Moncler S.p.a Stock Earnings Reports

Moncler reported FY2025 revenue of EUR 3.13 billion with a strong Q4 acceleration (Moncler DTC +7%, Stone Island DTC +16%) and an EBIT margin of 29.2%. Net cash was ~EUR 1.5 billion and free cash flow was EUR 529 million. Key brand momentum came from large campaigns and activations (Warmer Together, Grenoble, Aspen), multiple successful Genius drops and Stone Island’s continuing brand repositioning. Management announced a planned leadership transition: Leo Rongone will join as Group CEO in April while Remo Ruffini will move to Executive Chairman but remain heavily involved in creative and strategic direction. Operational highlights: DTC remained a growth driver, wholesale showed signs of stabilization (Moncler flattish wholesale; Stone Island improving), double-digit growth in APAC in Q4, the Americas and Europe mixed with tourism headwinds. CapEx was ~6.9% of revenues (FY26 target ~6%). Inventories rose (NWC 9.7%) largely due to a deliberate higher purchase of top-quality down to mitigate raw-material volatility. The Board will propose a dividend of EUR 1.4 per share (payout >60%). Management expects a ~4% FX headwind to 2026 top line (c.6% in Q1) but plans low-single-digit price increases (~3%) and will maintain marketing at ~7% of sales. Overall tone: resilient financial performance, continued brand-building investment, disciplined cost and distribution management, and clear strategic priorities for global expansion (notably U.S. focus) while protecting brand DNA.