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Moncler Group | Annual Report 2024 Consolidated Financial Statements 346  | 

1.1 The Group and its core business

The parent company Moncler S.p.A. is a company established

and domiciled in Italy, with its registered of f ice located

at Via Stendhal 47 Milan, Italy, and registration number

of 04642290961.

Moreover, the parent company Moncler S.p.A. is de-facto

controlled by Remo Ruf f ini through Ruf f ini Partecipazioni

Holding S.r.l. (RPH) and Double R S.r.l. (DR): more specif ically,

Remo Ruf f ini owns the entire share capital of RPH, a company

controlling DR which, in turn, as of 31 December 2024

holds a shareholding representing 16.5% of the share capital

of Moncler S.p.A.

The Consolidated Financial Statements as at and for

the yea

r ended 31 December 2024 include the Parent Company

and its subsidiaries (hereafter referred to as the “Group").

To date, the Group's core businesses are the creation,

production and distribution of clothing for men, women

and children, shoes, eyewear and other accessories under

the Moncler and Stone Island brand name.

1.2 Basis for the preparation

of the Consolidated Financial Statements

1.2.1 Relevant accounting principles

The 2024 Consolidated Financial Statements have been prepared

in accordance with International Financial Reporting Standards

(“IFRS") issued by the International Accounting Standards

Board (“IASB") and endorsed by the European Union. IFRS also

includes all International Accounting Standards (“IAS")

and interpretations of the International Financial Reporting

Interpretations Committee (“IFRIC"), previously

known as the Standing Interpretations Committee (“SIC").

The Consolidated Financial Statements include the

consolidated income statement, the consolidated statement

of comprehensive income, the consolidated statement of f inancial

position, the consolidated statement of changes in equity,

the consolidated statement of cash f lows and the explanatory

notes to the Consolidated Financial Statements

122 Presentation of the f inancial statements

The Group presents its consolidated income statement

by destination the method that is considered most representative

for the business at hand This method is in fact consistent

with the internal reporting and management of the business

With reference to the consolidated statement of f inancial

position a basis of presentation has been chosen which

makes a distinction between current and noncurrent assets

and liabilities in accordance with the provisions of paragraph

60 and thereafter of IAS 1

The consolidated statement of cash f lows is prepared under

the indirect method.

In accordance with the provisions of IAS 24, related-party

transactions with the Group and their impact, if signif icant,

on the consolidated statement of f inancial position, consolidated

income statement and consolidated statement of cash f lows

are reported below.

The Consolidated Financial Statements are presented

in thousands of Euros while, unless otherwise indicated,

the data contained in the explanatory notes are presented

in millions of Euros.

1.2.3 Basis for measurement

The Consolidated Financial Statements have been prepared

on

the historical cost basis, except for the measurement of certain

f inancial instruments (i.e. derivatives) as required by IFRS 9,

and on a going concern basis.

The Consolidated Financial Statements are presented

in thousand euros, which is the functional currency of the markets

where the Group mainly operates.

1.2.4 Directors’ assessment

on the assumption of business continuity

Based on the results of the current year and forecasts for future

years, the management believes that there are no factors

rendering business continuity uncertain. In particular, the Group's

f inancial strength and its cash and cash equivalents at the

end of the year guarantee a high level of f inancial independence

to support Moncler's operational needs and development

programmes. For 2025, business operations are fully guaranteed,

both in terms of product of ferings across the various markets

and distribution channels and in the ability to manage

and organise business activities.

1.2.5 Use of estimates and valuations

The preparation of the Consolidated Financial Statements

and the related explanatory notes in conformity with IFRS

requires that management makes estimates and assumptions

that af fect the reported amounts of assets and liabilities

and disclosure of contingent assets and liabilities

at the reporting date The estimates and related assumptions

are based on historical experience and other relevant factors

The actual results could dif fer from those estimates

The estimates and underlying assumptions are reviewed

periodically

and any variation is ref lected in the consolidated

income

statement in the period in which the estimate is revised

if the revision af fects only that period or even in subsequent

periods

if the revision af fects both current and future periods

In the event that managements estimate and judgment

have a signif icant impact on the amounts recognised

1. General information about the Group

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