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Moncler Group | Annual Report 2024 Consolidated Financial Statements 390 Moncler Group | Annual Report 2024 Consolidated Financial Statements 391

8. Contingent liabilities

As the Group operates globally, it is subject to legal and tax risks

which may arise during the performance of its ordinary

activities. Based on information available to date, the Group

believes that at the date of preparation of this document

there are no further potential liabilities in addition to those

already recorded in the provisions accrued in the Consolidated

Financial Statements.

7. Commitments and guarantees given

7.1 Commitments

The Group does not have signif icant commitments arising

from operating lease contract or other contractual cases

that do not fall within the scope of IFRS 16.

7.2 Guarantees given

As at 31 December 2024 the Group had given

the following guarantees:

Guarantees pertain mainly to lease agreements for the stores.

GUARANTEES AND BAILS GIVEN

EUR/000 31 December 2024 31 December 2023

Guarantees and bails given for the benef it of:

Third parties/companies 62,284 56,615

TOTAL GUARANTEES AND BAILS GIVEN 62,284 56,615

9. Information about f inancial risks

The Group's f inancial instruments include cash and cash

equivalents, loans, receivables and trade payables and

other current receivables and payables and non-current

assets as well as derivatives.

The Group is exposed to f inancial risks related to its

operations: market risk (mainly related to exchange rates

and interest rates), credit risk (associated with both regular client

relations and f inancing activities), liquidity risk (with particular

reference to the availability of f inancial resources and access

to the credit market and f inancial instruments) and capital risk.

Financial risk management is carried out by Headquarters,

which ensures primarily that there are suf f icient f inancial

resources to meet the needs of business development and that

resources are properly invested in income-generating activities.

The Group uses derivative instruments to hedge its exposure

to specif ic market risks, such as the risk associated with

f luctuations in exchange rates and interest rates, on the basis

of the policies established by the Board of Directors.

9.1 Market risk

Foreign exchange rate risk

The Group operates internationally and is exposed to foreign

exchange rate risk primarily related to the U.S. Dollar,

the Japanese Yen and the Chinese Renminbi and to a lesser

extent to the Hong Kong Dollar, British Pound, Korean Won,

Canadian Dollar, Swiss Franc, Taiwan Dollar, Singapore Dollar,

Australian Dollar, Mexican Peso, Norwegian Kroner,

New Zealand Dollar and Swedish Kroner.

The Group regularly assesses its exposure to f inancial market

risks and manages these risks through the use of derivative

f inancial instruments, in accordance with its established risk

management policies.

The Group’s policy permits derivatives to be used only

for managing the exposure to f luctuations in exchange rates

connected with future cash f lows and not for speculative purposes.

During 2024 the Group put in place a policy to hedge

the exchange rates risk on transactions with reference

to the major currencies to which it is exposed USD JPY CNY

HKD GBP KRW CAD CHF TWD SGD AUD MXN

NOK NZD and SEK

The instruments used for these hedges are mainly Currency

Forward Contracts and Currency Option Contracts

The Group uses derivative f inancial instruments as cash

f low hedges for the purpose of redetermining the exchange

rate at which forecasted transactions denominated in foreign

currencies will be accounted for

Counterparties to these agreements are major and diverse

f inancial institutions

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