Moncler Group | Annual Report 2024 Consolidated Financial Statements 368 Moncler Group | Annual Report 2024 Consolidated Financial Statements 369

4.8 Income tax

The income tax ef fect on the consolidated income statement

is as follows:

The tax rate in 2024 was equal to 29.7%, in line with 2023.

Legislative Decree n. 209 of 27 December 2023 implemented

Directive n. 2022/EU/2523, regarding “Global Minimum Tax",

with the explicit aim of ensuring, starting from 1 January 2024,

a minimum level of taxation for groups with revenues exceeding

Euro 750 million. The legislation originates from the rules

formulated in the OECD and is commonly known as “Pillar II".

The Company falls within the scope of application

of this regulation. The impact on taxes resulting from the “Pillar II”

regime is not signif icant.

For the breakdown of deferred tax assets and liabilities by

nature, please see paragraph 5.5.

The reconciliation between the theoretical tax burden by

applying the theoretical rate of the parent company, and the

ef fective tax burden is shown in the following table:

49 Personnel expenses

The following table lists the details of the main personnel

expenses by nature compared with those of the previous year

EUR/000 2024 2023

Current income taxes (260,476)(266,827)

Deferred tax (income) expenses (9,737)8,094

INCOME TAXES CHARGED

IN THE INCOME STATEMENT

(270,213)(258,733)

RECONCILIATION THEORETIC-EFFECTIVE TAX RATE Taxable

Amount 2024

Tax Amount

2024

Tax rate 2024 Taxable

Amount 2023

Tax Amount

2023

Tax rate 2023

EUR/000

Prof it before tax 909,809 870,635

Income tax using the Company’s theoretic tax rate(218,354)24.0% (208,952)24.0%

Temporary differences 8,653(1.0)%(6,012)0.7%

Permanent differences (28,501)3.1% (26,048)3.0%

Other differences (22,273)2.4% (25,814)3.0%

Deferred taxes recognized in the income statement (9,737)1.1% 8,094(0,9)%

Income tax at effective tax rate(270,213)29.7% (258,733)29.7%

EUR000 2024 2023

Wages and salaries and Social security costs368214339286

Accrual for employment benef its2455825655

TOTAL392772364941

Personnel expenses increased by 7.6%, from EUR 364.9 million

in 2023 to EUR 392.8 million in 2024.

The remuneration related to the members of the Board of

Directors is commented separately in the related-party section

(note 10.1).

The costs related to the stock based compensation plans, equal

to EUR 47.0 million (EUR 40.0 million in 2023) are separately

commented in note 10.2.

The following table analyses the number of employees

(full-time-equivalent) in 2024 compared to the prior year:

The actual number of employees of the Group as at 31 December

2024 was 8,175 unit (7,510 as at 31 December 2023).

4.10 Depreciation and amortisation

Depreciation and amortisation are broken down as follows:

The increase in both depreciation and amortisation was mainly

due to investments made for the new store openings or the

relocation/expansion of already existing stores, in IT, logistic

and operation.

The amortisation related to the right of use amounted

to EUR 186.2 million (EUR 177.5 million in 2023), as explained

in paragraph 53

Please refer to comments made in notes 51 and 53 for

additional details related to investments made during the year

AVERAGE FTE BY AREA

FTE 2024 2023

Italy 2,181 1,951

Other European countries 2,828 2,445

Asia and Japan 1,939 1,706

Americas 468 439

TOTAL 7,416 6,541

EUR/000 2024 2023

Depreciation of property, plant and equipment(275,306)(265,314)

Amortization of intangible assets(31,538)(26,386)

TOTAL DEPRECIATION AND AMORTIZATION (306,844)(291,700)