Moncler reported sales of €1.627 billion for its year ended December 31, up 13 percent at constant exchange rates and 15 percent at current exchange rates.
In the prior year, sales were €1.42 billion. Retail comp-store growth was 7 percent in 2019.
EBITDA on an adjusted basis was €574.8 million against €500.1 billion in 2018. EBITDA margin in the latest year was 35.3 percent.
EBIT came to €475.4 million versus €441.1 million; EBIT margin was 29.2 percent. Under application of IFRS 16, EBIT was €491.8 mm, with a 30.2 percent margin.
Net income was €361.5 million with a margin of 22.2 percent, up 9 percent compared to €332.4 million in 2018. Net earnings were up 16 percent normalizing the Patent Box tax relief. Under application of IRFS 16, net income equaled €358.7 million.
Moncler’s net cash position was €662.6 million as of December 31 compared to €350.4 million a year ago.
Moncler said it continues to post double-digit growth in all regions and distribution channels with stronger economic and financial indicators
Remo Ruffini, chairman and CEO, pictured above, said in a statement, “2019 was another extraordinary year. Revenues grew by 15 percent at current exchange rates, exceeding 1.6 billion euros, with an EBITDA margin above 35 percent, while net cash reached 663 million euros. These are important achievements, which have also been reached due to an organization that has become more agile, flexible and efficient in the past years.
We live in a world of constant and rapid change, which therefore is ever more volatile and uncertain. These days, we stand with our colleagues and with all the people of China who are faced with a challenging situation, for which significant and urgent measures have been taken. I believe that it is exactly in these moments that companies must demonstrate the value of their capacity to promptly react to the changing circumstances. All of this requires commitment, skill, flexibility and, above all, vision.
“Moncler is an ever-evolving company; we never halt while always remaining true to ourselves. We must draw on the collective strengths of our 4,600 employees, who every day and in every corner of the world, at every level, prove to me that Moncler is unique.”
Photo courtesy Moncler