Moncler Spa · MIL:MONC
Moncler Spa — H1 2021 Earnings Presentation
25 slides from Moncler Spa's earnings presentation, 2021
Slide 1: H1 2021 Financial Results
H1 2021 FINANCIAL RESULTS
Slide 2: H1 2021 Key Facts
MONCLER GROUP H1 2021 Financial Results 2 H1 2021 Key Facts Stone Island Results consolidated since 1 April Integration process ongoing Moncler e-commerce EMEA internalised in May * All key metrics improving by double-digits post internalisation Moncler Genius 1952 - January JW Anderson - March Crai
Slide 3: H1 2021 Results Key Highlights
MONCLER GROUP H1 2021 Financial Results 3 H1 2021 Results Key Highlights: REVENUES — GROUP REVENUES — MONCLER REVENUES — STONE ISLAND EUR 621.8m +57% cFX vs 2020; EUR 565.5m +43% cFX vs 2020; EUR 56.2m, consolidated from 1 April +11% cFX (+34% in Q2) vs 2019 +1% cFX (+5% in Q2) vs 2019 EBIT NET PROF
Slide 4: Moncler - Revenue by Geography
MONCLER GROUP H1 2021 Financial Results 4 Moncler - Revenue by Geography en H1 2021 REVENUES reached EUR 565.5m, +43%() vs 2020 and +1% vs 2019. ASIA (which includes APAC, Japan and Korea) | EMEA revenues have been penalised by the lack of travellers, has been the best performing area (+9% vs Q2__ p
Slide 5: Moncler - Revenue by Channel
MONCLER GROUP H1 2021 Financial Results 5 Moncler - Revenue by Channel Lip, DTC” revenues reached EUR 418.4m in H1 2021, CSSG rose by 41% in H1 2021. WHOLESALE revenues rose to EUR 147.1m in H1 2021, +42% 2020 +44%'"") vs 2020 and -2% vs 2019. Online continued to strongly outperform. and +10% vs 201
Slide 6: Stone Island - Revenue Results
MONCLER GROUP H1 2021 Financial Results 6 Stone Island - Revenue Results a Stone Island revenues rose to EUR 56.2m in Q2 2021 Stone Island wholesale business contributed SS 2022 sales campaign showed strong results. (Eur 88.1m in Q1 2021 not consolidated). 72% of total revenues. EMEA contributed 77%
Slide 7: Stone Island - Key Facts
MONCLER GROUP H1 2021 Financial Results 7 Stone Island — Key Facts < 2021 Focus Set the basis for delivering compelling long-term results Integration Ongoing integration of all corporate functions Focus on IT and Logistics Distribution Planned to directly manage all markets over time
Slide 8: Group Mono-Brand Store Network
MONCLER GROUP H1 2021 Financial Results 8 Group Mono-Brand Store Network Group retail network counted 254 DOS as of June: Changes occurred in Q2: * 224 Moncler * Moncler: +3 DOS, including Dalian Olympia 66 Stores temporarily closed * c. 10% of Moncler store * 30 Stone Island * Stone Island: +4 DOS,
Slide 9: H1 2021 Financial Results
MONCLER GROUP HI 2021 Financial Results 9 Dalian Olympia 66 SSS
Slide 10: London Brewer Street, the new store
Slide 11: Income Statement Reported vs Adjusted
MONCLER GROUP H1 2021 Financial Results a) Income Statement Reported vs Adjusted The adjustments column includes the Purchase Price The adjustments reflects Allocation (PPA) impacts on Moncler Group Income —* Selling: Order’s backlog amortisation Statement and other costs related to the Stone * G8A:
Slide 12: Group Income Statement
MONCLER GROUP H1 2021 Financial Results Group Income Statement q 8 EBIT includes: * Stock-based compensation of EUR 14.9m (EUR 11.7m in HI 2020, and EUR 31.0m in FY 2020) + Positive IFRS 16 impact of EUR 7.8m (EUR 8.5m in H1 2020, Eur 8.0m in H1 2019 and EUR18.6m in FY 2020) Net financial result inc
Slide 13: Net Capex
MONCLER GROUP H1 2021 Financial Results 13 Net Capex Consolidated capex of EUR 49.8m in HI 2021, with —_ Investments in distribution, which includes the Infrastructure capex largely due to investments an incidence on revenues of 8.0% compared to cost for store openings, relocations and in production
