Moncler Financials FY 2020 Released

The Board of' Directors of Moneler S.p.A. approved the draft of the consolidated results for the Financial Vear ended 31 December 20201 .

Despite the negative impacts of the Covid-19 pandemic,Moncler recorded a significant recovery in the second half of' the year, confirming the strength of the Brand and the effectiveness of the Group's business model.

In detail, Fiscal Vear 2020 recorded:

• Consolidated Revenues: 1,440.4 million euros, -11% at constant exchange rates and -12% at current exchange rates, compared to 1,627.7 million euros in 2019. In the fourth quarter, revenues were equal to 67;5.:3 million euros (+8% at constant exchange rates and +7% at current exchange rates). Comparable Store Sales Growth2: -18% (-9% in the second halt)
• EBIT: :368.8 million euros with a margin of' 25.6% compared to a margin of :30.2% in 2019. In the second half, the operating margin was equal to 39.0% compared to 36.8% in H2 2019
• Net income: 300.4 million euros compared to 3;38.7 million euros in 2019, with a margin of 20.9% (22% in FY 2019). In H2 2020, the net margin was equal to :32.0% compared to 27.:3% in H2 2019, also thanks to a tax benefit recorded in the second half of the year
• Net Financial Position: 8;3;3.3 million euros as of 31 December 2020 compared to 662.6 million euros at ;31 December 2019. As of ;31 December 2020, lease liabilities were 640.:3 million euros compared to 6:39.2 million euros on ;31 December 2019

The Board of Directors has also poposed a dividend of0.4;5 euros per share, equal to 11:3.7 million euros and approved the preliminary results of the Consolidated Non-Financial Statement for Fiscal year 2020.

Remo Ruffini, Moncler’s chairman and CEO, said: “2020 will remain marked in the world’s and Moncler’s history.  Going back over all the thoughts, emotions and actions of these past months would only be reductive, and I usually like to look ahead, to the future,” said Ruffini. “At the same time, I think it is important to acknowledge those crucial moments when you act with courage amid uncertainty. This has been the strength that has guided us through these past months, especially in the last key weeks of 2020.”

“In November, after a few months of cautious optimism and hope, we found ourselves back within the uncertainty of rising infection rates, lockdowns and the impossibility to plan. This has once again pushed us to demonstrate Moncler’s great ability to react, without which we would not be commenting on what I believe to be an exceptional set of results, and meanwhile we have maintained a strong focus on sustainability and on the targets set in the Moncler Born to Protect plan.

“The final months of 2020 will always be remembered at Moncler, as in the midst of a difficult time for Italy and the world, we announced the Stone Island deal. It is a union that I hoped for and pursued, and which was made possible thanks to the common vision of two entrepreneurs, Carlo Rivetti and myself, who share the same ideals, the same passion, the same love for their companies. […] I think that together with Carlo and all the people at Stone Island and Moncler, we will be able to make this new journey unique.”