Moncler Spa · MIL:MONC
Moncler Spa — H1 2023 Earnings Presentation
27 slides from Moncler Spa's earnings presentation, 2023
Slide 1: H1 2023 Financial Results
H1 2023 Financial Results 1 H1 2023 FINANCIAL RESULTS
Slide 2: Remo Ruffini quote on Group revenues exceeding €1bn
H1 2023 Financial Results 2 “For the first time in our history, Group revenues exceeded the €1bn mark in the first half of the year. I am proud of this significant milestone, a testament to the great teamwork, innovative thinking, and customer-centric approach that defines our Group”. Remo Ruffini
Slide 3: Moncler Group H1 2023 Results Highlights
H1 2023 Financial Results 3 MONCLER GROUP | H1 2023 Results Highlights 1 SOLID DOUBLE-DIGIT GROWTH CONTINUING IN THE SECOND QUARTER GROUP REVENUES MONCLER REVENUES STONE ISLAND REVENUES H1 revenues EUR 1,136.6m, +24% vs 2022 H1 revenues EUR 935.0m, +29% vs 2022 H1 revenues EUR 201.6m, +5% vs 2022 Q2
Slide 4: Moncler Grenoble
H1 2023 Financial Results 4 MONCLER | Grenoble From Grenoble SS23 Launch of Moncler Grenoble collections across the entire first half of the year for the first time. to Pre-Fall23 The Grenoble SS23 collection launched in February, led by global snowboarding icon Shaun White, was followed by a new Pr
Slide 5: Moncler Genius
H1 2023 Financial Results 5 MONCLER | Genius The Art of Genius Launch of two collections on the back of Moncler’s biggest Genius event ever, The Art of Genius: Moncler Genius x Alicia Keys «Where Dreams Are Made Of» was the brand inspiration for this collection and campaign, based on Alicia Keys’ fa
Slide 6: Moncler Main Collection
H1 2023 Financial Results 6 MONCLER | Main Collection SS23 Moncler Launch of the first ever Moncler Collection Summer campaign. Collection Produced in partnership with French photographer Thierry Le Gouès, this campaign celebrates Moncler summer in style, focusing on the beautiful aesthetics of core
Slide 7: Moncler Digital
H1 2023 Financial Results 7 MONCLER | Digital H1 Highlights Digital Marketing . Social activities 4x YoY, driving +81% more reach and +84% more brand-customer engagement. Moncler.com KPIs vs 2022 . FRGMT generated the biggest organic social media engagement of the year. . PDP (Product Detail Page) v
Slide 8: Moncler Revenues by Geography
H1 2023 Financial Results 8 MONCLER | Revenues by Geography H1 2023 Moncler brand revenues reached EUR 935.0m, ASIA (which includes APAC, Japan and Korea) in Q2 EMEA revenues increased in Q2 by 30% vs 2022, +29% vs 2022. accelerated to 55% growth vs 2022. APAC recorded a supported by solid demand fr
Slide 9: Moncler Revenues by Channel
H1 2023 Financial Results 9 MONCLER | Revenues by Channel Moncler DTC1 revenues reached EUR 757.5m in H1 2023, In the second quarter, DTC revenues grew 45% vs 2022, WHOLESALE revenues rose to EUR 177.5m in H1 2023, up +37% vs 2022. supported by strong double-digit growth in all three 2% vs 2022. reg
Slide 10: Stone Island Q2 Highlights
H1 2023 Financial Results 10 STONE ISLAND | Q2 Highlights Prototype Research Stone Island’s constant commitment to research and experimentation was showcased during Milan Series 07 Design Week with the installation of the Prototype Research Series 07, unveiling a special thermochromic technology wit
Slide 11: Stone Island Revenues by Geography
H1 2023 Financial Results 11 STONE ISLAND | Revenues by Geography Stone Island H1 2023 brand revenues reached EUR ASIA (which includes APAC, Japan and Korea) grew 13% EMEA grew 8% in Q2 vs 2022, driven by a positive 201.6m, +5% vs 2022. YoY in Q2, due to solid performance in the Chinese contribution
Slide 12: Stone Island Revenues by Channel
H1 2023 Financial Results 12 STONE ISLAND | Revenues by Channel Stone Island recorded WHOLESALE revenues of EUR The revenues in the DTC channel reached EUR 73.7m in 127.8m in H1 2023, -4% YoY. H1 2023, +23% YoY. In the second quarter, revenues in this channel grew 2% vs In Q2 revenues in this channe
Slide 13: Group Mono-Brand Store Network
H1 2023 Financial Results 13 Group Mono-Brand Store Network Group retail network as of 30 June 2023: Changes occurred in Q2: • 257 Moncler DOS • Moncler: two net openings, including one conversion in Americas (Nordstrom) and one opening in Asia (Daejeon Galleria Timeworld) • 74 Stone Island DOS • St
Slide 14: Moncler Zurich Bahnhofstrasse
H1 2023 Financial Results 14 Moncler Zurich Bahnhofstrasse
Slide 15: Moncler Shanghai Plaza 66
H1 2023 Financial Results 15 Moncler Shanghai Plaza 66
Slide 16: Group Income Statement
H1 2023 Financial Results 16 Group Income Statement H1 2023 gross margin increase YoY primarily driven by Higher YoY marketing spending in H1 2023 entirely due The tax rate in H1 2023 was equal to 29.6%. In the first the positive channel mix, with a higher incidence of the to a different phasing of
Slide 17: Net Capex
H1 2023 Financial Results 17 17 Net Capex Consolidated capex reached EUR 69.5m in H1 2023, with More than half of the distribution-related capex was Stone Island capex of EUR 9.4m in H1 2023, compared an incidence on revenues of 6.1% compared with EUR dedicated to relocation and expansion projects.
