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Moncler Group | Annual Report 2024 Separate Financial Statements 441 Moncler Group | Annual Report 2024 Separate Financial Statements 440

4.2 Impairment of intangible assets

with an indef inite useful life

The caption Brands, which has an indef inite useful life, has not been

amortised, but has been tested for impairment by management.

The impairment tests on the Moncler brand and on the

Stone Island brand were performed by comparing its carrying

value with that derived from the discounted cash f low method

applying the Royalty Relief Method, based on which the cash f lows

are linked to the recognition of a royalty percentage applied

to revenues that the brand is able to generate.

For the 2024 valuation of the Moncler and Stone Island

brand and goodwill, the expected cash f lows and revenues are

based on the 2025 Budget approved by the Board of Directors

on 12 December 2024, for the year 2026 on the Business Plan

2024–2026 approved by the Board of Directors on 14 December

2023 and for 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 took

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

amount of the Moncler brand is conf irmed in all scenarios

of reasonable changes of the benchmarks The Stone Island brand

up to a WACC of 96 all other parameters being equal

ACCUMULATED AMORTISATION BRANDS AND OTHER INTANGIBLE ASSETS

EUR/000 Brands Software Other intangible assets TOTAL

1 January 2023 0(483)(7,721)(8,204)

Depreciation 0(41)(898)(939)

Disposals 0 0 0 0

Other movements, including transfers

0 0 0 0

31 DECEMBER 2023 0(524)(8,619)(9,143)

4.3 Property, plant and equipment

The changes in property, plant and equipment for 2024 and 2023

is included in the following tables:

As at 31 December 2024

As at 31 December 2023

PROPERTY, PLANT AND EQUIPMENT 2024 2023

EUR/000 Gross value Accumulated depreciation

and impairment

Net value Net value

Land and buildings 1,490(1,276)214 4,151

Plant and Equipment 125(121)4 7

Fixtures and f ittings 243(215)28 51

Leasehold improvements 151(95)56 84

Other f ixed assets 1,146(918)228 258

Assets in progress 611 0 611 270

TOTAL 3,766(2,625)1,141 4,821

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 6,040 125 243 151 1,007 270 7,836

Acquisitions 39 0 0 0 238 838 1,115

Disposals(4,589)0 0 0(99)(497)(5,185)

Other movements,

including transfers

0 0 0 0 0 0 0

31 DECEMBER 2024 1,490 125 243 151 1,146 611 3,766

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(1,889)(118)(192)(67)(749)0(3,015)

Depreciation(784)(3)(23)(28)(233)0(1,071)

Disposals 1,397 0 0 0 64 0 1,461

Other movements,

including transfers

0 0 0 0 0 0 0

31 DECEMBER 202412761212159591802625

GROSS VALUE PROPERTY PLANT AND EQUIPMENT

EUR000 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 7665 123 234 114 928 456 9520

Acquisitions 546 2 9 37 239156677

Disposals21710 0 016002331

Other movements

including transfers

0 0 0 0 03030

31 DECEMBER 2023 6040 125 243 151 1007 270 7836

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