Slides
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9M 2025 INTERIM MANAGEMENT STATEMENT
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REMO RUFFINI “As we close the first nine months of the year, we remain focused on executing our strategy with discipline, agility, and a strong sense of direction – aware of the challenges around us, but even more committed to the opportunities ahead. Our recently-launched communication campaign Warmer Together celebrates the values that have defined Moncler for over 70 years – love, connection, and a shared sense of warmth – brought to life through the friendship of two legendary Hollywood icons. These same values come to life in Casa Moncler, our new headquarters and a key milestone in our journey. More than just a space, it is a powerful expression of our culture – where creativity meets innovation, and where our people come together with strong energy and a deep sense of belonging to shape the future of our brand. In a world that continues to evolve, we stay true to who we are – acting with responsibility, leading with intention, never compromising the long-term value of our brands for short-term results. ” 28 OCTOBER 20259M 2025 INTERIM MANAGEMENT STATEMENT 2
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MONCLER GROUP | 9M 2025 REVENUES HIGHLIGHTS (1) 3 GROUP REVENUES 9M 2025 EUR 1,841.3m (0%) Q3 2025 EUR 615.6m (-1%) MONCLER REVENUES 9M 2025 EUR 1,553.2m (0%) Q3 2025 EUR 514.2m (-1%) STONE ISLAND REVENUES 9M 2025 EUR 288.1m (-1%) Q3 2025 EUR 101.4m (0%) GROWTH AT CFX YOY 28 OCTOBER 20259M 2025 INTERIM MANAGEMENT STATEMENT (1) This applies to all pages of this presentation if not otherwise stated: comments at constant FX rates, rounded figures.
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THE NEW MONCLER.COM ------------- --------------------------- ------------- -------- Moncler unveiled the redesigned Moncler.com, evolving from a point of distribution into a brand destination where product truly takes center stage, powered by Google Generative AI. Every detail – design, imagery, content and experience – has been reimagined to showcase what makes each piece unique. Product pages now unfold like stories, inviting the community to discover, explore, and connect with the world of Moncler in an immersive and intuitive way. MONCLER X A$AP ROCKY ------------- --------------------------- ------------- -------- Moncler x A$AP Rocky sees the multi-hyphenate artist, creative director, and founder of AWGE fuse the rebellious attitude and experimental energy of his music into a high-octane Genius collection debut. Inspired by vintage ski garments, a bold color - block palette of lava red, electric indigo, and bright emerald pops against black and white pieces. Playful practicality is the name of the game, as utility becomes a design feature. Graphics make a bold statement, with ‘Don’t Be Dumb’, the title of Rocky’s new album, emblazoned on back patches. MONCLER X EE72 BY EDWARD ENNINFUL - --------------------------- ------------- --------------------- For his debut Genius collection, iconic editor, stylist, and cultural contributor Edward Enninful envisioned the wardrobe for a fashionable global adventurer: a bold hero equipped to navigate extreme terrains, from sun-scorched dunes to windswept shores and snow -capped peaks. Each look was designed to be adaptable, functional, and layerable, allowing for seamless transitions between climates, creating not just a core wardrobe, but also essential accessories. MONCLER COLLECTION PRE- FALL 2025 ----------------------------------- ---- --------------------- The