Moncler in rallies a Milano after the results that showed revenues above expectations in the fourth quarter. The company known for its duvets was unable to make the price at the start and then entered into trading at +7,2%, placing itself at the top of the Ftse Mib. The title is currently up by 6,19% to 61,38 euros per share, after reaching a high for the day of 62,72 euros, a level not seen since January 2022. The good performance of the luxury sector in following the positive news on the acceleration of Chinese growth. In fact, the other titles in the sector are also running: Ferragamo +2,5% and Brunello Cucinelli + 1,76%.
But the biggest push comes from 2022 results, highly appreciated by analysts, who above all reward the indications on the "very favourable" January-February trends. Moncler closed the financial year with revenues up 25% to 2,6 billion euros, a ebit to 774,5 million with an incidence on revenues of 29,8% and over 600 million euros in net profit. The value of the results "is even more significant if we consider the complicated context in which they were achieved" added the CEO Remo ruffini, who also spoke about the successes of the well-known brand, recalling the 70-year anniversary of Moncler and the 40 of Stone island. Both recorded double-digit revenue growth, with “a record €2,2 billion and €400 million in sales, with solid growth across all geographies in both channels”.
Moncler's quarterly results push the title to Piazza Affari
In detail of fourth quarter, the Italian textile company specializing in winter clothing achieved revenues of 1,04 billion euros, reporting an improvement of 19% compared to the fourth quarter of 2021. Sales generated by the brand amounted to 949,3 million (+ 16%), thus highlighting an increase of 52% compared to the corresponding three months of 2019, thanks to a marked acceleration in all regions, while the Stone Island contribution is 97 million euros (+48%).
Ebit in the fiscal year was 774,5 million euros with an incidence on revenues of 29,8%. An increasing result compared to 603,1 million in 2021 and with a margin of 29,5%. The income statement closed with a net profit of 606,7 million euros compared to 411,4 million in the previous twelve months, also including an extraordinary tax benefit of 92,3 million for the realignment of the tax value of the Stone island brand . There net financial position therefore amounted to 818,2 million in cash, after the payment of 161 million in dividends, 48,4 million in the repurchase of treasury shares and 124,1 million in substitute tax for the realignment of the tax value of Stone island. At December 31, 2022, the lease liabilities amounted to 837,4 million euros. Finally, the board of directors approved the proposal for the distribution of a dividend of 1,12 euro per share, double the previous year.
And for 2023?
Despite the complexity of the current macro environment, there is no shortage of opportunities for the luxury group. “We face the year with confidence and energy, with the awareness of being able to count on a flexible and reactive organization and on a clear strategic vision whose priority remains to continue to strengthen our brands, always involving and inspiring new communities, Beyond Fashion, Beyond Luxury”.
