Moncler FY16 revenues increase 18 percent
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Management
Luxury outerwear company Moncler reported a sales rise of 18 percent to 1,040.3 million euros (1,098 million dollars) last year at both current and constant exchange rates, which the company said were a result of positive performance of markets such as China, Korea and the United States. Comparable store sales increased 7 percent. In the fourth quarter, revenues were up 25 percent at constant exchange rates. Net income rose 17 percent to 196 million euros (206 million dollars) against 167.9 million euros (177 million dollars) in 2015.
Commenting on the results, Chairman and Chief Executive Remo Ruffini said in a statement that he was convinced the group would continue to grow in 2017. “In the last quarter 0f 2016, Moncler saw double-digit growth in all markets and across all channels, despite uncertain and volatile environment,” he added.
Mocler posts sales rise across geographies
In Asia, Americas and the Rest of the World, turnover rose 23 percent at constant exchange rates. The company said while China and South Korea contributed to the rise in sales in Asia, sales in the Americas were boosted by, retail and wholesale channels as well as new store openings. The Canadian market also posted positive momentum.
Revenues in EMEA region rose 15 percent driven by the performance of the retail channel and new stores opened during the period. Turnover in Italy rose 5 percent due to the performance of directly operated stores and organic growth in the wholesale channel.
At the end of last year the group had 190 directly owned stores, 17 more than at the end of 2015 and 42 wholesale shop-in-shops, 8 units higher than the last year.
The company’s adjusted EBITDA rose 18 percent to 355.1 million euros (374 million dollars) and adjusted EBIT increased 19 percent to 313.4 million euros (330 million dollars). The group said it proposed to pay 0.18 euros (0.19 dollars) per share on the 2016 results, for a total of 45 million euros (47 million dollars).
In brief
Picture:Moncler