Moncler Group | Annual Report 2024 Board of Directors’ Report 62 Moncler Group | Annual Report 2024 Board of Directors’ Report 63
Introduction
In accordance with Article 40, paragraph 2 bis of the Legislative
Decree 127 of 09/04/91, the Parent Company has prepared
the Directors’ Report as a single document for both the separate
f inancial statements of Moncler S.p.A. and the Group consolidated
f inancial statements.
Consolidated revenues
In 2024, Moncler Group reached consolidated revenues of EUR
31089 million up 7 cFX compared with 2023 These results
include Moncler brand revenues of EUR 27073 million and
Stone Island brand revenues of EUR 4016 million
In the fourth quarter Group revenues were EUR 12432 million
up 8 cFX compared with the same period of 2023
The Moncler and Stone Island brands recorded revenues equal
to EUR 11341 million and EUR 1092 million respectively in Q4
Economic results
Following is the reclassif ied consolidated income statement
for FY 2024, compared with FY 2023 f inancial data.
Performance of the Moncler Group
EUR/000 FY 2024% on revenues FY 2023% on revenues
REVENUES 3,108,924 100.0% 2,984,217 100.0%
YoY performance +4%+15%
GROSS PROFIT 2,426,557 78.1% 2,300,830 77.1%
Selling expenses(937,349)(30.2%) (868,062)(29.1%)
General & Administrative
expenses
(351,656)(11.3%)(331,231)(11.1%)
Marketing expenses(221,228)(7.1%)(207,698)(7.0%)
EBIT 916,324 29.5% 893,839 30.0%
Net f inancial income /
(expenses)
(6,515)(0.2%) (23,204)(0.8%)
EBT 909,809 29.3% 870,635 29.2%
Taxes(270,213)(8.7%)(258,733)(8.7%)
Tax rate 29.7% 29.7%
GROUP NET RESULT 639,596 20.6% 611,931 20.5%
Moncler Group: revenues by brand
Analysis of Moncler brand revenues
In 2024, Moncler brand revenues were EUR 2,707.3 million,
an increase of 8% cFX compared with 2023.
In the fourth quarter, revenues for the brand amounted
to EUR 1,134.1 million, up 8% cFX YoY, accelerating compared
with the growth registered in Q3.
Moncler brand: revenues by geography
In 2024, revenues in Asia (which includes APAC, Japan and Korea)
were EUR 1,379.0 million, up 11% cFX compared with 2023.
In the fourth quarter, revenues in the region grew by 11% cFX
YoY, improving sequentially. This was supported by a return
to solid double-digit growth in the Chinese mainland, despite
a high comparable base and still challenging macroeconomic
conditions af fecting consumer conf idence. Japan, Korea, and
the rest of APAC also delivered a solid performance, all
accelerating compared with the previous quarter.
EMEA recorded revenues of EUR 949.3 million, +5% cFX
compared with 2023. In the fourth quarter, revenues in the region
increased by 3% cFX YoY, improving compared with the previous
quarter thanks to the acceleration of the DTC channel which
registered a positive contribution from both tourists and locals
despite remaining penalised by more dif f icult trends in the direct
online channel
Revenues in the Americas increased by 4 cFX compared
with 2023 to EUR 3790 million In the fourth quarter revenues
in the region were up 5 cFX YoY with the performance
of the DTC channel driving the improvement compared with
the previous quarter both in the physical and in the online channels
MONCLER GROUP FY 2024 FY 2023% vs 2023
EUR/000%EUR/000%rep FX cFX
Moncler 2,707,315 87.1% 2,573,159 86.2% +5%+8%
Stone Island 401,609 12.9% 411,058 13.8% (2%)(1%)
REVENUES 3,108,924 100.0% 2,984,217 100.0% +4%+7%
MONCLER FY 2024 FY 2023% vs 2023
EUR/000%EUR/000%rep FX cFX
Asia 1,378,955 50.9% 1,291,377 50.2% +7%+11%
EMEA 949,328 35.1% 910,489 35.4% +4%+5%
Americas 379,032 14.0% 371,294 14.4% +2%+4%
REVENUES 2,707,315 100.0% 2,573,159 100.0% +5%+8%