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Moncler
Investor Presentation • Oct 24, 2019
4110_rns_2019-10-24_2e2097ea-d978-4111-aeea-c26ca8a85da2.pdf
Investor Presentation
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Compused and the
2019 Interim Management Statement
রে কেন্দ্রে করে তার করে আর করে আর করে আর করে আর করে আর করে আমাকে আমাকে আমাকে আমাকে আমাকে আমাকে আমাকে আমার করে আমাকে আমাকে আমাকে আমার করে আমাকে আমার করে আমাকে আমার করে আমাকে
のある意義 なんて
HO
CELLE Quality is at the heart of everything Moncler does
COMMITMENT TO PEOPLET
People are Moncler's greatest asset: their future is Moncler's future, we are committed to their development
RESPONSIBILITY Long-term value creation can only be driven by respect and responsible behaviour
AMBITION Moncler never stops innovating and seeking to s new challenging standards
CONSOLIDATED REVENUES
EUR 995.3M. +12% AT CONSTANT EXCHANGE RATES (+14% REPORTED)
WITH DOUBLE-DIGIT GROWTH IN INTERNATIONAL MARKETS
REVENUE BREAKDOWN
RETAIL AT EUR 690.4M, +13% AT CONSTANT EXCHANGE RATES (+16% REPORTED)
WHOLESALE AT EUR 304.9M, +9% AT CONSTANT EXCHANGE RATES (+11% REPORTED)
DIRECTLY OPERATED STORES
199 RETAIL MONO-BRAND STORES (DOS)
AS OF 30 SEPTEMBER 2019
3 NET OPENINGS IN Q3 2019
SHOP-IN-SHOPS
62 WHOLESALE MONO-BRAND STORES (SIS) AS OF 30 SEPTEMBER 2019 2 NET OPENINGS IN Q3 2019
Moncler recorded 12% growth in the first nine months of 2019, with a double-digit
Retail revenues rose by 13% in the first nine months (+12% in Q3), driven by organic growth and new space
• Online continued to outperform
increase also in Q3 (+10%)
Wholesale revenues rose 9% in the first nine months (+6% in Q3), driven by the strong reception of the Fall/Winter 2019 collections, Moncler Genius and the expansion of the mono-brand stores network
REVENUE ANALYSIS (Eur M)
Moncler's revenues recorded sound YoY Growth YoY Growth Reported Const. FX growth in all regions also in Q3 2019 +14% +12% 995.3 Italy's growth continued (+4% in Q3) driven by the retail channel 872.7 159.3 +15% +10% EMEA revenues rose by a solid 7% in the 138.3 third quarter with positive contribution from both distribution channels 403.1 +19% +15% 339.1 Asia & RoW registered strong results also in Q3 (+15%), notwithstanding the ongoing challenges in Hong Kong 302.4 +11% +11% 272.5 Americas delivered double-digit performance in 9M and Q3 (+10%), driven by good growth in all core markets +6% +6% 122.8 130.6 9M 2018 9M 2019 Americas 16% | 14% 16% | 13% Asia & RoW E EMEA 30% 31% l Italy 39% 41%
REVENUE ANALYSIS (Eur M)
EMEA (including Italy) registered a solid 10% growth in the first nine months of 2019
Germany outperformed in Q3, with double-digit growth in both channels
Northern Europe also registered strong results also driven by the good performance of the newly opened stores
Italy continued to post solid growth notwithstanding the ongoing wholesale doors reduction
YoY Growth YoY Growth Reported Const. FX +14% +12% 995.3 872.7 +15% +10% 159.3 138.3 403.1 +19% +15% 339.1 302.4 +11% +11% 272.5 +6% +6% 122.8 130.6 9M 2018 9M 2019 Americas 14% 16% 13% 16% Asia & RoW E EMEA 31% 30% l Italy 39% 41%
REVENUE ANALYSIS (Eur M)
Asia & RoW continued to report doubledigit growth in Q3 2019 (+15%). Japan, Korea and Chinese mainland outperformed
Japan recorded strong performances driven by the organic retail growth
Korea delivered outstanding results, supported by organic growth and newly opened stores
Chinese mainland registered sound double-digit growth also in Q3
Hong Kong results have been severely impacted by the events that occurred during the quarter
The Americas reported a 10% increase in Q3 2019, with the positive contribution of both channels and all core markets
Retail growth has been driven also by the good results of the newly opened Mexican store
Wholesale recorded solid performance in all markets also thanks to the SiS expansion
REVENUE ANALYSIS (Eur M)
Moncler's retail network reached 199 monobrand stores as of 30 September 2019, with 3 openings in Q3 2019
• A further 10 DOS expected to be opened in Q4 2019, of which 4 opened in October
Wholesale mono-brand stores reached 62 locations at the end of September, with 2 net openings in Q3
• An additional 2 new mono-brand locations expected to be opened in Q4
| New (*) | Previous | ||||
|---|---|---|---|---|---|
| 30/09/2018 | 31/12/2018 | 30/09/2019 | 30/09/2019 | ||
| Retail | 190 | 193 | 199 | 229 | |
| ltaly | 19 | 20 | 19 | 22 | |
| Rest of EMEA | 53 | 55 | 54 | 64 | |
| Asia & ROW | 91 | 91 | 97 | 112 | |
| Americas | 26 | 27 | 29 | 31 | |
| 30/09/2018 | 31/12/2018 | 30/09/2019 | 30/09/2019 | ||
| Wholesale | 51 | 55 | 62 | 83 |
VENICE
Appendix
QUARTERLY REVENUE BREAKDOWN BY REGION AND CHANNEL
