31 MONCLER GROUP30 MONCLER GROUP MONCLER GROUP 2022
Revenues over 2.6 billion euros in 2022 (+25% compared to 2021). EBIT at 774 million euros (29.8% margin) and net cash at 818 mil- lion euros.
RESULTS In 2022, Moncler Group reached consolidated revenue of EUR 2,602.9 million up 25% at constant FX ( cFX ) compared to 2021. These results include Moncler brand revenue equal to EUR 2,201.8 million and Stone Island brand revenue equal to EUR 401.1 million.
ANALYSIS OF MONCLER AND STONE ISLAND BRAND REVENUES
MONCLER BRAND In 2022, Moncler brand revenues were equal to EUR 2,201.8 million, up 19% cFX compared to 2021. In 2022, the Direct-To-Consumer (DTC) channel achieved revenues of EUR 1,772.0 million, +22% cFX compared to 2021, despite the Covid restrictions implemented in Mainland China.
The wholesale channel revenues were EUR 429.8 million with 6% cFX growth compared to 2021 and +14% cFX versus 2019. In the fourth quarter rev- enues generated by this channel were in line with 2021 (+1% cFX).
STONE ISLAND BRAND In 2022, Stone Island brand revenues were equal to EUR 401.1 million up 28% cFX compared with EUR 310.0 million recorded in the 12-month pro-forma of 2021 (of which EUR 88.1 million generated in the first quarter 2021 and not con- solidated in the Group s results), and +63% cFX compared 2019.
The wholesale channel, which continues to represent the majority of the brand revenues (63% of total), with EUR 252.0 million sales in 2022, grew by 7% cFX compared with 2021 pro-forma, driven by a good success of the collec- tions across all markets, and despite the conversions into retail occurred during the year.
The DTC channel (representing 37% of the total revenues) reported sales of EUR 149.2 million, +93% cFX compared with 2021 pro-forma, driven by the already-mentioned conversion of Korea and Japan and the solid double-dig- it performance in EMEA and Americas. The direct online channel registered a strong double-digit growth.
EBIT was equal to EUR 774.5 million, 29.8% margin, compared to EUR 603.14 million in 2021 (29.5% margin in 2021).
Group net result was then equal to EUR 606.7 million com- pared with EUR 411.4 million in 2021.
FINANCIAL PERFORMANCE In 2022, Stone Island brand revenues were equal to EUR 401.1 mil- lion up 28% cFX compared with EUR 310.0 million recorded in the 12-month proforma of 2021 (of which EUR 88.1 million generated in the first quarter 2021 and not consolidated in the Group s results), and +63% cFX compared to 2019.
STONE ISLAND BRAND - REVENUES BY GEOGRAPHY
MILLION EUROS Revenues3 % Change vs 2021 Change vs 2021 Change vs 2019 (at current (at constant (at constant exchange rates) exchange rates) exchange rates) Asia 278.7 69.5 +16% +16% +42% EMEA 80.2 20.2 +101% +101% +210% Americas 42.3 10.5 +46% +34% +69% Total 401.1 100.0 +29% +28% +63%
4 Net of Purchase Price Allocation (PPA) and other transaction costs relat- ed to the Stone Island deal in first half of 2021.