Moncler Spa · MIL:MONC
Moncler Spa — 9M 2015 Earnings Presentation
23 slides from Moncler Spa's earnings presentation, November 2015
Slide 1: 9M 2015 Financial Results
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Slide 2: Disclaimer
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 with respect to future events an
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Slide 5: Gamme Rouge Spring/Summer 2016
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Slide 6: Madison Avenue / Old Bond Street
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Slide 7: 9M 2015 Results Key Highlights
9M 2015 Results Key Highlights (*) •1 Consolidated Revenues: Eur 561.5m, +25% YoY growth reported (+17% at constant exchange rates) •2 International markets: Eur 454.1m, 81% of total revenues (77% in 9M 2014) •3 Retail Revenues: Eur 334.2m, 60% of total revenues (49% in 9M 2014) •4 Comparable Store
Slide 8: Revenues by Region
Revenues by Region REVENUE ANALYSIS (€m) YoY Growth YoY Growth Reported Const. Curr. 1• Solid double-digit growth +25% +17% achieved in the period 561.5 93.6 +73% +47% 2• International markets now 449.3 account for 81% of total sales 54.0 170.5 (vs. 77% in 9M 2014) +33% +20% 127.7 3• Americas achiev
Slide 9: Revenues by Distribution Channel
Revenues by Distribution Channel REVENUE ANALYSIS (€m) YoY Growth YoY Growth 1• Strong retail performance Reported Const. Curr. driven by both solid organic 561.5 +25% +17% growth and newly opened stores 449.3 2• Retail channel now accounts 334.2 +52% +41% for 60% of consolidated 219.5 revenues (vs.
Slide 10: Monobrand Stores Network
Monobrand Stores Network 1• At end of Sept, the retail network consisted of 166 monobrand stores 2• 32 retail stores were opened in 9M 2015, including: - 20 new retail stores, of which 13 in Q3 (including Berlin, Macau, Singapore, Boston) 30/09/2014 31/12/2014 30/09/2015 - 12 Korean stores Retail 12
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Slide 13: Singapore ION
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Slide 14: Consolidated Income Statement
Consolidated Income Statement 9M 2015 9M 2014 FY 2014 Eur m % Eur m % Eur m % Revenues 561.5 100.0% 449.3 100.0% 694.2 100.0% YoY growth +25% +16% +20% Cost of sales (155.3) (27.7%) (134.8) (30.0%) (192.5) (27.7%) Gross margin 406.2 72.3% 314.5 70.0% 501.7 72.3% Selling expenses (162.2) (28.9%) (117
Slide 15: Consolidated Capex
Consolidated Capex (*) NET CAPEX ANALYSIS (€m) (%) on 7% 9% 7% revenues 39.0 39.4 49.5 1• In the first nine months of 2015, Capex was Eur 39m in line with 9M 2014 7.2 2• Capex was largely driven 5.8 by the retail expansion 4.6 (Eur 27.5m) 9.6 5.3 1.9 3• Corporate investments mainly related to IT 36.
Slide 16: Consolidated Net Working Capital
Consolidated Net Working Capital NET WORKING CAPITAL ANALYSIS (€m) (%) on LTM 18% 14% 19% revenues 147.2 97.1 119.7 1• At end Sept 2015, Net Working Capital was Eur 147m, equal to 18% 128.8 of Last-Twelve-Months 120.6 86.6 sales versus 19% at end Sept 2014 144.8 122.8 130.9 2• Working Capital trend
Slide 17: Consolidated Net Financial Position
Consolidated Net Financial Position NET DEBT ANALYSIS (€m) 152.9 111.2 217.8 1• At end Sept 2015, Net Debt was Eur 153m, significantly below the Eur 218m at end Sept 155.1 2014 140.1 154.3 2• Net Financial Position performance supported 147.5 by solid operating cash 99.3 80.3 flow generation (86.5)
Slide 18: Consolidated Balance Sheet Statement
Consolidated Balance Sheet Statement 30/09/2015 31/12/2014 30/09/2014 Eur m Eur m Eur m Intangible Assets 416.8 414.4 414.8 Tangible Assets 90.4 77.3 73.5 Other Non-current Assets/(Liabilities) 15.8 (14.7) (14.0) Total Non-current Assets 523.0 477.0 474.3 Net Working Capital 147.2 97.1 119.7 Other C
Slide 19: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement 9M 2015 9M 2014 FY 2014 Eur m Eur m Eur m EBITDA Adjusted 174.5 136.1 232.9 Change in Net Working Capital (50.1) (72.8) (50.2) Change in other curr./non-curr. assets/(liabilities) (32.7) 0.3 25.1 Capex, net (39.0) (39.4) (49.5) Operating Cash Flow 52.7 24.2 158.3 Net
Slide 20: Appendix
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Slide 21: Quarterly Revenue Breakdown by Region and Channel
Quarterly Revenue Breakdown by Region and Channel Q1 2015 Q1 2014 YoY Growth % Q2 2015 Q2 2014 YoY Growth % Q3 2015 Q3 2014 YoY Growth % €m % €m % Rep. ex FX €m % €m % Rep. ex FX €m % €m % Rep. ex FX Italy 34.9 17% 32.6 22% +7% +7% 16.6 18% 14.9 21% +11% +11% 56.0 21% 56.3 24% -1% -1% EMEA (excl. It
Slide 22: Quarterly Consolidated Income Statement
Quarterly Consolidated Income Statement Q1 2015 Q1 2014 Q2 2015 Q2 2014 Q3 2015 Q3 2014 €m % €m % €m % €m % €m % €m % Revenues 201.0 100.0% 145.4 100.0% 94.8 100.0% 72.9 100.0% 265.7 100.0% 231.0 100.0% YoY growth +38% +16% +30% +27% +15% +12% Cost of sales (52.7) (26.2%) (40.2) (27.7%) (28.1) (29.6
Slide 23: Shareholding Structure, Upcoming events, IR Contacts
Shareholding Structure, Upcoming events, IR Contacts SHAREHOLDING 2015 Upcoming Events • 1 December – Capital Markets Day Investor Relations Team investor.relations@moncler.com • Paola Durante Investor Relations and Strategic Planning Director paola.durante@moncler.com 31.9% Ruffini Partecipazioni S