Pre-Fall 2025 edition starred Brooklyn and Nicola Peltz Beckham. Featuring looks that exemplify the metropolitan sophistication and elegant minimalism of the collection, the campaign framed the couple in scenic London neighborhoods, portraying their natural warmth, connection and spontaneity in designs made to keep pace with their dynamic everyday lives. Fabric research is key to achieve ultra-luxe layers, and easy layering options abound in a versatile color palette. MONCLER | Q3 HIGHLIGHTS 28 OCTOBER 2025 49M 2025 INTERIM MANAGEMENT STATEMENT
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STONE ISLAND 9M 2025 INTERIM MANAGEMENT STATEMENT 5 Q3 HIGHLIGHTS AUTUMN_WINTER ‘025 -‘026 COLLECTION Stone Island unveiled the next chapter of its 'Community as a Form of Research' project with the AW ‘025-’026 collection. This ongoing collaboration between Stone Island and members of the brand’s multifaceted community highlights the organic nature of Stone Island’s global appeal rooted in passion for product design and material innovation. This iteration again featured a diverse cast of individuals who are invited to put their own stamp on the collection’s signature items, combining strength of character with strength of design. The campaign was again photographed by David Sims and styled by Max Pearmain , with creative direction by Ferdinando Verderi. Shot against Stone Island’s iconic white background, the portraits give the participants and the garments center stage. STONE ISLAND | NEW BALANCE 574 GHOST----------------------------------- Stone Island and New Balance presented the next chapter in a long- term partnership rooted in innovation, material research and forward- thinking design. The release revisited the New Balance 574 in three monochrome colourways inspired by the ethos of Stone Island Ghost sub-collection, which the launch complemented. The 574 is reimagined in a fully monochromatic suede construction for the first time, evoking the concept of camouflage. 28 OCTOBER 2025
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MONCLER | REVENUES BY GEOGRAPHY MONCLER REVENUES (EUR M; CFX GROWTH %) 9M 2025 Moncler brand revenues reached EUR 1,553.2m, flat vs 9M 2024. Q3 revenues were down 1% YoY, with both the DTC (1) and the wholesale channels slightly improving sequentially. ASIA (which includes APAC, Japan and Korea) was flat in Q3 YoY, in line with the previous quarter. China continued to outperform the rest of the region, while Japan and Korea registered a weaker performance. EMEA revenues were down 4% in Q3 YoY, improving vs Q3. Tourism flows remained subdued in the region, and below last year levels, albeit slightly improving compared with the previous quarter. The AMERICAS was up 5% in Q3 YoY, supported by double-digit growth in the DTC channel, partly offset by the negative performance of the wholesale channel. 750.8 752.6 603.4 581.0 219.1 219.6 9M 2024 9M 2025 1,573.3 1,553.2 0% 237.8 226.9 222.8 215.5 71.4 71.8 Q3 2024 Q3 2025 532.0 514.2 (1%) % on total +5% 0% +2% +3% Q3 9M Americas EMEA Asia (4%) (4%) 45% 42% 13% 44% 42% 14% 48% 38% 14% 48%37% 14% 628 OCTOBER 20259M 2025 INTERIM MANAGEMENT STATEMENT (1) The Direct -to Consumer (DTC) channel includes revenues from DOS, direct online and e- concessions.