Slide 14: Net Working Capital
MONCLER GROUP H1 2021 Financial Results Net Working Capital 4 Net working capital reached EUR 180.0m as of 30 The increased NWC incidence vs H1 2020 is June 2021, equal to 9.6% of LTM revenues. exclusively due to the consolidation of Stone Island. Accounts receivables increased vs H1 2020 reflecting
Slide 15: Net Financial Position
MONCLER GROUP H1 2021 Financial Results 15 Net Financial Position” At 30 June 2021, Group’s net financial position was In the first half of 2021 Moncler Group At 30 June 2021, lease liabilities were equal to EUR 734.9m, positive and equal to EUR 233.9m, after a net generated EUR 51.0m of free cash f
Slide 16: Balance Sheet Statement
MONCLER GROUP H1 2021 Financial Results 16 Balance Sheet Statement Intangible assets include: Other non-current assets/(liabilities) include: * EUR775.5m for Stone Island brand * EUR 222.0m for deferred tax assets related * EUR 447.3m for Stone Island goodwill to the Stone Island transaction 30/06/2
Slide 17: Cash Flow Statement
MONCLER GROUP H1 2021 Financial Results Cash Flow Statement H12021 H12020 FY 2020 EURm EURm EUR m EBIT 92.8 (35.5) 368.8 D&A 42.0 39.2 80.2 Other non cash adjustments 7 3.2 12.4 Change in net working capital 61.2 29.0 (36.8) Change in other assets/(liabilities) (77.2) (87.2) (91.9) Capex, net (49.8)
Slide 18: Sustainability - Moncler Born to Protect
MONCLER GROUP H1 2021 Financial Results 18 Sustainability - Moncler Born to Protect’ aE sire Stone Island Integration Assessment and reporting set-up completed Act on Climate Change On track for carbon neutrality in 2021 (own operations) On track for energy from renewable sources up to 70% in 2021 T
Slide 19: Appendix
MONCLER GROUP H1 2021 Financial Results Appendix
Slide 20: PPA allocation
MONCLER GROUP H1 2021 Financial Results PPA allocation The impacts generated from the Stone Island backlog generated, in the first half, amortisation acquisition are listed in the table below. In particular, of EUR 6.4 million, included in the selling the values allocated to the Brand and Goodwill d
Slide 21: EBITDA reconciliation
MONCLER GROUP H1 2021 Financial Results EBITDA reconciliation 21 H1 2021 adj H1 2020 H1 2019 FY 2020 FY 2019 EURm h EURm h EURm h EUR m h EURm w D&A 48.4 7.8% 39.2 9.7% 32.7 5.7% 80.2 5.6% 70.0 4.3% Rights-of-use-amortisation 63.9 10.3% 61.3 15.2% 47.4 8.3% 120.8 8.4% 101.1 6.2% Stock-based compensa
Slide 22: 2020-2019 Half-Year Income Statement
MONCLER GROUP H1 2021 Financial Results 22 2020-2019 Half-Year Income Statement H12020 H2 2020 H1 2019 H2 2019 FY 2020 FY 2019 EURm % EURm % EURm % EURm % EURm % EURm % YoY performance -29% -2% +16% +18% -12% +15% 279.6 69.3% 810.1 78.1% 828.1 78.3% 1,089.6 75.6% 1,265.3 77.7% Selling (190.9) (47.3%
Slide 23: Revenue quarterly performance
MONCLER GROUP H1 2021 Financial Results Revenue quarterly performance Group Ql 21vs20 | 21vs19 | Q2 21vs20 | 21vs19 | HI 21vs20 | 21vs19 EURm 2021 2020 2019 cFX cFX 2021 2020 2019 cFX cFX 2021 2020 2019 FX cFX Moncler 365.5 310.1 378.5 +21% -2h 200.1 93.2 191.7 +118% +5% 565.5 403.3 570.2 +43% +1% S
Slide 24: Shareholding, Events, IR contacts
MONCLER GROUP H1 2021 Financial Results 24 Shareholding, Events, IR contacts UPCOMING EVENTS 28 October 2021 9M 2021 Interim Management Statement SHAREHOLDING Ren Double R S.r.1. 19.9% 54.4 PAOLA DURANTE Morgan Stanley Investment Management Company 1.5% 31.3 Strategic Planning, Intelligence and Inve
Slide 25: Disclaimer
MONCLER GROUP H1 2021 Financial Results 24 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