Moncler Group | Annual Report 2024 Separate Financial Statements 424 |
1.1 Moncler S.p.A.
Moncler S.p.A. (the “Company” or “Moncler”) is a company
established and domiciled in Italy, with its registered of f ice
located at Via Stendhal 47 Milan, Italy, and registration number
of 04642290961.
The Company is de-facto indirectly controlled by
Remo Ruf f ini through Ruf f ini Partecipazioni Holding S.r.l. (RPH)
and Double R S.r.l. (DR): more specif ically,
Remo Ruf f ini owns the entire share capital of RPH, a company
controlling DR which, in turn, as of 31 December 2024
holds a shareholding representing 16.5% of the share capital
of Moncler S.p.A.
It is t
he Parent Company for the Moncler Group (hereinafter
referred to as the “Group") and 52 other subsidiaries.
The main activity of the Company is the Moncler and
Stone Island brands m
anagement, including increasing awareness
through dedicated communication and marketing campaigns.
The Moncler Group companies run their businesses
in accordance with the guidelines and the strategies set
up by Moncler’s Board of Directors.
The Company also prepares the Consolidated Financial
Statements and the Management Report is a single document
as permitted by Article 40/2 bis (B), Leg. Decree 127/91.
1.2 Basis for the preparation
of the separate f inancial statements
1.2.1 Relevant accounting principles
The 2024 separate f inancial statements (“f inancial statements”)
have been prepared in accordance with International
Financial Reporting Standards (“IFRS") issued
by the International Accounting Standards Board (“IASB")
and endorsed by the European Union. IFRS also includes
all International Accounting Standards (“IAS")
and interpretations of the International Financial Reporting
Interpretations Committee (“IFRIC"), previously known
as the Standing Interpretations Committee SIC
The f inancial statements include the statement
of f inancial position the income statement the statement
of comprehensive income the statement of changes in equity
the statement of cash f lows and the explanatory notes
to the f inancial statements
122 Presentation of the f inancial statements
T
he Company presents its income statement by destination
the method that is considered most representative for
the business at hand This method is in fact consistent with the
internal reporting and management of the business
With reference to the statement of f inancial position a basis
of presentation has been chosen which makes a distinction
between current and non-current assets and liabilities,
in ac
cordance with the provisions of paragraph 60 and thereafter
of IAS 1.
The statement of cash f lows is prepared under the
indirect method.
1.2.3 Basis for measurement
The f inancial statements have been prepared on the historical
cost basis except for the measurement of certain f inancial
instruments (i.e. derivative measured at fair value in accordance
with IFRS 9) and on a going concern basis.
The f inancial statements are presented in thousand
euros, which is the functional currency of the markets where
the Company mainly operates.
The explanatory notes have been prepared in thousands
of Euros unless stated otherwise.
1.2.4 Directors’ assessment on the assumption of
business continuity
Based on the results of the current year and forecasts
for
future years, the management believes that there are no factors
rendering business continuity uncertain. In particular,
the Companies's f inancial strength and its cash and cash
equivalents at the end of the year guarantee a high level
of f inancial independence to support Moncler's operational needs
and development programmes. For 2025, business operations
are fully guaranteed,
both in terms of product of ferings across
the various markets
and distribution channels and in the ability
to manage and organise business activities.
1.2.5 Use of estimates and valuations
The preparation of the f inancial statements and the related
explanatory notes in conformity with IFRS requires that
management makes estimates and assumptions that af fect
the reported amounts of assets and liabilities and disclosure
of contingent assets and liabilities at the reporting date.
The actual results could dif fer from those estimates
The estimates and underlying assumptions are reviewed
periodically and any variation is ref lected in the income statement
in the period in which the estimate is revised if the revision
af fects only that period or even in subsequent periods
if the revision af fects both current and future periods
In the event that managements estimate and judgment
have a signif icant impact on the amounts recognised
in the f inancial statements or in case that there is a risk of future
adjustments on the amounts recognised for assets
and liabilities in the period immediately after the reporting date
the following notes will include the relevant information
1. General information
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