Moncler Spa · MIL:MONC
Moncler Spa — Moncler Spa Ord — H1 2024 Earnings Presentation
27 slides from Moncler Spa's earnings presentation, Jul 24, 2024
Slide 1: Financial Results H1 2024
FINANCIAL RESULTS, Hi 202 a? yo por
Slide 2: Speakers
Moncler Group H1 2024 Financial Results 2 Speakers GINO FISANOTTI ROBERTO EGGS Moncler Group Chief Brand Officer Chief Business Strategy and Global Market Officer LUCIANO SANTEL ELENA MARIANI Group Group Chief Corporate Strategic Planning and and Supply Officer Investor Relations Director
Slide 3: CEO quote on first half results
Moncler Group H1 2024 Financial Results 3 “We are very pleased with the solid set of results we delivered in the first half of the year amid a generally complex operating environment for the luxury goods sector. Both our brands enjoyed strong growth in the DTC channel across all regions and the Grou
Slide 4: Moncler Group H1 2024 Results Highlights
Moncler Group H1 2024 Financial Results 4 4 MONCLER GROUP | H1 2024 Results Highlights 1 GROWTH AT CFX YOY GROUP MONCLER STONE ISLAND REVENUES REVENUES REVENUES H1 2024 H1 2024 H1 2024 EUR 1,230.2m (+11%) EUR 1,041.3m (+15%) EUR 188.9m (-5%) Q2 2024 Q2 2024 Q2 2024 EUR 412.2m (+3%) EUR 336.3m (+5%)
Slide 5: Moncler Q2 Highlights
H1 2024 Financial Results 5 MONCLER | Q2 Highlights Moncler x During Milan Design Week, Moncler was celebrated at the intersection of Art, Creativity and Design. Milano Design Week: Full Stazione Centrale Working with iconic French artist JR, Moncler took over the Milan Central Station façade for mo
Slide 6: Moncler Q2 Highlights
H1 2024 Financial Results 6 MONCLER | Q2 Highlights Moncler SS 2024 Collection: For Spring/Summer 2024, Moncler Collection continued its exploration of elevated athleisure clothing. An Athleisure Evolution Lightweight and practical designs kept pace with relaxed outdoor pursuits or dynamic city adve
Slide 7: Stone Island Q2 Highlights
H1 2024 Financial Results 7 STONE ISLAND | Q2 Highlights Stone Island + Dior A capsule co-designed by Kim Jones Studio and Stone Island, a tribute to Christian Dior and Massimo Osti, the Capsule Collection founders of the houses, and their shared passion for perfection and excellence in processes an
Slide 8: Stone Island Q2 Highlights
H1 2024 Financial Results 8 STONE ISLAND | Q2 Highlights Stone Island Prototype The Stone Island Prototype Research Series 08 was presented against the backdrop of Milan Design Week. Research Series 08 A limited edition born from cutting-edge research and experimental processes that have not been in
Slide 9: Moncler Revenues by Geography
H1 2024 Financial Results 9 MONCLER | Revenues by Geography MONCLER REVENUES (EUR M; CFX GROWTH %) Q2 H1 H1 2024 Moncler brand revenues reached EUR 1,041.3m, +15% vs. H1 2023. AMERICAS EMEA Q2 recorded 5% growth vs. Q2 2023, ASIA supported by solid growth in the DTC channel. +15% 1,041.3 ASIA (which
Slide 10: Moncler Revenues by Channel
H1 2024 Financial Results 10 MONCLER | Revenues by Channel MONCLER REVENUES (EUR M; CFX GROWTH %) Q2 H1 WHOLESALE DTC Moncler DTC1 revenues rose to EUR 875.7m in H1 2024, +19% vs. H1 2023. +15% Comparable Store Sales Growth (CSSG)2 was +14% in H1 2024. 1,041.3 In the second quarter, DTC revenues gre
Slide 11: Stone Island Revenues by Geography
H1 2024 Financial Results 11 STONE ISLAND | Revenues by Geography STONE ISLAND REVENUES (EUR M; CFX GROWTH %) Q2 H1 Stone Island H1 2024 brand revenues reached EUR 188.9m, -5% vs. H1 2023. AMERICAS EMEA Q2 revenues were down 4% vs. Q2 2023, with ASIA the strong double-digit growth in the DTC (5%) ch
Slide 12: Stone Island Revenues by Channel
H1 2024 Financial Results 12 STONE ISLAND | Revenues by Channel STONE ISLAND REVENUES (EUR M; CFX GROWTH %) Q2 H1 WHOLESALE DTC (5%) Stone Island recorded WHOLESALE revenues of EUR 96.3m in H1 2024, -24% YoY. 201.6 188.9 In the second quarter, revenues declined by 28%, impacted by challenging market
Slide 13: Group Mono-Brand Store Network