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MONCLER | REVENUES BY CHANNEL MONCLER REVENUES (EUR M; CFX GROWTH %) Moncler DTC revenues rose to EUR 1,255.4m in 9M 2025, +1% vs 9M 2024. In Q3, DTC revenues were flat YoY, slightly improving sequentially despite ongoing macroeconomic headwinds and subdued consumer sentiment. The Americas and China outperformed the other regions, while EMEA and Japan underperformed, mainly affected by weak tourism flows. WHOLESALE revenues reached EUR 297.8m in 9M 2025, down 5% vs 9M 2024. In Q3, the most significant one for this channel in the year, wholesale revenues declined by 4% YoY, improving sequentially, albeit continuing to be impacted by the ongoing efforts to upgrade the quality of the distribution through further network optimisation. 1,260.0 1,255.4 313.2 297.8 9M 2024 9M 2025 1,573.3 1,553.2 0% 384.3 372.3 147.7 142.0 Q3 2024 Q3 2025 532.0 514.2 (1%) % on total (4%) 28% 72% 28% 72% 0% (5%) +1% 20% 80% 19% 81% Wholesale DTC Q3 9M 728 OCTOBER 20259M 2025 INTERIM MANAGEMENT STATEMENT
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68.1 74.2 203.9 196.2 20.5 17.7 9M 2024 9M 2025 292.4 288.1 (1%) STONE ISLAND | REVENUES BY GEOGRAPHY STONE ISLAND REVENUES (EUR M; CFX GROWTH %) 9M 2025 Stone Island brand revenues reached EUR 288.1m, -1% vs 9M 2024. Q3 revenues were flat YoY, negatively impacted by a different timing of wholesale deliveries Q3 vs Q4 compared with the same period of 2024, compensated by a solid DTC performance. ASIA (which includes APAC, Japan and Korea) was up 9% YoY in Q3, mainly driven by the continued solid performance of China and Japan. EMEA revenues were down 3% YoY in Q3, with the strong performance of the DTC channel that was more than offset by the negative performance of the wholesale channel. The AMERICAS was down 3% YoY in Q3, with both the wholesale and the DTC channels improving sequentially. 21.4 21.9 75.0 72.9 7.1 6.6 Q3 2024 Q3 2025 103.6 101.4 0% Americas EMEA Asia (3%) +9% (11%) +13% % on total 21% 72% 7% 72% 6% 22% 68% 6% 26% (3%) (4%) Q3 9M 70% 7% 23% 828 OCTOBER 20259M 2025 INTERIM MANAGEMENT STATEMENT
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135.7 145.1 156.7 143.0 9M 2024 9M 2025 292.4 288.1 (1%) STONE ISLAND | REVENUES BY CHANNEL STONE ISLAND REVENUES (EUR M; CFX GROWTH %) Stone Island DTC revenues rose to EUR 145.1m in 9M 2025, +9% vs 9M 2024. In Q3, revenues in this channel were up 11% YoY, driven by a solid performance in Asia and EMEA. WHOLESALE revenues reached EUR 143.0m in 9M 2025, down 9% vs 9M 2024. In Q3, revenues declined by 8% YoY, entirely due to a different timing of deliveries Q3 vs Q4 compared with last year, while the Group continued its efforts to improve the quality of the distribution network. 43.1 46.0 60.5 55.4 Q3 2024 Q3 2025 103.6 101.4 0% Wholesale DTC (8%) +11% (9%) +9% 42% 58% 45%55% 46%54% 50%50% % on total Q3 9M 928 OCTOBER 20259M 2025 INTERIM MANAGEMENT STATEMENT
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GROUP MONO -BRAND STORE NETWORK MONCLER: 294 STONE ISLAND: 92 30.09.2025 30.06.2025 31.12.2024 MONCLER STONE ISLAND MONCLER STONE ISLAND MONCLER STONE ISLAND ASIA 145 54 144 55 143 56 EMEA 98 31 96 29 96 27 AMERICAS 51 7 47 7 47 7 RETAIL 294 92 287 91 286 90 WHOLESALE 49 11 54 11 56 9 1028 OCTOBER 20259M 2025 INTERIM MANAGEMENT STATEMENT
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MONCLER AUSTIN 11 28 OCTOBER 20259M 2025 INTERIM MANAGEMENT STATEMENT
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MONCLER BEIJING SKP MAN 12 28 OCTOBER 20259M 2025 INTERIM MANAGEMENT STATEMENT
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STONE ISLAND NEW YORK FLAGSHIP 13 28 OCTOBER 20259M 2025 INTERIM MANAGEMENT STATEMENT
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APPENDIX 1428 OCTOBER 20259M 2025 INTERIM MANAGEMENT STATEMENT
