The Italian clothing retailer Moncler SpA closed the first six months of the 2022 financial year with surprisingly strong growth in sales and earnings. “Although the first half of the year was marked by major macroeconomic and geopolitical uncertainties, we exceeded our expectations,” said Chairman and CEO Remo Ruffini in the interim report published on Wednesday.
Consolidated sales of the Moncler Group reached 918.4 million euros in the period from January to June and thus exceeded the corresponding level of the previous year by 48 percent (currency-adjusted +46 percent). Sales of the core brand Moncler grew by 28 percent (currency-adjusted +27 percent) to 724.3 million euros, the Stone Island label, whose sales in the same period of the previous year had only been booked since the takeover was completed on April 1, steered 194.1 million euros at. On a pro forma basis, the brand’s half-year sales increased by 35 percent (+33 percent at constant currency).
Thanks to strong sales growth and a lower operating cost ratio, the group of companies was able to almost double its earnings before interest and taxes (EBIT): It rose from 92.8 to 180.2 million euros (+94 percent). Because the group benefited from a tax credit as part of the revaluation of Stone Island, half-year net income more than tripled. After EUR 58.7 million in the same period of the previous year, it now reached EUR 211.3 million.