| Q1 | YoY growth | Q2 | YoY growth | H1 | YoY growth | 03 | YoY growth | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Eur m | 2019 | 2018 | Rep. | ex FX | 2019 | 2018 | Rep. | ex FX | 2019 | 2018 | Rep. | ex FX | 2019 | 2018 | Rep. | ex FX |
| ltaly | 45.8 | 43.3 | +6% | +6% | 22.7 | 20.1 | +13% | +13% | 68.5 | 63.3 | +8% | +8% | 62.1 | 59.5 | +4% | +4% |
| EMEA (excl. Italy) | 108.1 | 96.5 | +12% | +12% | 60.8 | 50.4 | +21% | +21% | 168.9 | 147.0 | +15% | +15% | 133.5 | 125.5 | +6% | +7% |
| Asia & RoW | 171.1 | 146.4 | +17% | +12% | 78.2 | 64.0 | +22% | +22% | 249.3 | 210.4 | +18% | +15% | 153.7 | 128.7 | +19% | +15% |
| Americas | 53.5 | 45.8 | +17% | +9% | 30.0 | 27.0 | +11% | +6% | 83.6 | 72.8 | +15% | +8% | 75.7 | 65.4 | +16% | +10% |
| Total Revenues | 378.5 | 332.0 | +14% | +11% | 191.7 | 161.5 | +19% | +18% | 570.2 | 493.5 | +16% | +13% | 425.0 | 379.1 | +12% | +10% |
| Q1 | YoY growth a | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Eur m | 2019 2018 Rep. exFX 2019 2018 Rep. exFX 2019 2018 Rep. exFX 2019 2018 Rep. extFX | |||||||||||||||
| Retail | 291.4 | 225.2 +14% +10% 145.6 120.6 +20% | ||||||||||||||
| Wholese | ||||||||||||||||
| Total Revenues |
QUARTERLY REVENUE BREAKDOWN BY REGION AND CHANNEL
| Eur m | Q1 | YoY growth | Q2 | YoY growth | 03 | YoY growth | Q4 | YoY growth | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2018 | 2017 | Rep. | ex FX | 2018 | 2017 | Rep. | ex FX | 2018 | 2017 | Rep. | ex FX | 2018 | 2017 | Rep. | ex FX | |
| ltaly | 43.3 | 39.2 | +10% | +10% | 20.1 | 19.0 | +5% | +5% | 59.5 | 55.7 | +7% = | +7% | 45.0 | 35.5 | +27% | +27% |
| EMEA (excl. Italy) | 96.5 | 82.9 | +16% | +18% | 50.4 | 44.5 | +13% | +15% | 125.5 | 112.9 | +77% | +13% | 135.2 | 112.0 | +21% | +22% |
| Asia & RoW | 146.4 | 115.2 | +27% | +39% | 64.0 | 44.4 | +44% | +47% | 128.7 | 97.5 | +32% | +36% | 277.1 | 238.3 | +16% | +16% |
| Americas | 45.8 | 38.9 | +18% | +34% | 27.0 | 23.5 | +15% | +22% | 65.4 | 63.0 | +4% | +10% | 90.2 | 71.1 | +27% | +26% |
| Total Revenues | 332.0 | 276.2 | +28% | 161.5 | 131.4 | +26% | 379.1 | 329.1 | +15% | +18% | 547.5 | 456.9 | +20% | |||
| Q1 | YoY growth | Q4 | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Eur m | 2018 2017 Rep. ex FX 2018 2017 Rep. ex FX | |||||||||||||||
| Retail | 256.2 | 203.9 | +26% +35% 120.6 95.5 +26% 220.4 178.3 | |||||||||||||
| Wholesale | 72.3 - 72.3 | +5% = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = | 49% | |||||||||||||
| Total Revenues |
SHAREHOLDING
- Ruffini Partecipazioni S.r.l. 25.4% =
- D 5.4% BlackRock Inc.
- D 3.0% Invesco Ltd.
- Morgan Stanley Asia Limited = 3.0%
- 2.2% Treasury Shares
- 61.0% Market
Source: Consob, Moncler Last update: October 2019 Investor Relations Team [email protected]
Paola Durante Strategic Planning, Intelligence and IR Director [email protected]
Alice Poggioli Investor Relations Manager [email protected]
Carlotta Fiorani Investor Relations [email protected]
This presentation is being furnished to you solely for your information and may not be reproduced or redistributed to any other person.
This presentation might contain forward-looking statements that reflect the Company's management's current views with respect to future events and financial and operational performance of the Company and its subsidiaries. These forward-looking statements are based on Moncler's current expectations about future events. Because these forward-looking statements are subject to risks and future results or performance may differ materially from those expressed in or implied by these statements due to any number of different factors, many of which are beyond the ability of Moncler to control or estimate. You are cautioned not to place undue reliance on the forward-looking statements contained herein, which are made only as of this presentation. Moncler does not undertake any obligation to publicly release any updates or revisions to any forward-looking statements to reflect events or circumstances after the date of this presentation.
Any reference to past performance or trends or activities of Moncler shall not be taken as a representation or indication that such performance, trends or activities will continue in the future.
This presentation does not constitute an offer to sell or the solicitation of an offer to buy the Group's securities, nor shall the document form the basis of or be relied on in connection with any contract or investment decision relating thereto, or constitute a recommendation regarding the securities of Moncler.
Moncler's securities referred to in this document have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Luciano Santel, the Manager in charge of preparing the corporate accounting documents, declares that, pursuant to art. 154-bis, paragraph 2, of the Legislative Decree no. 58 of February 24, 1998, the accounting information contained herein correspond to document results, books and accounting records.