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H1 2025 H1 2024 H2 2024 H1 2023 H2 2023 FY 2024 FY 2023 EUR m % EUR m % EUR m % EUR m % EUR m % EUR m % EUR m % REVENUES 1,225.7 100.0% 1,230.2 100.0% 1,878.8 100.0% 1,136.6 100.0% 1,847.6 100.0% 3,108.9 100.0% 2,984.2 100.0% YoY performance 0% +8% +2% +24% +10% +4% +15% GROSS PROFIT 941.9 76.9% 943.1 76.7% 1,483.5 79.0% 851.0 74.9% 1,449.8 78.5% 2,426.6 78.1% 2,300.8 77.1% Selling (429.5) (35.0%) (419.3) (34.1%) (518.1) (27.6%) (374.7) (33.0%) (493.3) (26.7%) (937.3) (30.2%) (868.1) (29.1%) G&A (170.4) (13.9%) (166.3) (13.5%) (185.3) (9.9%) (156.9) (13.8%) (174.3) (9.4%) (351.7) (11.3%) (331.2) (11.1%) Marketing (117.3) (9.6%) (98.8) (8.0%) (122.4) (6.5%) (101.6) (8.9%) (106.1) (5.7%) (221.2) (7.1%) (207.7) (7.0%) EBIT 224.8 18.3% 258.7 21.0% 657.7 35.0% 217.8 19.2% 676.0 36.6% 916.3 29.5% 893.8 30.0% Net financial income / (expenses) (6.5) (0.5%) (1.6) (0.1%) (5.0) (0.3%) (11.3) (1.0%) (11.9) (0.6%) (6.5) (0.2%) (23.2) (0.8%) EBT 218.3 17.8% 257.1 20.9% 652.7 34.7% 206.5 18.2% 664.2 35.9% 909.8 29.3% 870.6 29.2% Taxes (64.8) (5.3%) (76.4) (6.2%) (193.9) (10.3%) (61.1) (5.4%) (197.6) (10.7%) (270.2) (8.7%) (258.7) (8.7%) Tax rate 29.7% 29.7% 29.7% 29.6% 29.8% 29.7% 29.7% GROUP NET RESULT 153.5 12.5% 180.7 14.7% 458.9 24.4% 145.4 12.8% 466.6 25.3% 639.6 20.6% 611.9 20.5% YoY performance (15%) +24% (2%) (31%) +18% +5% +1% 2023-2025 HALF -YEAR INCOME STATEMENT 1528 OCTOBER 20259M 2025 INTERIM MANAGEMENT STATEMENT
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Q1 25 vs 24 Q2 25 vs 24 Q3 25 vs 24 EUR m 2025 2024 cFX 2025 2024 cFX 2025 2024 cFX MONCLER 721.8 705.0 2% 317.2 336.3 (2%) 514.2 532.0 (1%) STONE ISLAND 107.3 113.0 (5%) 79.4 75.9 +6% 101.4 103.6 0% GROUP TOTAL 829.0 818.0 1% 396.6 412.2 (1%) 615.6 635.5 (1%) Q1 25 vs 24 Q2 25 vs 24 Q3 25 vs 24 EUR m 2025 2024 cFX 2025 2024 cFX 2025 2024 cFX DTC 630.5 608.5 4% 252.7 267.3 (1%) 372.3 384.3 0% WHOLESALE 91.3 96.5 (5%) 64.5 69.0 (6%) 142.0 147.7 (4%) MONCLER 721.8 705.0 2% 317.2 336.3 (2%) 514.2 532.0 (1%) ASIA 380.8 362.6 6% 145.0 150.4 0% 226.9 237.8 0% EMEA 244.3 245.9 (1%) 121.1 134.6 (8%) 215.5 222.8 (4%) AMERICAS 96.7 96.4 (2%) 51.1 51.3 5% 71.8 71.4 5% MONCLER 721.8 705.0 2% 317.2 336.3 (2%) 514.2 532.0 (1%) Q1 25 vs 24 Q2 25 vs 24 Q3 25 vs 24 EUR m 2025 2024 cFX 2025 2024 cFX 2025 2024 cFX DTC 55.3 49.4 12% 43.9 43.2 3% 46.0 43.1 11% WHOLESALE 52.0 63.6 (19%) 35.6 32.6 9% 55.4 60.5 (8%) STONE ISLAND 107.3 113.0 (5%) 79.4 75.9 6% 101.4 103.6 0% ASIA 31.2 27.4 15% 21.1 19.3 13% 21.9 21.4 9% EMEA 69.4 77.7 (11%) 53.8 51.2 5% 72.9 75.0 (3%) AMERICAS 6.6 8.0 (18%) 4.5 5.4 (11%) 6.6 7.1 (3%) STONE ISLAND 107.3 113.0 (5%) 79.4 75.9 6% 101.4 103.6 0% 2025 REVENUES QUARTERLY PERFORMANCE 1628 OCTOBER 20259M 2025 INTERIM MANAGEMENT STATEMENT
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Q1 25 vs 24 H1 25 vs 24 9M 25 vs 24 EUR m 2025 2024 cFX 2025 2024 cFX 2025 2024 cFX MONCLER 721.8 705.0 2% 1,039.0 1,041.3 1% 1,553.2 1,573.3 0% STONE ISLAND 107.3 113.0 (5%) 186.7 188.9 (1%) 288.1 292.4 (1%) GROUP TOTAL 829.0 818.0 1% 1,225.7 1,230.2 1% 1,841.3 1,865.7 0% Q1 25 vs 24 H1 25 vs 24 9M 25 vs 24 EUR m 2025 2024 cFX 2025 2024 cFX 2025 2024 cFX DTC 630.5 608.5 4% 883.2 875.7 2% 1,255.4 1,260.0 1% WHOLESALE 91.3 96.5 (5%) 155.8 165.5 (6%) 297.8 313.2 (5%) MONCLER 721.8 705.0 2% 1,039.0 1,041.3 1% 1,553.2 1,573.3 0% ASIA 380.8 362.6 6% 525.7 513.0 4% 752.6 750.8 3% EMEA 244.3 245.9 (1%) 365.4 380.6 (3%) 581.0 603.4 (4%) AMERICAS 96.7 96.4 (2%) 147.9 147.7 1% 219.6 219.1 2% MONCLER 721.8 705.0 2% 1,039.0 1,041.3 1% 1,553.2 1,573.3 0% Q1 25 vs 24 H1 25 vs 24 9M 25 vs 24 EUR m 2025 2024 cFX 2025 2024 cFX 2025 2024 cFX DTC 55.3 49.4 12% 99.1 92.6 8% 145.1 135.7 9% WHOLESALE 52.0 63.6 (19%) 87.6 96.3 (9%) 143.0 156.7 (9%) STONE ISLAND 107.3 113.0 (5%) 186.7 188.9 (1%) 288.1 292.4 (1%) ASIA 31.2 27.4 15% 52.3 46.7 14% 74.2 68.1 13% EMEA 69.4 77.7 (11%) 123.3 128.9 (5%) 196.2 203.9 (4%) AMERICAS 6.6 8.0 (18%) 11.1 13.3 (15%) 17.7 20.5 (11%) STONE ISLAND 107.3 113.0 (5%) 186.7 188.9 (1%) 288.1 292.4 (1%) 2025 REVENUES YTD PERFORMANCE 1728 OCTOBER 20259M 2025 INTERIM MANAGEMENT STATEMENT
