Moncler Spa · MIL:MONC
Moncler Spa — FY2021 Earnings Presentation
32 slides from Moncler Spa's earnings presentation, Feb 24, 2022
Slide 1: FY 2021 Financial Results and Business Update
FY 2021 FINANCIAL RESULTS AND BUSINESS UPDATE 24 FEBRUARY 2022
Slide 2: Remo Ruffini quote
MONCLER GROUP FY 2021 Financial Results “We want to shape the future of our Group knowing that communities, sustamnability and digital are the core of our actions.” Remo Ruffini
Slide 3: Sustainability Update
Sustainability Update | ll | oRN TO PROTEC, Sustainability . Included in the DOW JONES SUSTAINABILITY Indices World and Indexes and Ratings Europe with the Textiles, Apparel & Luxury Goods industry's highest score. . MSCI ESG RESEARCH: score A. . CDP: score A-. Dow Jones Sustainability Indices MSCI
Slide 4: Brand activations and partnerships
. Announcement and launch of Inter Milan Partnership. . Grenoble High Performance launch – «Beyond Performance». . We Love Winter AW’22 Global Campaign featuring Robin Wright, Dylan Penn among others, plus Holidays extensions. . Moncler.com special program curated by Alicia Keys. . China Activation
Slide 5: Collaborations and launches: Fortnite, Palm Angels, House of Genius
. Launch 6 Moncler 1017 ALYX 9SM in partnership with FORTNITE SKINS & Musician Teezo Touchdown. . Launch 8 Moncler Palm Angels at Miami Art Basel + Global markets. . Introduction of HOUSE OF GENIUS curated by David Fischer, Highsnobiety founder and CEO, inclusive of exclusive products and Pop Up Spa
Slide 6: MONCLER GROUP
MONCLER GROUP FY 2021 Financial Results
Slide 7: FY 2021 Group Revenue Results
MONCLER GROUP FY 2021 Financial Results 7 FY 2021 Group Revenue Results Group’s revenues exceeded EUR 2bn for the first time in history. Results in Q4 further accelerated well above pre-pandemic levels, with Moncler brand at +30% vs 2019*. GROUP MONCLER STONE ISLAND FY 2021 revenues EUR 2,046m +44%
Slide 8: Moncler - Revenue by Geography
MONCLER GROUP FY 2021 Financial Results 8 Moncler - Revenue by Geography All comments refer to constant exchange rates ASIA (which includes APAC, Japan and Korea)— EMEA revenues — 34% of FY revenues — posted a significant performances vs 2019 if not otherwise stated. 49% of FY revenues — accelerated
Slide 9: Moncler - Revenue by Channel
MONCLER GROUP FY 2021 Financial Results 9 Moncler - Revenue by Channel {it Moncler brand DTC revenues — 78% of total — CSSG was +23% in FY 2021 vs 2020 and +1% vs | WHOLESALE revenues — 22% of total — reached EUR 395m in FY21 reached EUR 1,429m in FY21, +33% vs FY20 and 2019. +15% vs FY20 and +8% vs
Slide 10: Total online reached 15% incidence on revenues
TOTAL ONLINE REACHED 15% INCIDENCE ON REVENUES**
Slide 11: Stone Island - FY 2021 Revenue Results
MONCLER GROUP Stone Island FY 2021 Financial Results - Revenue Results a Stone Island — consolidated from 1 April 2021 — contributed EUR 222m to the FY 2021 Group's results. In Q4 the brand recorded revenues of EUR 66m. Including the unconsolidated first three months of the year Stone Island revenue
Slide 12: Group Mono-Brand Store Network
MONCLER GROUP FY 2021 Financial Results 12 Group Mono-Brand Store Network Group retail network counted 267 DOS as of 31 Changes occurred in Q4: Stone Island Korea: since 1 January 2022 December 2021: * Moncler: 4 new openings and some important relocations, including the 23 monobrand stores have bee
Slide 13: Lip
Lip Onarwy
Slide 14: Chicago Relocation
MONCLER GROUP — MONCLER FY 2021 Financial Results Chicago Relocation
Slide 15: Income Statement Reported vs Adjusted
MONCLER GROUP FY 2021 Financial Results 1 a Income Statement Reported vs Adjusted The adjustments include the Purchase Price Allocation (PPA) impacts on Moncler Group Income Statement and other costs related to the Stone Island transaction. In particular, the adjustments reflects: * Selling: Order's
Slide 16: Group Income Statement
MONCLER GROUP FY 2021 Financial Results Group Income Statement 16 EBIT includes: * Stock-based compensation of EUR 28.6m (EUR 31.0 in FY 2020, and EUR 29.4m in FY 2019) + Positive IFRS 16 impact of EUR 16.8m (Eur 18.6m in FY 2020 and EUR 16.4m in FY 2019) Net financial result includes inter (EUR 22.