Slide 18: Net Working Capital
H1 2023 Financial Results 18 18 Net Working Capital Net consolidated working capital was EUR 242.2m The incidence on LTM revenues was equal to 8.6% The increase in net working capital YoY was mainly driven compared with EUR 187.2m as of 30 June 2022. compared with 8.0% as of 30 June 2022, reflecting
Slide 19: Net Financial Position
H1 2023 Financial Results 19 17 21 19 Net Financial Position 1 As of 30 June 2023, the Group net financial position was Net cash flow in the first half of 2023 was negative for As of 30 June 2023, the Group accounted EUR 837.7m of positive and equal to EUR 470.7m. EUR 347.5m after EUR 300.3m in divi
Slide 20: Balance Sheet Statement
H1 2023 Financial Results 22 18 20 Balance Sheet Statement 30/06/2023 31/12/2022 30/06/2022 EUR m EUR m EUR m Brands 999.4 999.4 999.4 Goodwill 603.4 603.4 603.4 Fixed assets 398.1 388.3 318.1 Right-of-use assets 771.0 773.5 681.8 Net working capital 242.2 191.7 187.2 Other assets/(liabilities) 134.
Slide 21: Cash Flow Statement
H1 2023 Financial Results 21 23 21 Cash Flow Statement 1 H1 2023 H1 2022 FY 2022 EUR m EUR m EUR m EBIT 217.8 180.2 774.5 D&A 54.6 51.0 105.6 Other non cash adjustments 9.0 4.7 14.6 Change in net working capital (50.5) (38.3) (42.8) Change in other assets/(liabilities) (135.7) (342.6) (212.3) Capex,
Slide 22: Appendix
Moncler Group H1 2023 Financial Results 22 22 Appendix
Slide 23: EBITDA Reconciliation
H1 2023 Financial Results 23 25 23 EBITDA Reconciliation H1 2023 H1 2022 FY 2022 EUR m % EUR m % EUR m % EBIT 217.8 19.2% 180.2 19.6% 774.5 29.8% D&A 54.6 4.8% 51.0 5.6% 105.6 4.1% Rights-of-use-amortisation 88.0 7.7% 74.4 8.1% 159.3 6.1% Stock-based compensation 19.7 1.7% 16.0 1.7% 37.0 1.4% EBITDA
Slide 24: 2021-2023 Half-Year Income Statement
H1 2023 Financial Results 24 2021-2023 Half-Year Income Statement 1 H1 2023 H1 2022 H2 2022 H1 2021 H2 2021 FY 2022 FY 2021 EUR m % EUR m % EUR m % EUR m % EUR m % EUR m % EUR m % REVENUES 1,136.6 100.0% 918.4 100.0% 1,684.5 100.0% 621.8 100.0% 1,424.3 100.0% 2,602.9 100.0% 2,046.1 100.0% YoY perfor
Slide 25: 2023 Revenues Quarterly Performance
H1 2023 Financial Results 25 27 25 2023 Revenues Quarterly Performance Group Q1 23 vs 22 Q2 23 vs 22 H1 23 vs 22 EUR m 2023 2022 cFX 2023 2022 cFX 2023 2022 cFX Moncler 604.8 473.4 +28% 330.2 250.9 +32% 935.0 724.3 +29% Stone Island 121.6 116.5 +5% 80.0 77.6 +5% 201.6 194.1 +5% Group total 726.4 589
Slide 26: Financial Calendar, Shareholding, IR contacts
H1 2023 Financial Results 28 26 Financial Calendar, Shareholding, IR contacts UPCOMING EVENTS 26 October 2023 9M 2023 Interim Management Statement SHAREHOLDING STRUCTURE1 % N. SHARES (M) IR CONTACTS Double R S.r.l. 23.7% 65.1 ELENA MARIANI Moncler Group Strategic Planning and Investor Relations Dire
Slide 27: Disclaimer
H1 2023 Financial Results 27 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