A day of profit taking in Piazza Affari on Moncler shares, which at the start (after yesterday's +1,16%) leave more than four percentage points in the field, to then retrace slightly to -3,3% (14,33. 6 euros). On the monthly average, however, the share gains more than XNUMX%.
The sales come after the accounts published yesterday in closed markets by the historic down jacket company, which closed 2013 with growing profits and revenues, driven in particular by the performances of America and Japan, even if the unfavorable exchange rate effect feel especially in the fourth trimester.
Moncler, landed in Piazza Affari last December, recorded a normalized net profit of 96,3 million euros (+17%), on revenues of 580,6 million (+19%, +25% at constant exchange rates). Normalized Ebitda reached 191,7 million (+19%), normalized Ebit 172,5 million (+18%). Net financial debt amounted to 178,2 million, an improvement compared to 229,1 million as at 31 December 2012.
The numbers are higher than analysts' estimates: the consensus forecast for the whole of 2013 revenues of 576 million euros, an ebitda of 186 million euros, an ebit of 166 million euros and a net profit of 95 million euros.
The CEO and chairman Remo Ruffini and the chief corporate officer Luciano Santel specified in a conference call that Moncler's performance was affected by exchange rate fluctuations, "with a further deterioration of some currencies in the fourth quarter". However - they added - the group managed to protect margins also thanks to pricing policies, with increases in some regions, especially in Japan.
On the geographical front, in 2013 Moncler recorded double-digit growth performance at constant exchange rates in all the international markets in which it operates. In particular, in the Americas the group recorded a growth of 44%, in Asia the turnover grew by 34% and the countries of the EMEA area saw an increase of 28%. Italy recorded a 2% growth, in line with expectations, despite the planned reduction of multi-brand wholesale outlets.
“Looking at the first weeks of 2014, we continue to have strong performances in North America and Japan – explained the top management of the company -. Europe and Italy have been slightly affected by the mild climate, by the mild winter which is not particularly favorable for our business, but they are substantially in line with previous trends”.