Slide 17: Net Capex
MONCLER GROUP Net Capex FY 2021 Financial Results 7 Investments in distribution, which includes the cost for store openings, relocations and expansions, reached EUR 76.0m. FY 2021 Consolidated capex rose to EUR 124.7m, with an incidence on revenues of 6.1% compared to EUR 90.4m in FY 2020 (6.3% on r
Slide 18: Net Working Capital
MONCLER GROUP FY 2021 Financial Results Net Working Capital 18 Net working capital control continued in 2021 in Accounts receivables increased reflecting the line with management expectations. growth of the business, and also the impact of As of 31 December, NWC reached EUR 148.8m Stone Island's hig
Slide 19: Net Financial Position
MONCLER GROUP FY 2021 Financial Results 19 Net Financial Position’ At 31 December 2021, Group’s net financial position In 2021 Moncler Group generated EUR 550.3m At 31 December 2021, lease liabilities were equal to EUR 710.1m, was positive and equal to EUR 729.6m, after a net of free cash flow versu
Slide 20: Balance Sheet Statement
MONCLER GROUP FY 2021 Financial Results 20 Balance Sheet Statement Intangible assets include: Other non-current assets/(liabilities) include: * EUR775.5m for Stone Island brand * EUR 216.4m for deferred tax assets related to * EUR 447.3m for Stone Island goodwill the Stone Island transaction 31/12/2
Slide 21: Cash Flow Statement
MONCLER GROUP FY 2021 Financial Results Cash Flow Statement 21 FY 2021 FY 2020 FY 2019 EURm EURm EUR m EBIT 603.1 368.8 491.8 D&A 88.8 80.2 70.0 Other non cash adjustments 1.8 12.4 13.0 Change in net working capital 92.3 (36.8) (25.0) Change in other assets/(liabilities) 51.8 (91.9) 24.9 Capex, net
Slide 22: MONCLER GROUP FY 2021 Financial Results
MONCLER GROUP FY 2021 Financial Results Corporate Update
Slide 23: Focus on strengthened Group's infrastructure
MONCLER GROUP FY 2021 Financial Results 23 Focus on strengthened Group's infrastructure Stone Island Integration . Korean JV operating since 1 January 2022. . IT retail systems and logistics integration on plan in 2022. IT . On 22 December 2021, Moncler detected an unauthorized access to the company
Slide 24: Sustainability 2021
MONCLER GROUP FY 2021 Financial Results 24 Sustainability 2021 FY 2021 NON FINANCIAL REPORT KEY RESULTS* . Carbon Neutrality for Group’s own sites worldwide. . ~30% of Moncler Genius 2021** outerwear products entirely made of sustainable fabrics and marked with the Moncler Born to Protect tag. . Ini
Slide 25: Appendix
MONCLER GROUP FY 2021 Financial Results Appendix
Slide 26: PPA allocation at March 2021
MONCLER GROUP FY 2021 Financial Results 26 PPA allocation at 31 March 2021 The impacts generated from the Stone Island backlog generated in the year an amortisation acquisition are listed in the table below. In particular, of EUR 20.2m, included in the selling expenses. the values allocated to the B
Slide 27: EBITDA reconciliation
MONCLER GROUP FY 2021 Financial Results EBITDA reconciliation 27 FY 2021 adj FY 2020 FY 2019 EUR m wh EURm h EURm % D&A 88.8 4.3% 80.2 5.6% 70.0 4.3% Rights-of-use-amortisation 137.5 6.7% 120.8 8.4% 101.1 6.2% Stock-based compensation 28.6 14% 31.0 2.2% 29.4 1.8% Rents associated to rights-of-use (1
Slide 28: 2021-2019 Half-Year Income Statement
MONCLER GROUP FY 2021 Financial Results 28 2021-2019 Half-Year Income Statement H1 2021 H2 2021 H12020 H2 2020 H12019 H2 2019 EURm % EURm % EURm % EURm % EURm % EURm % YoY performance +54% +37% -29% -2% +16% +18% 467.6 75.2% 1,099.3 77.2% 279.6 69.3% Selling (229.9) (37.0%) (358.4) (25.2%) (190.9) (
Slide 29: Revenue quarterly performance
MONCLER GROUP FY 2021 Financial Results 29 Revenue quarterly performance Group al 21vs20 | 21vs19 | a2 21vs20 | 2Ivs19 | Q3 Q1vs20 | 21vs19 | Q4 21vs20 | 21vs19 EURm 2021 2020 2019 FX cFX 2021 2020 2019 cFX FX 2021 2020 2019 FX cFX 2021 2020 2019 cFX FX Moncler 365.5 310.1 378.5 | +21% -2% 200.1 93.
Slide 30: Revenue YTD quarterly performance
MONCLER GROUP FY 2021 Financial Results 30 Revenue YTD quarterly performance Group al 2ivs20 | 21vsi9 | HI 21vs20 | 21vs19 | 9M 21vs20 | 21vs19 | FY 21vs20 | 21vs19 EURm 2021 2020 2019 | cFx FX 2021 2020 2019 | cFx FX 2021 2020 2019 | cFx FX 2021 2020 2019 | crx FX Moncler 365.5 310.1 378.5 | +21% 2
Slide 31: Shareholding and IR contacts
MONCLER GROUP FY 2021 Financial Results 31 Shareholding and IR contacts SHAREHOLDING STR' % Shares (m) IR contacts Double R S.r.1. 19.9% 54.4 PAOLA DURANTE Rivetti family** 3.9% 10.7 Strategic Planning, Intelligence and Investor Relations Director [email protected] MARKET ALICE POGGIOLI Morg
Slide 32: Disclaimer
MONCLER GROUP FY 2021 Financial Results 32 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 cur