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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%

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