Moncler Spa · MIL:MONC
Moncler Spa — H1 2015 Earnings Presentation
22 slides from Moncler Spa's earnings presentation, Oct 1, 2015
Slide 1: H1 2015 Financial Results
\ Kp MONCLER H1 2015 Financial Results
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
Slide 3: Quality, passion and innovation; international expansion; sustainable growth
TR >: DEVELOPME A Ss NT-OF ~~ INTERNATIONAL EMONOE RARE GEOR ESR FS UAPANDION ) ‘ ae Met | ) QUALITY, PASSION SUSTAINABLE AND INNOVATION GROWTH
Slide 4: Slide 4
Slide 5: Slide 5
Slide 6: SA Weg
7 SA Weg SNe age } — wales pe Asc. ~~ CE, ai _ a 5 as a
Slide 7: H1 2015 Results Key Highlights
H1 2015 Results Key Highlights (*) •1 Consolidated Revenues: Eur 295.8m, +35% YoY growth reported (+26% at constant exchange rates) •2 International markets: Eur 244.3m, 83% of total revenues (78% in H1 2014) •3 Retail Revenues: Eur 201.4m, 68% of total revenues (56% in H1 2014) •4 Comparable Store
Slide 8: Revenues by Region
Revenues by Region REVENUES ANALYSIS (€m) YoY Growth YoY Growth 1• Strong sales performance Reported Const. Curr. continued (+26% at constant 295.8 +35% +26% exchange rates) 42.7 +98% +69% 2• Double-digit growth in all 218.3 International markets, which 21.6 102.7 +54% +36% now account for 83% of to
Slide 9: Revenues by Distribution Channel
Revenues by Distribution Channel REVENUES ANALYSIS (€m) YoY Growth YoY Growth 1• Revenues growth driven by Reported Const. Curr. the retail channel which now 295.8 +35% +26% accounts for 68% of consolidated revenues (vs. 218.3 56% in H1 2014) 201.4 +65% +51% 2• Sales of comparable DOS 121.9 (Comp-St
Slide 10: Monobrand Stores Network
Monobrand Stores Network 1• At the end of June, the retail network reached 153 monobrand stores • 19 new retail openings in 2 H1 2015, including: - 7 retail stores opened of which 2 were in Q2 - 12 Korean monobrand 31/12/2014 30/06/2015 stores converted from Retail 134 153 wholesale to retail Italy
Slide 11: Bruxelles
BRUXELLES 8 Pk i |
Slide 12: Macau
Ns MONCLER
Slide 13: Consolidated Income Statement
Consolidated Income Statement H1 2015 H1 2014 FY 2014 Eur m % Eur m % Eur m % Revenues 295.8 100.0% 218.3 100.0% 694.2 100.0% YoY growth +35% +19% +20% Cost of sales (80.8) (27.3%) (63.3) (29.0%) (192.5) (27.7%) Gross margin 215.0 72.7% 155.0 71.0% 501.7 72.3% Selling expenses (102.5) (34.6%) (71.5)
Slide 14: Consolidated Capex
Consolidated Capex (*) NET CAPEX ANALYSIS (€m) (%) on 7% 11% 7% revenues 21.6 24.4 49.5 1• Capex mainly related to retail expansion 2• H1 2015 capex below H1 7.2 2014 due to timing effect 5.8 3• Corporate investments related to IT projects and headquarter’s 2.5 refurbishment 5.3 4.2 36.5 1.4 17.7 14
Slide 15: Consolidated Net Working Capital
Consolidated Net Working Capital NET WORKING CAPITAL ANALYSIS (€m) (%) on LTM 12% 14% 6% revenues 91.8 97.1 36.3 1 • Net Working Capital at Eur 91.8m, equal to 12% 59.4 of Last-Twelve-Months 86.6 sales (11% at constant 36.9 exchange rates) 175.2 2 143.2 • Inventory driven by 122.8 retail expansion,
Slide 16: Consolidated Net Financial Position
Consolidated Net Financial Position NET DEBT ANALYSIS (€m) 175.3 111.2 206.3 1• At 30 June 2015 Net Debt was Eur 175.3m, compared to Eur 111.2m 158.8 at end December 2014 150.9 and below Eur 206.3m at 154.3 end June 2014 134.5 2• Tax payment of Eur 47m 126.5 80.3 anticipated in June 2015 (87.0) (102
Slide 17: Consolidated Balance Sheet Statement
Consolidated Balance Sheet Statement 30/06/2015 31/12/2014 30/06/2014 Eur m Eur m Eur m Intangible Assets 414.0 414.4 414.1 Tangible Assets 86.3 77.3 65.9 Other Non-current Assets/(Liabilities) 7.7 (14.7) (23.9) Total Non-current Assets 508.0 477.0 456.1 Net Working Capital 91.8 97.1 36.3 Other Curr
Slide 18: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement H1 2015 H1 2014 FY 2014 Eur m Eur m Eur m EBITDA Adjusted 70.9 46.4 232.9 Change in Net Working Capital 5.3 10.6 (50.2) Change in other curr./non-curr. assets/(liabilities) (55.9) (26.1) 25.1 Capex, net (21.6) (24.4) (49.5) Operating Cash Flow (1.3) 6.5 158.3 Net fin
Slide 19: Appendix
| | WP es = MONCLER APPENDIX
Slide 20: Quarterly Revenues Breakdown by Region and Channel
2015 Quarterly Revenues Breakdown by Region and Channel Q1 2015 Q1 2014 YoY Growth % Q2 2015 Q2 2014 YoY Growth % H1 2015 H1 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% 51.5 17% 47.5 22% +8% +8% EMEA (ex
Slide 21: Quarterly Consolidated Income Statement
2015 Quarterly Consolidated Income Statement Q1 2015 Q1 2014 Q2 2015 Q2 2014 H1 2015 H1 2014 €m % €m % €m % €m % €m % €m % Revenues 201.0 100.0% 145.4 100.0% 94.8 100.0% 72.9 100.0% 295.8 100.0% 218.3 100.0% YoY growth +38% +16% +30% +27% +35% +19% Cost of sales (52.7) (26.2%) (40.2) (27.7%) (28.1)
Slide 22: Shareholding Structure, Upcoming events, IR Contacts
Shareholding Structure, Upcoming events, IR Contacts SHAREHOLDING 2015 Upcoming Events • 9 November – Board of Directors: Approval of First Nine Months Financial Results as of 30 September 2015 • 1 December – Investor Day Investor Relations Team [email protected] • Paola Durante Investo