Moncler Group H1 2024 Financial Results 13 Group Mono-Brand Store Network 30.06.2024 31.03.2024 31.12.2023 Moncler Stone Island Moncler Stone Island Moncler Stone Island Asia 137 51 135 50 132 48 EMEA 95 27 95 26 95 26 Americas 45 7 45 7 45 7 RETAIL 277 85 275 83 272 81 WHOLESALE 56 13 56 13 57 15
Slide 14: Moncler Macau Four Seasons
H1 2024 Financial Results 14 Moncler Macau Four Seasons
Slide 15: Stone Island Vienna Kohlmarkt
H1 2024 Financial Results 15 Stone Island Vienna Kohlmarkt
Slide 16: Income Statement
Moncler Group H1 2024 Financial Results 16 Income Statement H1 2024 gross margin increase is primarily driven by the G&A expenses had a 13.5% incidence on revenues Marketing expenses represented 8.0% of revenues, positive channel mix, with a higher incidence of the DTC reflecting continuous investme
Slide 17: Net Capex
Moncler Group H1 2024 Financial Results 17 Net Capex EUR M H1 FY INFRASTRUCTURE DISTRIBUTION 174.1 In H1 2024, consolidated capex were EUR 69.5 56.1m, compared to EUR 69.5m in H1 2023, due 73.3 to a different phasing of spending in H1 vs. H2 compared to the previous year. Investments 56.1 related to
Slide 18: Net Working Capital
Moncler Group H1 2024 Financial Results 18 Net Working Capital EUR M H1 FY ACCOUNTS RECEIVABLE INVENTORY ACCOUNTS PAYABLE Net consolidated working capital reached EUR 262.2 242.2 262.2m as of 30 June 2024, with the incidence 240.2 on LTM revenues equal to 8.5%, compared to 152.7 177.8 EUR 242.2m as
Slide 19: Net Financial Position
Moncler Group H1 2024 Financial Results 19 Net Financial Position 1 EUR M H1 FY As of 30 June 2024, the Group’s net financial 845.8 1,033.7 position was positive and equal to EUR 845.8m. Net cash flow in the first half of 2024 was negative and equal to EUR 187.8m after the payment of EUR 303.1m of d
Slide 20: Balance Sheet Statement
Moncler Group H1 2024 Financial Results 20 Balance Sheet Statement 30/06/2024 31/12/2023 30/06/2023 EUR m EUR m EUR m Brands 999.4 999.4 999.4 Goodwill 603.4 603.4 603.4 Fixed assets 438.0 442.1 398.1 Right-of-use assets 746.6 737.5 771.0 Net working capital 262.2 240.2 242.2 Other assets / (liabili
Slide 21: Cash Flow Statement
Moncler Group H1 2024 Financial Results 21 Cash Flow Statement 1 H1 2024 H1 2023 FY 2023 EUR m EUR m EUR m EBIT 258.7 217.8 893.8 D&A 60.4 54.6 114.2 Other non cash adjustments 7.8 9.0 15.3 Change in net working capital (22.0) (50.5) (48.5) 2 Change in other assets / (liabilities) (59.8) (135.7) 3.7
Slide 22: Appendix
Moncler Group H1 2024 Financial Results 22 Appendix
Slide 23: EBITDA Reconciliation
Moncler Group H1 2024 Financial Results 23 EBITDA Reconciliation H1 2024 H1 2023 FY 2023 EUR m % EUR m % EUR m % EBIT 258.7 21.0% 217.8 19.2% 893.8 30.0% D&A 60.4 4.9% 54.6 4.8% 114.2 3.8% Rights-of-use-amortisation 90.8 7.4% 88.0 7.7% 177.5 5.9% Stock-based compensation 21.9 1.8% 19.7 1.7% 40.0 1.3
Slide 24: 2022-2024 Half-Year Income Statement
Moncler Group H1 2024 Financial Results 24 2022-2024 Half-Year Income Statement H1 2024 H1 2023 H2 2023 H1 2022 H2 2022 FY 2023 FY 2022 EUR m % EUR m % EUR m % EUR m % EUR m % EUR m % EUR m % REVENUES 1,230.2 100.0% 1,136.6 100.0% 1,847.6 100.0% 918.4 100.0% 1,684.5 100.0% 2,984.2 100.0% 2,602.9 100
Slide 25: 2024 Revenues Quarterly Performance
Moncler Group H1 2024 Financial Results 25 2024 Revenues Quarterly Performance Group Q1 24 vs 23 Q2 24 vs 23 H1 24 vs 23 EUR m 2024 2023 cFX 2024 2023 cFX 2024 2023 cFX Moncler 705.0 604.8 +20% 336.3 330.2 +5% 1,041.3 935.0 +15% Stone Island 113.0 121.6 -5% 75.9 80.0 -4% 188.9 201.6 -5% Group total
Slide 26: Financial Calendar, Shareholding, IR contacts
Moncler Group H1 2024 Financial Results 26 Financial Calendar, Shareholding, IR contacts UPCOMING EVENT 29 October 2024 9M 2024 Interim Management Statement SHAREHOLDING STRUCTURE1 % N. SHARES (M) IR CONTACTS Double R S.r.l. 15.8% 43.4 investor.relations@moncler.com ELENA MARIANI Moncler Group Strat
Slide 27: Disclaimer
H1 2024 Financial Results 27 Disclaimer This presentation is being furnished to you solely for your information and may not be reproduced or redistributed to any other person. This presentation might contain certain forward-looking statements that reflect the Company’s management’s current views wit