• Home
  • News
  • Business
  • Moncler revenues climb 17 percent in 2017

Moncler revenues climb 17 percent in 2017

By Prachi Singh

loading...

Scroll down to read more

Business

In 2017, Moncler recorded revenues of 1,193.7 million euros (1,471.4 million dollars), an increase of 17 percent at constant exchange and 15 percent at current exchange rates over 2016. In the fourth quarter, the company said, revenues rose 17 percent at constant exchange and of 14 percent at current exchange rates.

Commenting on the results, Remo Ruffini, Moncler’s Chairman and Chief Executive Officer, said in a statement: “I believe that a double-digit growth in all key financial indicators and a net cash generation of approximately 200 million euros confirm, once again, Moncler’s strength and the validity of our strategy.”

Moncler’s results across geographies

In Italy, revenues rose 4 percent at constant exchange rates, with balanced performances in both the retail and the wholesale distribution channels. In particular, the company added, in the fourth quarter the retail channel benefited from a good organic growth and the re-opening of the flagship store in Milano, in Via Montenapoleone.

In EMEA, Moncler’s revenues grew 19 percent at constant exchange, with double-digit growth in both the retail and the wholesale channels and in the main markets. The brand recorded positive performances in France, the United Kingdom and Germany. The United Kingdom also achieved double-digit growth in the fourth quarter. Also in France, revenues continued to grow at double-digit in the fourth quarter.

In Asia and rest of the world, revenues increased 20 percent at constant exchange rates with double-digit sales growth recorded by the Japanese market in the fourth quarter. Moncler said, robust performances continued in China, driven by a double-digit organic growth in the fourth quarter, and in Hong Kong, where a flagship store in Canton Road was opened.

In the Americas, revenues grew 14 percent at constant exchange. The company witnessed good results in Canada and in the United States for both the retail and the wholesale distribution channels.

In 2017, revenues from the retail distribution channel increased to 892.4 million euros (1,100 million dollars), an increase of 19 percent at constant exchange rates. The group also achieved comparable store sales growth of 14 percent. The wholesale channel revenues of 301.3 million euros (371.4 million dollars) increased 10 percent at constant exchange, driven by positive growth in the United Kingdom and North America markets.

As at December 31, 2017, Moncler’s mono-brand distribution network consisted of 201 retail directly operated stores (DOS), an increase of 11 units compared to 2016, and 59 wholesale shop-in-shops (SiS), an increase of 17 units. In the fourth quarter, Moncler opened six retail DOS and 11 SiS.

Review of Moncler’s full year results

In 2017 the consolidated gross margin was 917.5 million euros (1,130.9 million dollars), 76.9 percent of revenues compared to 75.7 percent in 2016 due to growth in the retail channel and higher production efficiency. Adjusted EBITDA rose to 411.6 million euros (507.3 million dollars), compared to 355.1 million euros (437.7 million dollars) in 2016, resulting in an EBITDA margin of 34.5 percent compared to 34.1 percent in 2016. EBIT was 340.9 million euros (420 million dollars), an increase of 15 percent and representing an EBIT margin of 28.6 percent, stable compared to 2016.

Moncler S.p.A. revenues rose to 200 million euros (246.5 million dollars) in 2017, an increase of 15 percent over 2016, mainly arising from proceeds arising out of the licensing of the Moncler brand. Net income was 133.3 million euros (164.3 million dollars), an increase of 63 percent over last year.

The company said that its board of directors has resolved to propose to shareholders the payment of a dividend of 70.8 million euros (87.2 million dollars) for 2017, equal to 0.28 euros (0.35 dollars) per ordinary share and representing a pay-out ratio of 28 percent of net income.

Picture:Moncler media centre

Moncler
MULTIMEDIA