Moncler SpA reported sales grew 48 percent in the first half, boosted by double-digit growth for the Moncler brand and the acquisition of Stone Island.
Sales reached €918.4 million compared with €621.8 million in the first half of 2021. On a currency-neutral basis, sales were up 46 percent year over year and 62 percent compared with the first half of 2019.
Moncler brand revenues reached €724.3 million, up 27 percent on a currency-neutral basis compared with the first half of 2021 and ahead 28 percent on a currency-neutral basis on the same period of 2019. The Moncler brand continued the strong double-digit growth seen in the first quarter in the second quarter, up 23 percent on a currency-neutral basis compared with the same period of the previous year and 30 percent on a currency-neutral basis compared with the second quarter of 2019.
Stone Island brand revenues were €194.1 million in the first half of 2022, up 33 percent on a currency-neutral basis compared with the first half of 2021 on a pro-forma basis since the Stone Island consolidation occurred on April 1, 2021. In the second quarter, Stone Island’s sales were up 35 percent on a currency-neutral basis compared with the same period of the previous year, driven by a solid growth in all regions.
EBIT for the company reached €180.2 million with a margin on revenues of 19.6 percent compared with €92.82 million with a margin of 14.9 percent in the first half of 2021.
Net profits were €211.3 million compared with €58.7 million in the first half of 2021, including also the extraordinary tax benefit of €92.3 million for the Stone Island brand tax value realignment.
Remo Ruffini, chairman and chief executive officer of Moncler SpA, commented: “Even though the first half of the year was marked by strong macroeconomic and geopolitical instability, we have exceeded our expectations, reaching 918 million euros in revenues and growth of a 46 percent at constant exchange rates. We also reported great operating margins along with solid economic and financial indicators, driven by the contribution of both brands, Moncler and Stone Island. While the overall context remains uncertain and volatile, we head into our most important part of the year with confidence, underpinned by our strategy and the operational flexibility that has always made us stand out, together with a financial solidity and a clear vision oriented towards the continuous strengthening of the Brands. This year also marks two important anniversaries: 70 years for Moncler and 40 years for Stone Island. In the upcoming months, we are preparing to celebrate our heritage with a range of dedicated initiatives and various projects for the years to come, always maintaining an awareness that there is no future without a past, and that the past alone is not enough to ensure a bright future.”