Moncler delivers “strong” 2014
- FY net income reaches EUR130.3m (US$143m)
- Gross margin widens to 72.3%
- Revenues grow 20%
Moncler achieved double-digit growth in revenues and profits
Italian luxury fashion group Moncler delivered a “strong” performance in 2014 with double-digit sales growth in all its international markets and improved earnings and gross margin.
For the 12 months to the end of December, net income reached EUR130.3m (US$143m) from EUR76.1m a year earlier. The 2013 figure included losses from discontinued operations of EUR16m.
Consolidated gross margin widened to 72.3% compared to 71.3% in 2013, primarily due to growth in the retail channel.
Revenues grew 20% to EUR694.2m from EUR580.6m a year earlier, with double-digit growth in all of Moncler's international markets. Sales were up 21% at constant exchange rates.
In particular, the company achieved 42% growth at current and constant exchange rates in the Americas. This was driven by both the retail channel, including six new openings during the year, and the wholesale channel.
CEO Remo Ruffini, said: “We are proud to have delivered a strong performance in 2014 with Moncler again achieving double-digit growth in both revenues and profits and generating a significant level of cash.
“I have confidence in our growth despite the persistence of a number of uncertainties in the world. Moncler brand perception has become stronger in all the markets in which we operate, we are
focusing on excellence in all what we do, starting from our products, and we are continuing our project to develop a network of top quality retail stores.”
The group is forecasting a scenario of increased revenues and profits in 2015, based on growth on international markets, with the aim of consolidating the “more mature” markets; developing its retail network, with an increased focus on the North American, Japanese and South East Asian markets; and reinforcement of brand equity using initiatives based on company heritage.
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