MONCLER ANNUAL REPORT AT 31 DECEMBER 2020CONSOLIDATED FINANCIAL STATEMENTS 7978

CONSOLIDATED INCOME STATEMENT

(*) Include stock-based compensation. For further details, please refer to the relative notes.

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Consolidated income statement (Euro/000) Notes 2020

of which related parties

(note 10.1) 2019

of which related parties

(note 10.1)

Revenue 4.1 1,440,409 1,198 1,627,704 1,252

Cost of sales 4.2 (350,775) (11,849) (362,424) (17,935)

Gross margin 1,089,634 1,265,280

Selling expenses (*) 4.3 (463,583) (1,857) (488,759) (1,985)

General and administrative expenses (*) 4.4 (173,444) (14,021) (171,570) (18,048)

Marketing expenses 4.5 (83,786) (113,152)

Operating result 4.6 368,821 491,799

Financial income 4.7 759 1,238

Financial expenses 4.7 (24,061) (22,310)

Result before taxes 345,519 470,727

Income taxes 4.8 (45,153) (112,032)

Net Result including Minority 300,366 358,695

Non-controlling interests (15) (10)

Net result, Group share 300,351 358,685

Earnings per share (unit of Euro) 5.16 1.19 1.42

Diluited earnings per share (unit of Euro) 5.16 1.18 1.42

Consolidated statement of comprehensive income (Euro/000) Notes 2020 2019

Net profit (loss) for the period 300,366 358,695

Gains/(Losses) on fair value of hedge derivatives 5.16 2,916 1,651

Gains/(Losses) on exchange differences on translating foreign operations 5.16 (15,313) 3,196

Items that are or may be reclassified to profit or loss (12,397) 4,847

Other Gains/(Losses) 5.16 (143) (121)

Items that will never be reclassified to profit or loss (143) (121)

Other comprehensive income/(loss), net of tax (12,540) 4,726

Total Comprehensive income/(loss) 287,826 363,421

Attributable to: Group Non controlling interests

287,817 9

363,410 11

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Consolidated statement of financial position (Euro/000) Notes

31 December 2020

of which related parties

(note 10.1) 31 December

2019

of which related parties

(note 10.1)

Brands and other intangible assets - net 5.1 282,308 279,390

Goodwill 5.1 155,582 155,582

Property, plant and equipment - net 5.3 802,987 806,540

Other non-current assets 5.9 33,523 30,457

Deferred tax assets 5.4 150,832 129,134

Non-current assets 1,425,232 1,401,103

Inventory 5.5 202,770 208,868

Trade account receivables 5.6 174,144 11,205 167,919 15,607

Tax assets 5.12 5,089 1,582

Other current assets 5.9 21,086 23,758

Financial current assets 5.8 4,793 3,120

Cash and cash equivalent 5.7 923,498 759,073

Current assets 1,331,380 1,164,320

Total assets 2,756,612 2,565,423

Share capital 5.16 51,671 51,596

Share premium reserve 5.16 173,374 172,272

Other reserves 5.16 1,101,652 723,735

Net result, Group share 5.16 300,351 358,685

Equity, Group share 1,627,048 1,306,288

Non controlling interests 89 80

Equity 1,627,137 1,306,368

Long-term borrowings 5.15 562,844 611,997

Provisions non-current 5.13 12,949 10,703

Pension funds and agents leaving indemnities 5.14 7,186 6,436

Deferred tax liabilities 5.4 6,396 68,710

Other non-current liabilities 5.11 142 223

Non-current liabilities 589,517 698,069

Short-term borrowings 5.15 150,423 126,781

Trade account payables 5.10 211,903 15,851 248,621 20,906

Tax liabilities 5.12 93,622 98,450

Other current liabilities 5.11 84,010 589 87,134 3,994

Current liabilities 539,958 560,986

Total liabilities and equity 2,756,612 2,565,423