Moncler Group | Annual Report 2024 Consolidated Financial Statements 372 Moncler Group | Annual Report 2024 Consolidated Financial Statements 373
For the 2024 valuation of the Moncler and Stone Island brand
and goodwill, the expected cash f lows and revenues are based
on 2025 Budget approved by the Board of Directors
on 12 December 2024, for the year 2026 on the 2024–2026
Business Plan approved by the Board of Directors
on 14 December 2023 and for the years from 2027
–
2029
on the basis of management estimates consistent with the
expected development plans.
The “g" rate used was 2.5%.
The discount rate was calculated using the Weighted
Average Cost of Capital (WACC), by weighting the expected
rate of return on invested capital, net of hedging costs from
a sample of companies within the same industry. The calculation
t
ook into account the implications of the updated
macroeconomic context on interest rates. The weighted
average cost of capital (WACC) was calculated at 8.5% for the
Moncler brand and at 9.0% for Stone Island.
The results of the sensitivity analysis indicated that
the carrying amounts of the Moncler brand and goodwill are
conf irmed in all scenarios of reasonable changes of the
benchmarks. The Stone Island brand and goodwill up to a WACC
of 9.6% and 9.8% respectively, all other parameters being equal.
It is also underlined that the market capitalisation
of the Company, based on the average price of Moncler share
in 2024, showed a signif icant positive dif ference with respect
to the Group net equity, implicitly conf irming again the value of
the intangibles registered.
5.3 Net property, plant and equipment
PROPERTY, PLANT AND EQUIPMENTS 31 December 2024 31 December 2023
EUR/000 Gross value Accumulated
depreciation and
impairment
Net value Net value
Land and buildings 1,698,338(809,873)888,465 765,149
Plant and Equipment 71,153(45,599)25,554 24,627
Fixtures and f ittings 213,056(150,146)62,910 60,024
Leasehold improvements 507357325040182317 163133
Other f ixed assets 551314370211429 11641
Assets in progress 80204 0 80204 57906
TOTAL 262523913743601250879 1082480
The change in property, plant and equipment is included
in the following tables:
As at 31 December 2024
As at 31 December 2023
GROSS VALUE PROPERTY, PLANT AND EQUIPMENT
EUR/000 Land and
buildings
Plant and
Equipment
Fixtures and
f ittings
Leasehold
improvements
Other f ixed
assets
Assets in
progress and
advances
TOTAL
1 January 2024 1,413,415 63,313 192,141 441,456 49,679 57,906 2,217,910
Acquisitions 309,508 5,311 16,974 58,816 5,090 54,199 449,898
Disposals(40,648)(341)(4,229)(10,006)(1,340)(7,321)(63,885)
Translation
adjustement
25,115(34)2,378 4,856 270 577 33,162
Other movements,
including transfers
(9,052)2,904 5,792 12,235 1,432(25,157)(11,846)
31 DECEMBER 2024 1,698,338 71,153 213,056 507,357 55,131 80,204 2,625,239
ACCUMULATED DEPRECIATION AND IMPAIRMENT PPE
(EUR/000)Land and
buildings
Plant and
Equipment
Fixtures and
f ittings
Leasehold
improvements
Other f ixed
assets
Assets in
progress and
advances
TOTAL
1 January 2024(648,266)(38,686)(132,117)(278,323)(38,038)0(1,135,430)
Depreciation(189,437)(7,863)(20,111)(51,041)(6,854)0(275,306)
Disposals 29,516 238 4,044 9,648 1,273 0 44,719
Translation
adjustement
(16,073)3(2,234)(3,945)(225)0(22,474)
Other movements,
including transfers
14,387 709 272(1,379)142 0 14,131
31 DECEMBER 2024(809,873)(45,599)(150,146)(325,040)(43,702)0(1,374,360)
GROSS VALUE PROPERTY, PLANT AND EQUIPMENT
EUR/000 Land and
buildings
Plant and
Equipment
Fixtures and
f ittings
Leasehold
improvements
Other f ixed
assets
Assets in
progress and
advances
TOTAL
1 January 2023 1,296,502 53,936 166,449 386,389 43,717 53,279 2,000,272
Acquisitions 171,572 5,767 29,924 61,723 7,178 31,597 307,761
Disposals28170365462211393107112045741
Changes in
consolidation area
2120315527 0 0 0
Translation
adjustement
271691725951321651074944222
Other movements
including transfers
892 3958 3300 17426 36526101160
31 DECEMBER 2023 1413415 63313 192141 441456 49679 57906 2217910