Earnings Release • Mar 16, 2022
Earnings Release
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| Informazione Regolamentata n. 1218-14-2022 |
Data/Ora Ricezione 16 Marzo 2022 18:12:32 |
Euronext Milan | |
|---|---|---|---|
| Societa' | : | MONCLER | |
| Identificativo Informazione Regolamentata |
: | 158587 | |
| Nome utilizzatore | : | MONCLERN03 - Bonante | |
| Tipologia | : | 1.1 | |
| Data/Ora Ricezione | : | 16 Marzo 2022 18:12:32 | |
| Data/Ora Inizio Diffusione presunta |
: | 16 Marzo 2022 18:12:33 | |
| Oggetto | : | FY 2021 Annual report approved | |
| Testo del comunicato |
Vedi allegato.
Milan, 16 March 2022 – In accordance with the press release published on 24 February c.a., the Board of Directors of Moncler S.p.A., which met today, has examined and approved the Draft Financial Statements and the Consolidated Financial Statements for the Fiscal Year ended 31 December 2021.
In 2021, Moncler Group reached consolidated revenue of EUR 2,046.1 million, composed by EUR 1,824.2 million for the Moncler brand and EUR 221.9 million of Stone Island brand, consolidated since 1 April 2021. Group net income, net of una tantum impacts for the Stone Island consolidation, was EUR 411.4 million in 2021, equivalent to 20.1% of revenues. The net financial position as of 31 December 2021 was positive and equal to EUR 729.6 million, after a cash-out of EUR 551.2 million for the Stone Island transaction.
The Board of Directors also approved the 2021 Consolidated Non-Financial Statement, a separate report from the Financial Statement in accordance with the provisions of Italian Legislative Decree 254/2016. The Declaration which has been prepared in accordance with the Global Reporting Initiative Sustainability Reporting Standards (GRI Standards) while also considering various indicators provided by Sustainability Accounting Standards Board (SASB), describes the main social, environmental and economic activities performed during 2021. It also publicly updates the work in progress on the goals of the 2020-2025 Strategic Sustainability Plan. The 2021 Consolidated Non-Financial Statement will be publicly available on the Group's website within the period required by law.
For additional details on the financial and sustainability results, please refer to the press release published on 24 February 2022 available on the website www.monclergroup.com.
In addition, the Board of Directors has resolved to propose to the Shareholders' Meeting the payment of a dividend for FY 2021 of EUR 0.60 per ordinary share, equal to total dividends of EUR 161.7 million1 , and representing a 41% pay-out ratio on consolidated net income. The dividend will be paid on 25 May 2022 (ex-dividend date 23 May 2022 and record date 24 May 2022).
Finally, the Board of Directors approved the additional documents that will be submitted to the Ordinary Shareholders' Meeting of Moncler called on 21 April 2022 and which will be publicly available within the terms and in the manner of the applicable laws and regulations.
The Group's management also provided to the Board of Directors an update on the current situation in Russia and Ukraine, as reported below.
1 According to the number of entitled shares as of 31 December 2021
With reference to the conflict in Ukraine, Moncler Group's management confirms that in addition to the closure of the store in Kiev, all commercial activities in Russia have also been temporarily suspended. The Group is present in the two countries with dedicated e-commerce, and for the brand Moncler with two directly operated stores (DOS) and three wholesale mono-brand stores (SiS). Moreover, the Group has around 100 multi-brand wholesale doors.
The total exposure to the two countries in FY 2021 – including revenues generated by Russian tourists buying outside Russia – was less than 2% of the Group's revenues. Although the uncertainty regarding the development of the situation and its possible impacts on global economies remains very high, significant consequences on FY 2022 results are currently not foreseen.
With regard to its supply chain, Moncler Group specifies that it does not purchase raw materials in Ukraine or Russia, nor use third-parties producers based there. The direct production site located in Bacau, Romania, and all third-party manufacturers based in neighboring areas are operating without any disruption due to the conflict in Ukraine. Moreover, whilst at logistics level the current situation could have an impact on the transportation systems and might lead to delays in the shipments of goods, there are currently no significant issues. Regarding the rising of the production costs, not only linked to the geopolitical situation, and to the potential increase in logistics costs, the Group confirms that as of today it does not expect any impact on profitability for FY 2022.
In Russia and Ukraine, Moncler employs 19 people with whom it is in constant contact to ensure all necessary support is being provided. In particular, with regards to its employees in Ukraine that have decided to leave the country, the Group is providing economic and organizational aids.
The Moncler Group also supports UNHCR, the United Nations High Commissioner for Refugees which protects and assists refugees around the world, and other organizations active in the area.
Paola Durante Moncler Group Strategic Planning, Intelligence and Investor Relations Director Tel. +39 02 42203560 [email protected]
Alice Poggioli Moncler Group Investor Relations Senior Manager Tel. +39 02 42203658 [email protected]
Carlotta Fiorani Moncler Group Investor Relations Tel. +39 02 42203569 [email protected]
Moncler Group Press Office Tel. +39 02 42203528 [email protected]
With its brands Moncler and Stone Island, the latter acquired in March 2021, Moncler Group represents the expression of a new concept of luxury. True to its philosophy "Beyond Fashion, Beyond Luxury", the Group strategy is centered on experience, a strong sense of purpose and belonging to a community while taking inspiration from the worlds of art, culture, music, and sports. Alongside supporting the individual brands sharing corporate services and knowledge, Moncler Group aims to maintain its brands' strong independent identities based on authenticity, constant quest for uniqueness, and formidable ties with their consumer's communities. Operating in all key international markets, the Group distributes its brands' collections in more than 70 countries through directly operated physical and digital stores as well as selected multi-brand doors, department stores and e-tailers.
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