Moncler Exceeds Sales and Earnings Expectations in First Half

1 Mins read

Moncler, the renowned Italian luxury-fashion brand famous for its winter puffer jackets, has surpassed expectations with its first-half sales and earnings. Benefitting from a rebound in demand in China after the lifting of pandemic restrictions, the company reported robust financial results.

For the six months ending in June, Moncler recorded earnings before interest and taxes (EBIT) of €217.8 million ($240.8 million), surpassing the €180.2 million figure from the previous year. Net profit amounted to €145.4 million, compared to €211.3 million in the first half of 2019, which included an extraordinary tax benefit associated with the Stone Island brand.

Moncler’s sales saw a remarkable increase of 24%, reaching €1.14 billion. The Moncler brand itself experienced a 29% growth, generating €935 million in revenue, primarily driven by strong performances in the Asian and EMEA regions. Additionally, Stone Island, a brand recently acquired by Moncler, reported a 5% increase in revenue at constant currency, amounting to €201.6 million.

Analysts polled by FactSet had expected sales of €1.12 billion for the first half of the year, while EBIT had been forecasted at €206 million. Reflecting on these impressive results, Chief Executive Remo Ruffini stated, “For the first time in our history, group revenues exceeded the €1 billion mark in the first half of the year.”

These encouraging financial figures demonstrate Moncler’s resilience and success amid challenging circumstances.

Related posts

Banking Regulations for Preventing Failures

2 Mins read
Banking regulators have the power to prevent future bank collapses, according to a panel of banking experts who emphasized the importance of…

Dave's Strong Q4 Performance

1 Mins read
Shares of Dave surged on Tuesday following the digital bank’s announcement of a profitable fourth quarter earlier than expected, with a positive…

DaVita Expands in Latin America

1 Mins read
Shares of DaVita reached record levels as the kidney care services company announced its significant expansion into Latin America through a $300…

Leave a Reply

Your email address will not be published. Required fields are marked *

62 + = 71