Moncler Group | Annual Report 2024 Separate Financial Statements 452 Moncler Group | Annual Report 2024 Separate Financial Statements 453

7. Information about f inancial risks

The Company's f inancial instruments include cash and cash

e

quivalents, loans, receivables and trade payables

a

nd other current receivables and payables and non-current

assets as well as derivatives.

The Company is mostly exposed to interest rate risk,

liquidity risk and capital risk.

Market risk

Exchange rate risk

The Company operated mostly with companies in euros

and,

as such, the exposure to exchange rate risk is limited.

As at 31 December 2024, a small portion of the Company’s assets

and liabilities (i.e. trade receivables and payables) were

denominated in a currency dif ferent from its functional currency.

Interest rate risk

The Company’s exposure to interest rate risk during 2024

is connected mostly to changes in interest rates relate

to outstanding loans.

As at 31 December 2024 the Company had no bank loans

and therefore there were no interest rate hedges, consequently

any changes in interest rates at the year-end date would

not have signif icant ef fects on the result of the year.

The Company is not exposed to changes in currency

interest rates.

Credit risk

The Company has no signif icant concentrations of credit risk

with companies that are not part of the Group. The maximum

ex

posure to credit risk is represented by the amount reported

in the f inancial statements.

As far as the credit risk arising from other f inancial

assets (including cash, short-term bank deposits and some f inancial

derivative instruments) is concerned, the credit risk for

the Company arises from default of the counterparty with

a maximum exposure equal to the carrying amount

of f inancial assets recorded in the f inancial statements

Liquidity risk

Liquidity risk arises from the ability to obtain f inancial resources

at a sustainable cost in order for the Group to conduct its daily

business operations. The factors that inf luence this risk are related

to the resources generated/absorbed by operating activities,

by investing and f inancing activities and by availability of funds

in the f inancial market.

Management believes that the f inancial resources available

today, along with those that are generated by the current

operations will enable the Company to achieve its objectives

and to meet its investment needs and the repayment of its debt

at the agreed upon maturity date.

Operating and capital management risks

In the management of operating risk, the Company’s main

objective is to manage the risks associated with the development

of business in foreign markets that are subject to specif ic

laws and regulations.

The Group has implemented guidelines in the following areas:

•appropriate level of segregation of duties;

•reconciliation and constant monitoring

of signif icant transactions;

•documentation of controls and procedures;

•technical and professional training of employees;

•periodic assessment of corporate risks

and identif ication of corrective actions.

As far as the capital management risk is concerned,

the Company's objectives are aimed at the going concern issue

in order to ensure a fair economic return to shareholders

and other stakeholders while maintaining a good rating

in the capital debt market. The Company manages its capital

structure and makes adjustments in line with changes in general

economic conditions and with the strategic objectives.

8. Other information

8.1 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 with subsidiaries are of a commercial nature

and

are conducted at market conditions similar to those

conducted with third parties and are detailed as follows:

Moncler S.p.A. granted to the subsidiary Industries S.p.A.

a license to use the Moncler brand and to the subsidiary

Sportswear Company S.p.A. a license to use the Stone Island

brand. Based on the license agreements, the Company

is remunerated through payments of royalties.

The total amount of royalties for f iscal year 2024 amounted

to EUR 489.7 million (EUR 469.3 million in 2023).

Please note that Moncler S.p.A. is part of the Group’s f iscal

and VAT consolidation and is responsible with Industries S.p.A.

and Sportswear Company S.p.A. for taxes payable and

the related interests.

The company Rivetex Srl a company referable to Carlo Rivetti

and his family members rents a building to the Company

in 2024 total costs amounted to EUR 520 thousand EUR 494

thousand in 2023

Compensation paid to the members of the Board of Directors

in 2024 are EUR 7609 thousand EUR 8917 thousand in 2023

Compensation paid to the members of the Board of Auditors

in 2024 are EUR 200 thousand EUR 183 in 2023

In 2024 the costs relating to Performance Shares described

in note 82 referring to members of the Board of Directors

amount to EUR 8638 thousand EUR 9032 thousand in 2023

There are no other relatedparty transactions

INTERCOMPANY BALANCES 31 December 2024

EUR/000 Receivables Payables Net value

Industries S.p.A. 183,643(368,035)(184,392)

Sportswear Company S.p.A. 3,092(27,598)(24,506)

Other Group companies 375(284)91

TOTAL 187,185(396,755)(209,570)

INTERCOMPANY TRANSACTIONS 2024

EUR/000 Revenues Expenses/Other revenues net Net value

Industries S.p.A. 427,553(22,209)405,344

Sportswear Company S.p.A. 61,790(696)61,094

Other Group companies 0(342)(342)

TOTAL 489,343(23,247)466,096