Yahoo Sports Moncler Group Provides Trading Update in Light of Geopolitical Situation
MILAN — The Moncler Group provided an update on the current geopolitical situation on Wednesday as the board approved its financial statements for the year 2021.
Referring to the Russian invasion of Ukraine, the group stated that, in addition to the closure of its store in Kyev, all commercial activities in Russia have been temporarily suspended.
More from WWD
The group is present in the two countries with a dedicated e-commerce site, and for the Moncler brand with two directly operated stores and three wholesale monobrand stores. In addition, there are around 100 multibrand wholesale doors.
The total exposure to the two countries last year, including revenues generated by Russian tourists buying around the world, was less than 2 percent of the group’s revenues.
“Although the uncertainty regarding the development of the situation and its possible impacts on global economies remains very high, significant consequences on full-year 2022 results are currently not foreseen,” said the group in a statement issued at the end of trading.
Regarding its supply chain, the company specified that it does not purchase raw materials in Ukraine or Russia, nor does it use third-party producers based there.
It does have a direct production site located in Bacau, Romania, which, with all third-party manufacturers based in neighboring areas, is operating without any disruption.
In Russia and Ukraine, Moncler employs 19 people “with whom it is in constant contact to ensure all necessary support is being provided. In particular, with regards to its employees in Ukraine that have decided to leave the country, the group is providing economic and organizational aids.”
The group is also supporting the United Nations High Commissioner for Refugees, and other organizations active in the area.
The company, which did not report any delay on shipments despite the potential impact of the war, at the moment does not expect any impact on profitability for the full-year 2022 from the rising costs of production and the potential increase in logistics costs.
As reported, the group in 2021 registered revenues that surpassed the 2-billion-euro mark, rising 44 percent compared with 1.4 billion euros in 2020, eight years after its initial public offering.
Compared to 2019, group sales rose 28 percent. In the fourth quarter, sales climbed 40 percent to 868.9 million euros compared with the same period in 2019.
The Moncler brand registered sales of 1.82 billion euros and Stone Island, consolidated since April 1, reported revenues of 221.9 million euros.
Net profit climbed 37 percent to 411.4 million euros, compared with 300.4 million euros in 2020. Compared with 2019, it grew 14.7 percent from 358.7 million euros.
The board also proposed the payment of a dividend of 60 cents per share, amounting to a total of 161.7 million euros.
Sign up for WWD's Newsletter. For the latest news, follow us on Twitter, Facebook, and Instagram.
