Moncler Group | Annual Report 2024 Consolidated Financial Statements 374 Moncler Group | Annual Report 2024 Consolidated Financial Statements 375

The changes related to the right of use assets arising

from the application of the IFRS 16 are reported here below:

The increases in 2024 refer to new lease agreements for the

opening or relocation of retail stores and the renewal of existing

lease agreements, mainly in the AMERICAS, APAC and

EMEA regions.

In addition to the above mentioned ef fect arising from

the application of the IFRS 16, the changes in property plant

and equipment in 2024 show an increase in gross value

of the items plant and equipment, f ixture and f ittings,

leasehold improvements and assets in progress and advances:

all of these items are mainly related to the development of

the distribution network and the investments for the expansion

of the production sites

Please refer to the Directors report for an analysis of

investments made during the year

Based on the business performance recorded in the periods

under analysis and the updated forecasts of future trends

no potential indicators of impairment were identif ied

and no specif ic impairment tests were performed on these items

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 2023(495,760)(31,687)(120,239)(245,381)(32,715)0(925,782)

Depreciation(180,504)(7,571)(18,077)(52,490)(6,672)0(265,314)

Disposals 11,172 611 4,306 11,116 874 0 28,079

Changes in

consolidation area

0 0(3)3 0 0 0

Translation

adjustement

15,354(20)1,894 8,418 323 0 25,969

Other movements,

including transfers

1,472(19)2 11 152 0 1,618

31 DECEMBER 2023(648,266)(38,686)(132,117)(278,323)(38,038)0(1,135,430)

RIGHT OF USE ASSETS

EUR/000 Land and buildings Other f ixed assets TOTAL

1 January 2024 735,510 1,991 737,501

Acquisitions 299,389 2,102 301,491

Disposals(10,977)(46)(11,023)

Depreciation(187,284)(1,691)(188,975)

Translation adjustement 9,177 2 9,179

31 DECEMBER 2024 845,815 2,358 848,173

5.4 Investments in associates

The item investments in associates mainly includes the 30%

investment in the company ALS Luxury Logistic S.r.l., logistics

partner of the Group and the 24% investment in Star Color S.r.l.,

a company that carries out garment dyeing activities.

5.5 Deferred tax assets and deferred tax liabilities

Deferred tax assets and deferred tax liabilities are of fset only

when there is a law within a given tax jurisdiction that provides

for such right to of fset. The balances were

as follows as at 31

December 2024 and 31 December 2023:

In view of the nature of the net deferred tax assets, mainly

related to temporary dif ferences, and the reasonable expectation

of future taxable income based on the results achieved

in the recent past and on what is expected in the Budget 2025

(approved by the Board of Directors on 12 December 2024),

and in the Business Plan 2024–2026 (approved by the Board

of Directors on 14 December 2023), the recoverability

of the deferred tax assets recognised in the f inancial statements

is considered highly probable.

DEFERRED TAXATION

EUR/000 31 December 2024 31 December 2023

Deferred tax assets 286,780 252,197

Deferred tax liabilities (103,282)(63,034)

NET AMOUNT 183,498 189,163