash and cash equivalents at the beginning of the period





Cash and cash equivalents at the end of the period





At EUR 302 million, the cash outflow from operating activities was up 26% on the prior-year figure (2013: EUR 240 million). The increase is mainly attributable to the EUR 81 million rise in net income combined with decreased cash outflow from trade net working capital.

The cash outflow from investing activities decreased in fiscal year 2014 by 15% to EUR 62 million (2013: EUR 73 million). This decrease is on the one hand attributable to a smaller amount of receivables from affiliated companies compared to the prior year. On the other hand, investment in property, plant and equipment and intangible assets was, at EUR 34 million, below the prior-year level (2013: EUR 39 million).

Substantial increase in free cash flow

Free cash flow, measured as the cash inflow from ongoing operating activities and the cash outflow from investing activities, increased in fiscal year 2014 by EUR 72 million to EUR 239 million (2013: EUR 167 million).

As of December 31, 2014 the cash outflow from financing activities totaled EUR 238 million (2013: EUR 170 million). Alongside the payment of the dividend of EUR 231 million a cash outflow from liabilities due to affiliated companies of EUR 6 million characterized the development (2013: cash inflow of EUR 45 million).

Cash and cash equivalents, as the sum of cash on hand and bank balances, increased in comparison to December 31, 2013 by EUR 2 million to EUR 5 million (December 31, 2013: EUR 3 million).

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