Half Year 2024 Moncler SpA Earnings Call Transcript
Key Points
- Moncler SpA (MONRF) reported a strong 11% increase in group revenues for the first half of 2024, surpassing the EUR1 billion mark.
- The company achieved a notable operating profit exceeding EUR250 million, with an EBIT margin of 21%, up from 19.2% last year.
- Net income rose to EUR181 million, and the net cash position improved significantly to EUR846 million compared to EUR471 million in June 2023.
- Moncler brand's strategic initiatives, such as collaborations with iconic artists and designers, have enhanced brand visibility and engagement.
- The DTC channel showed robust growth, with a 19% increase in revenues during H1 2024, driven by strong performance across all regions, particularly EMEA.
- Stone Island's revenues declined by 5% in H1 2024, with a notable 24% decrease in the wholesale channel.
- The Americas region experienced a 1% decline in Q2, impacted by challenges in the wholesale channel and department stores.
- Korea and the rest of APAC showed softer trends, affecting overall growth in the Asia region.
- Online business performance was weaker in Q2 compared to Q1, with volatility and promotional activities affecting conversion rates.
- The wholesale channel faced ongoing challenges, with a high single-digit decrease expected for the second half of the year.
Good evening. This is the Chorus Call conference operator. Welcome, and thank you for joining the Moncler first-half 2024 financial results conference call. (Operator Instructions)
At this time, I would like to turn the conference over to Ms. Elena Mariani, Strategic Planning and Investor Relations Director of Moncler. Please go ahead, madam.
Good evening, everybody, and thank you for joining our call today on Moncler Group's first-half 2024 financial results. As usual, let me introduce you to the speakers of today's call. Besides myself, you have Gino Fisanotti, Moncler Chief Brand Officer; Roberto Eggs, the Chief Business Strategy and Global Market Officer; and Luciano Santel, Chief Corporate and Supply Officer.
Before starting, I need to remind you that this presentation may contain certain statements that are neither reported financial results nor other historical information. Any forward-looking statements are based on group current expectations and
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