Moncler Group | Annual Report 2024 Consolidated Financial Statements 397 Moncler Group | Annual Report 2024 Consolidated Financial Statements 396
10. Other information
10.1 Related party transactions
Set out below are the transactions with related parties
deemed
relevant for the purposes of the “Related-party
procedure”
adopted by the Group.
The “Related-party procedure” is available on the
Company’s website (w w w.monclergroup.com, under
“Governance/Corporate documents”).
Transactions and balances with consolidated companies
have been eliminated during consolidation and are therefore
not commented here.
During 2024, related-party transactions mainly relate
to trading transactions carried out on an arm's length
basis with the following parties:
•Yagi Tsusho Ltd, until 28 March 2024, was the counterparty
to the transaction which led to the establishment
of Moncler Japan Ltd. and acquired f inished products
from Moncler Group companies (EUR 36.5 million
until 28 March 2024 and EUR 138.3 million in 2023) and
then sold them to Moncler Japan Ltd. (EUR 38.4 million
until 28 March 2024 and EUR 154.4 million in 2023) pursuant
to contracts agreed upon the company’s es
tablishment.
These transactions, in the f inancial statements, were indicated
in the cost of sales item for Euro 6.1 million in 2024
(EUR 16.1 million in 2023). On 28 March 2024, the Group
acquired the stake held by Yagi Tsusho Ltd in Moncler Japan
Ltd, r
eaching 100% ownership of the same. From that date,
Yagi Tsusho Ltd no longer qualif ies as a related party.
•Gokse Tekstil Kozmetik Sanayi ic ve dis ticaret limited
sirketi, company held by the minority shareholder
of Moncler Istanbul Giyim ve Tekstil Ticaret Ltd. Sti,
provides services to that company. Total costs incurred
for these services for 2024 amounted to EUR 0.2
million (EUR 0.2 million in 2023).
•The company La Rotonda S.r.l., owned by a manager
of the Moncler Group, acquires f inished products from
Industries S.p.A. and provides services to the same.
Total revenues generated by the Group to this entity
in 2024 amounted to EUR 14 million EUR 14 million in 2023
and total costs incurred amounted to EUR 02 million
EUR 02 million in 2023
The company Rivetex Srl a company referable to Carlo
Rivetti and his family members rents a building to Moncler
Group in 2024 total costs amounted to EUR 05 million
EUR 05 million in 2023
Mr Fabrizio Ruf f ini brother of the Chairman of the Board
of Directors and Chief Executive Of f icer of Moncler
SpA provides consultancy services relating to research
development and quality control for Moncler branded
products Total costs recognised for 2024 amounted
to EUR 06 million EUR 06 million in 2023
•The company ALS Luxury Logistics S.r.l., is an associated
company that provides logistics services; in 2024 the total
costs amounted to EUR 45.4 million (EUR 28.4 million
in 2023), of which EUR 28.7 million recorded in the item
cost of sales (EUR 17.3 million in 2023), EUR 16.6
million recorded in the item general and administrative
expenses (EUR 11.1 million in 2023) and EUR 0.1 million
in the item selling expenses (EUR 0.0 million in 2023).
The companies Industries S.p.A. and Sportswear Company
S.p.A. adheres to the Parent Company Moncler S.p.A.
VAT and f iscal consolidation.
Compensation paid to directors, board of statutory auditors
and executives with strategic responsibilities
Compensation paid to the members of the Board of Directors
in 2024 amounted to EUR 8,068 thousand (EUR 9,635 thousand
in 2023).
Compensation paid to the members of the Board of Auditors
in 2024 amounted to EUR 200 thousand (EUR 182.8 thousand
in 2023).
In 2024 total compensation paid to executives with strategic
responsibilities amounted to EUR 3,882 thousand (EUR 4,066
thousand in 2023).
In 2024 the costs relating to performance share plans
(described in paragraph 10.2) referring to members of the Board
of Directors and Key management personnel amounted to EUR
16,293 thousand (EUR 15,915 thousand in 2023).
The following tables summarise the afore-mentioned related-
party transactions that took place during 2024 and the prior year.
EUR/000 Type of relationship Note 31 December
2024
%31 December
2023
%
Yagi Tsusho Ltd Distribution agreement a 36,484(5.3)%138,251(20.2)%
Yagi Tsusho Ltd Distribution agreement a(38,399)5.6%(154,384)22.6%
Gokse Tekstil Kozmetik Sanayi ic ve dis
ticaret limited sirketi
Service agreement b(167)0.0%(161)0.0%
La Rotonda S.r.l.Trade transactions c 1,393 0.0%1,399 0.0%
La Rotonda S.r.l.Trade transactions d(157)0.0%(151)0.0%
Rivetex S.r.l.Trade transactions d(520)0.1%(494)0.1%
Fabrizio Ruff ini Service agreement b(553)0.2%(553)0.2%
ALS Luxury Logistics S.r.l.Service agreement d(65)0.0%(23)0.0%
ALS Luxury Logistics S.r.l.Service agreement b(16,618)4.7%(11,084)3.3%
ALS Luxury Logistics S.r.l.Service agreement a(28,725)4.2%(17,284)2.5%
Directors, board of statutory auditors
and executives with strategic
responsibilities
Labour services b(26,366)7.5%(27,795)8.4%
Executives with strategic
responsibilities
Labour services d(2,076)0.2%(2,003)0.2%
TOTAL(75,769) (74,282)
a effect in % based on cost of sales
b effect in % based on general and administrative expenses
c effect in % based on revenues
d effect in % based on selling expenses
EUR/000 Type of relationship Note 31 December
2024
%31 December
2023
%
Yagi Tsusho Ltd Trade payables a 0 0.0%(35,845)6.7%
Yagi Tsusho Ltd Trade receivables b 0 0.0%4,429 1.4%
La Rotonda S.r.l.Trade receivables b 383 0.1%63 0.0%
La Rotonda S.r.l.Trade payables a(38)0.0%(37)0.0%
Fabrizio Ruff ini Trade payables a(139)0.0%(137)0.0%
ALS Luxury Logistics S.r.l.Trade payables a(11,606)2.1%(14,307)2.7%
Directors, board of statutory auditors
and executives with strategic
responsibilities
Other current liabilities c(5,946)4.1%(7,334)4.8%
TOTAL (17,346) (53,168)
a effect in % based on trade payables
b effect in % based on trade receivables
c effect in % based on other current liabilities