Moncler - Annual Report 2024

Moncler Group | Annual Report 2024 Consolidated Financial Statements 364 Moncler Group | Annual Report 2024 Consolidated Financial Statements 365

4. Comments on the consolidated income statement

In 2024, Moncler Group reached consolidated

revenue of EUR 3,108.9 million up 4.2% compared

to the 2023. These results include Moncler brand

revenue equal to EUR 2,707.3 million and Stone Island

brand revenue equal to EUR 401.6 million.

Analysis of Moncler brand revenues

In 2024, Moncler brand revenues were equal

to EUR 2,707.3 million, up 5.2% growth compared to 2023.

Revenues by geography

Sales are broken down by geographical area as reported

in the following table:

4.1 Revenues

Revenues by brand

2024, revenues in Asia (which includes APAC, Japan and Korea)

were EUR 1,379.0 million, up 6.8% compared with 2024,

thanks to a solid double-digit growth in the Chinese mainland,

despite a high comparable base and still challenging

macroeconomic conditions af fecting consumer conf idence. Japan,

Korea, and the rest of APAC also delivered a solid performance.

EMEA recorded revenues of EUR 9493 million 43

compared with 2023 Thanks to the acceleration of the DTC

channel which registered a positive contribution from both

tourists and locals despite remaining penalised by more dif f icult

trends in the direct online channel

Revenues in the Americas increased by 21 compared

with 2023 to EUR 3790 million Thanks to the performance

of the DTC channel

EUR/000 2024%2023%

TOTAL REVENUES 3,108,924 100.0% 2,984,217 100.0%

Moncler 2,707,315 87.1% 2,573,159 86.2%

Stone Island 401,609 12.9% 411,058 13.8%

REVENUES BY REGION

EUR/000 2024%2023%Variation% Variation

Asia 1,378,955 50.9% 1,291,377 50.2% 87,578 6.8%

EMEA 949,328 35.1% 910,488 35.4% 38,840 4.3%

Americas 379,032 14.0% 371,294 14.4% 7,738 2.1%

TOTAL 2,707,315 100.0% 2,573,159 100.0% 134,156 5.2%

Revenues by channel

Revenues by distribution channels are broken down as follows:

Revenues are made through two main distribution channels,

DTC and wholesale. The DTC channel includes stores that

are directly managed by the Brand (free-standing stores,

concessions, e-commerce and factory outlet), while the wholesale

channel includes stores managed by third parties that sell

Moncler products either in single-brand spaces (i.e. shop-in-shop)

or inside multi-brand stores (both physical and online).

In 2024, the DTC channel recorded revenues of EUR 2,331.9

million, up 7.8% compared with 2023. Driven by sequential

improvements across all regions.

The wholesale channel recorded revenues of EUR 375.4

million, a decline of 8.3% compared with 2023. This decrease

is impacted by still challenging market trends and by ongoing

ef forts to upgrade the quality of the distribution network.

Analysis of Stone Island brand revenue

In 2024, Stone Island brand revenues reached EUR 401.6 million,

a decrease of 2.3% compared with EUR 411.1 million recorded

in 2023.

Revenues by geography

Asia which includes APAC Japan and Korea reached EUR 1052

million revenues in 2024 growing 176 compared with 2023

mainly driven by the ongoing strong performance of Japan

and the improving trends in the Chinese market Korea continued

to show softer trends compared with the rest of the region

In 2024 EMEA continues to be the most important region

for the brand and contributed EUR 2689 million to 670

of revenues in 2024

Americas registered revenues of EUR 275 million with

a decline of 194 compared to 2023

EUR/000 2024%2023%

TOTAL REVENUES OF WHICH:2,707,315 100.0% 2,573,159 100.0%

Wholesale 375,419 13.9% 409,239 15.9%

DTC 2,331,896 86.1% 2,163,920 84.1%

REVENUES BY REGION

EUR/000 2024%2023%Variation% Variation

Asia 105,201 26.2% 89,441 21.8% 15,760 17.6%

EMEA 268,910 67.0% 287,506 69.9% (18,596)(6.5)%

Americas 27,498 6.8% 34,111 8.3% (6,613)(19.4)%

TOTAL 401,609 100.0% 411,058 100.0% (9,449)(2.3)%