Moncler H1 revenues up 17 percent

In the first half of fiscal year 2016, Moncler recorded revenues of 346.5 million euros (383.6 million dollars), an increase of 17 percent at constant and current exchange rates compared to revenues of 295.8 million euros (327.4 million dollars) in the same period of 2015.

Commenting on the first half trading, Remo Ruffini, Moncler’s Chairman and Chief Executive Officer, said, “I am extremely happy with the results achieved in the first six months of 2016. In what was a generally complex situation for the luxury goods sector, Moncler delivered double-digit growth in sales, performing well in all markets in which we operate and across all distribution channels.”

Reports positive financial results across geographies

In the first half, Moncler recorded positive performances in all its markets. In Asia & Rest of the World, revenues increased 30 percent at constant and current exchange rates. Mainland China and Japan recorded above average growth, driven by the retail stores. Korea too witnessed positive trading, where Moncler opened a retail store in Seoul Incheon airport at the end of June.

In the Americas, the company recorded revenue growth of 20 percent at constant exchange rates and 23percent at current exchange rates, due to solid growth in both channels. The performance of the retail network was driven by organic growth, which accelerated in Q2, and by new openings. In EMEA, Moncler achieved growth of 8 percent at constant exchange rates and 7 percent at current exchange rates. United Kingdom and Germany also showed good results.

The continued slowdown of tourist flows in France was offset by the positive trends in local demand. In Italy revenues rose 5 percent, driven by good results in both distribution channels, particularly retail stores.

Growth witnessed through retail distribution channels

Revenues from the retail distribution channel were 245.9 million euros (272.1 million dollars) compared to 201.4 million euros (222.8 million dollars) in the same period of 2015, representing an increase of 22 percent at constant and current exchange rates. The Group achieved comparable store sales growth of 5 percent, with positive results in all markets where Moncler is present.

The wholesale channel recorded revenues of 100.6 million euros (111.3 million dollars) compared to 94.4 million euros (104.4 million dollars) in the first half of 2015, an increase of 6 percent at constant exchange rates and 7 percent at current exchange rates, supported by a good performance in the North American market. As at June 30, 2016, Moncler’s mono-brand distribution network consisted of 179 retail directly operated stores (DOS), an increase of six units and 36 wholesale shop-in-shops.

Other financial highlights of H1

Adjusted EBITDA rose to 78.3 million euros (86.6 million dollars), compared to 70.9 million euros (78.4 million dollars) in the first six months of 2015, resulting in an EBITDA margin of 22.6 percent compared to 24 percent in the first half of 2015. Adjusted EBIT4 was 59 million euros (65.2 million dollars), compared to 53.8 million euros (59.5 million dollars) in the first six months of 2015, resulting in an EBIT margin of 17 percent.

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