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FINANCIAL CALENDAR , SHAREHOLDING, IR CONTACTS IR CONTACTS investor.relations@moncler.com ELENA MARIANI Moncler Group Strategic Planning and Investor Relations Director elena.mariani@moncler.com GAIA PICCOLI Moncler Group Strategic Planning and Investor Relations Senior Manager gaia.piccoli@moncler.com FINANCIAL CALENDAR 19.02.2026 FY 2025 Consolidated Financial Results 21.04.2026 Q1 2026 Interim Management Statement 22.07.2026 H1 2026 Financial Results 21.10.2026 9M 2026 Interim Management Statement (1) Last update 25.09.2025. Source Consob. SHAREHOLDING (1) % N. SHARES (M) Double R S.r.l. 18.2% 50.1 Morgan Stanley 8.6% 23.6 Capital Research and Management Company 5.2% 14.3 BlackRock Inc. 5.0% 13.7 Venezio Investments Pte. Ltd. 4.5% 12.4 Treasury Shares 1.2% 3.2 Other Shareholders 57.3% 157.5 TOTAL 100.0% 274.8 1828 OCTOBER 20259M 2025 INTERIM MANAGEMENT STATEMENT
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DISCLAIMER This presentation is being furnished to you solely for your information and may not be reproduced or redistributed to any oth er person. This presentation might contain certain forward- looking statements that reflect the Company’s management’s current views with respect to future events and financial and operational performance of the Company and its subsidiaries. These forward-looking statements are based on Moncler’s current expectations and projections about future events. Because these forward -looking statements are subject to risks and uncertainties, actual future results or performance may differ materially from those expressed in or implied by these statements due to any number of different factors, many of which are beyond the ability of Moncler to control or estimate. You are cautioned not to place undue reliance on the forward- looking statements contained herein, which are made only as of the date of this presentation. Moncler does not undertake any obligation to publicly release any updates or revisions to any forward- looking statements to reflect events or circumstances aft er the date of this presentation. Any reference to past performance or trends or activities of Moncler shall not be taken as a representation or indication that s uch performance, trends or activities will continue in the future. This presentation does not constitute an offer to sell or the solicitation of an offer to buy the Group’s securities, nor shall the document form the basis of or be relied on in connection with any contract or investment decision relating thereto, or constitute a recommendation regarding the securities of Moncler. Moncler’s securities referred to in this document have not been and will not be registered under the U.S. Securities Act of 1 933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Luciano Santel, the Manager in charge of preparing the corporate accounting documents, declares that, pursuant to art. 154 -bis, paragraph 2, of the Legislative Decree no. 58 of February 24, 1998, the accounting information contained herein correspond to document results, books and accounting records. 1928 OCTOBER 20259M 2025 INTERIM MANAGEMENT STATEMENT