Moncler Spa · MIL:MONC
Moncler Spa — H1 2018 Earnings Presentation
21 slides from Moncler Spa's earnings presentation, July 2018
Slide 1: H1 2018 Financial Results
H1 2018 Financial Results
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Slide 3: Moncler Fragment Hiroshi Fujiwara first Moncler Genius drop
“7 Moncler Fragment Hiroshi Fujiwara has been our first Moncler Genius drop. The supply chain did a fantastic job, our marketing division supported it extraordinarily, along with our CRM, retail and wholesale teams. I am very proud of the energy that this project has generated both inside and outsid
Slide 4: Go beyond limits, expectations and generations
GO BEYOND LIMITS, EXPECTATIONS AND GENERATIONS #MONCLERBEYOND
Slide 5: H1 2018 Results Key Highlights
H1 2018 RESULTS KEY HIGHLIGHTS (*) • Consolidated revenues: Eur 493.5m, +27% at constant exchange rates (+21% reported) • Retail revenues: Eur 376.9m, +33% at constant exchange rates (+26% reported), representing 76% of total revenues • Comparable Store Sales Growth: +27% • Wholesale Revenues: Eur 1
Slide 6: Revenue Breakdown by Region
REVENUE BREAKDOWN BY REGION Moncler continued to deliver robust double- REVENUE ANALYSIS (Eur m) digit growth in Q2 2018 also driven by the successful launch of the first Genius YoY Growth YoY Growth collection (7 Moncler Fragment Hiroshi Reported Const. FX Fujiwara) 493.5 +21% +27% In H1 2018 the G
Slide 7: Revenue Breakdown by Distribution Channel
REVENUE BREAKDOWN BY DISTRIBUTION CHANNEL In Q2 2018 all distribution channels’ REVENUE ANALYSIS (Eur m) performances have been fuelled by the first Moncler Genius drop YoY Growth YoY Growth Reported Const. FX Retail revenues increased by 33%* in H1 2018 493.5 +21% +27% (+29% in Q2), driven by an ou
Slide 8: Monobrand Stores Network
MONOBRAND STORES NETWORK Moncler’s retail network reached 209 monobrand stores at 30 June 2018, with 4 new openings in Q2 More than 15 DOS expected to open, in total, in FY 2018 and some 15 expansions/relocations planned, including important projects like New York Soho and London Sloane Wholesale mo
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Slide 10: Income Statement
INCOME STATEMENT H1 2018 H1 2017 FY 2017 Eur m % Eur m % Eur m % Revenues 493.5 100.0% 407.6 100.0% 1,193.7 100.0% YoY growth +21% +18% +15% Cost of sales (118.6) (24.0%) (99.3) (24.4%) (276.2) (23.1%) Gross margin 374.9 76.0% 308.3 75.6% 917.5 76.9% Selling expenses (178.5) (36.2%) (154.0) (37.8%)
Slide 11: Net Capex
NET CAPEX NET CAPEX ANALYSIS (Eur m) Consolidated capex reached Eur 34.5m (%) on revenues in H1 2018, equal to 7% of revenues 7% 8% 6% Retail investments equalled Eur 18.5m, 34.5 34.4 72.5 compared to Eur 27.5m in H1 2017 Corporate investments were equal to 10.8 Eur 14.1m compared to Eur 5.5m in H1
Slide 12: Net Working Capital
NET WORKING CAPITAL Continued strong control of working NET WORKING CAPITAL ANALYSIS (Eur m) capital (%) on LTM revenues Net working capital reached Eur 61.4m at 5% 8% 6% 30 June 2018, equal to 5% of LTM revenues versus 8% as at 31 December 61.4 89.7 64.4 2017 and 6% as at 30 June 2017 70.6 At 30 Ju
Slide 13: Net Financial Position
NET FINANCIAL POSITION NET FINANCIAL POSITION ANALYSIS (Eur m) At 30 June 2018, net financial position was positive and equal to Eur 243.9m, compared to Eur 304.9m at 31 December 243.9 304.9 130.2 2017 and to Eur 130.2m at 30 June 2017 In H1 2018, Moncler generated Eur 66.3m of free cash flow. In th
Slide 14: Balance Sheet Statement
BALANCE SHEET STATEMENT 30/06/2018 31/12/2017 30/06/2017 Eur m Eur m Eur m Intangible Assets 425.1 426.3 428.2 Tangible Assets 149.2 138.1 124.3 Other Non-current Assets/(Liabilities) 33.1 22.1 24.0 Total Non-current Assets 607.4 586.5 576.5 Net Working Capital 61.4 89.7 64.4 Other Current Assets/(L
Slide 15: Cash Flow Statement
CASH FLOW STATEMENT H1 2018 H1 2017 FY 2017 Eur m Eur m Eur m EBITDA Adjusted 123.9 97.0 411.6 Change in Net Working Capital 28.3 43.7 18.5 Change in other curr./non-curr. assets/(liabilities) (27.4) (45.4) (22.2) Capex, net (34.5) (34.4) (72.5) Operating Cash Flow 90.3 60.9 335.4 Net financial resu
Slide 16: Appendix
Appendix 16
Slide 17: Quarterly Revenue Breakdown by Region and Channel 2018
2018 QUARTERLY REVENUE BREAKDOWN BY REGION AND CHANNEL Q1 YoY growth Q2 YoY growth H1 YoY growth Eur m 2018 2017 Rep. ex FX 2018 2017 Rep. ex FX 2018 2017 Rep. ex FX Italy 43.3 39.2 +10% +10% 20.1 19.0 +5% +5% 63.3 58.2 +9% +9% EMEA (excl. Italy) 96.5 82.9 +16% +18% 50.4 44.5 +13% +15% 147.0 127.4 +
Slide 18: Quarterly Revenue Breakdown by Region and Channel 2017
2017 QUARTERLY REVENUE BREAKDOWN BY REGION AND CHANNEL Q1 YoY growth Q2 YoY growth Q3 YoY growth Q4 YoY growth Eur m 2017 2016 Rep. ex FX 2017 2016 Rep. ex FX 2017 2016 Rep. ex FX 2017 2016 Rep. ex FX Italy 39.2 36.6 +7% +7% 19.0 17.5 +9% +9% 55.7 55.5 +0% +0% 35.5 33.6 +6% +6% EMEA (excl. Italy) 82
Slide 19: Half-Yearly Consolidated Income Statement
2017 HALF-YEARLY CONSOLIDATED INCOME STATEMENT H1 2017 H1 2016 H2 2017 H2 2016 Eur m % Eur m % Eur m % Eur m % Revenues 407.6 100.0% 346.5 100.0% 786.1 100.0% 693.8 100.0% YoY growth +18% +17% +13% +19% Cost of sales (99.3) (24.4%) (89.7) (25.9%) (176.9) (22.5%) (162.6) (23.4%) Gross margin 308.3 75
Slide 20: Shareholding Structure, Upcoming Events, IR Contacts
SHAREHOLDING STRUCTURE, UPCOMING EVENTS, IR CONTACTS SHAREHOLDING 2018 Upcoming Events • 24 October 2018 9M 2018 Interim Management Statement Investor Relations Team [email protected] • Paola Durante 26.2% Ruffini Partecipazioni S.r.l. 4.8% ECIP M S.A. Investor Relations and Strategic P
Slide 21: 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