Informazione
Regolamentata n.
1218-31-2026Data/Ora Inizio Diffusione 22 Luglio 2026 17:46:40Euronext Milan
Societa' :MONCLER
Utenza - referente :MONCLERN04 - Bonante Andrea Tipologia :2.2; 1.2 Data/Ora Ricezione :22 Luglio 2026 17:46:40 Data/Ora Inizio Diffusione :22 Luglio 2026 17:46:40 Oggetto :H1 2026 Financial Results Testo del comunicato
Vedi allegato
1
GROUP H1 2026 REVENUES AT 1,290 MILLION EUROS, UP 9 % cFX.
H1 2026 EBIT REACHES 245 MILLION EUROS, WITH A MARG IN OF 19.0%.
The Board of Directors of Moncler S.p.A. (Moncler o r the Company) reviewed and approved the Half-
Year Financial Report for the period ended 30 June 20261.
GROUP CONSOLIDATED REVENUES: EUR 1,289.9 million in the first half of 2026, an increase of 9% at constant exchange rates, cFX, (+5% at current ex change rates) compared with EUR 1,225.7 million in the first half of 2025.
MONCLER REVENUES: EUR 1,089.6 million in the first half of 2026, +9% cFX (+5% at current exchange rates) compared with EUR 1,039.0 million i n the first half of 2025;
• Performance in the second quarter (+3% cFX YoY) was driven by the Direct-To-Consumer (DTC 2) channel, up 3% cFX YoY, despite ongoing macroecon omic headwinds and weaker tourist flows, particularly affecting the EMEA regi on. The wholesale channel also grew by 3% cFX YoY, notwithstanding the continued optimisat ion of the distribution network.
STONE ISLAND REVENUES: EUR 200.3 million in the fir st half of 2026, an increase of 11% cFX (+7% at current exchange rates) compared with EUR 1 86.7 million in the same period of 2025;
• Second quarter revenues were up 11% cFX YoY, mainly driven by the continued solid double-
digit growth of the DTC channel (+15% cFX YoY), wit h the Americas and Asia outperforming.
The wholesale channel also grew by a solid +6% cFX YoY.
GROUP EBIT: EUR 245.4 million in the first half of 2026 compared with EUR 224.8 million in the same period of 2025. EBIT margin of 19.0% vs 18.3% in H1 2025.
GROUP NET RESULT: EUR 164.7 million in the first ha lf of 2026 (12.8% margin) compared to EUR 153.5 million in the first half of 2025 (12.5% marg in).
GROUP NET FINANCIAL POSITION 3: EUR 1,112.4 million in net cash (EUR 1,458.0 mill ion as of 31 December 2025 and EUR 980.8 million as of 30 June 2 025), after EUR 374.1 million in dividend payment. As of 30 June 2026, lease liabilities were EUR 1,198.6 million (EUR 1,109.1 million as of 31 December 2025 and EUR 940.8 million as of 30 June 2 025).
1 This applies to all pages of this press release if not otherwise stated: all data include IFRS 16 imp act, growth rates at constant exchange rates, rounded figures to the fir st decimal place (except for percentage changes).
2 The DTC channel includes revenues from DOS, direct online and e-concessions.
3 Excluding lease liabilities.
2 REMO RUFFINI, Executive Chairman of Moncler S.p.A., commented:
“In a global landscape defined by rapid and disrupt ive change, what makes our Group resilient is not only how quickly we react, but how true we stay to who we are and how close we remain to the communities we speak to.
In the first half of the year we delivered solid gr owth and profitability across both our brands, by s taying focused on what matters most: our products, the cre ativity that defines our brands, and the collective energy we share with our audiences. At the same tim e, we continue to find new and more engaging ways to be relevant throughout the year, well beyon d our core season.
The operating environment remains complex and hard to predict. These are moments that test our ability to be sharper and bolder, while remaining disciplin ed and grounded. It is with this same spirit, and w ith a clear sense of direction, that we approach the se cond half of the year and the opportunities ahead.”
***
Milan, 22 July 2026 - The Board of Directors of Mon cler S.p.A., which met today, reviewed and approved the Half-Year Financial Report as of 30 Ju ne 2026.
In the first half of 2026, Moncler Group reached co nsolidated revenues of EUR 1,289.9 million, up 9% cFX compared with the same period of 2025. These re sults include Moncler brand revenues of EUR 1,089.6 million and Stone Island brand revenues of EUR 200.3 million.
In the second quarter, Group revenues were EUR 409. 3 million, up 5% cFX compared with the same period of 2025. The Moncler and Stone Island brands recorded revenues of EUR 323.1 million and EUR 86.3 million respectively in Q2.
MONCLER GROUP: REVENUES BY BRAND
MONCLER GROUP H1 2026 H1 2025 % vs 2025
EUR 000 % EUR 000 % rep FX cFX
Moncler 1,089,579 84.5% 1,038,965 84.8% +5% +9% Stone Island 200,333 15.5% 186,699 15.2% +7% +11%
REVENUES 1,289,912 100.0% 1,225,665 100.0% +5% +9%
3
MONCLER
In the first six months of 2026, Moncler brand reve nues were EUR 1,089.6 million, an increase of 9% cF X compared with the first half of 2025.
In the second quarter, revenues for the brand amoun ted to EUR 323.1 million, up 3% cFX YoY, supported by the positive contribution of both channels, desp ite a persistently challenging macroeconomic environment.
MONCLER: REVENUES BY GEOGRAPHY
MONCLER H1 2026 H1 2025 % vs 2025
EUR 000 % EUR 000 % rep FX cFX
Asia 592,904 54.4% 525,704 50.6% +13% +19%
EMEA 349,718 32.1% 365,404 35.2% -4% -4%
Americas 146,957 13.5% 147,858 14.2% -1% +6%
REVENUES 1,089,579 100.0% 1,038,965 100.0% +5% +9%
In the first half of 2026, revenues in Asia (which includes APAC, Japan and Korea) were EUR 592.9 million, up 19% cFX compared with the same period o f 2025. In the second quarter, revenues in the region were up 12% YoY at constant exchange rates. All countries delivered positive growth in the quarter, with China and Korea outperforming the res t of the region.
EMEA recorded revenues of EUR 349.7 million, down 4 % cFX compared with H1 2025. In the second quarter, revenues in the region were down 8% cFX Yo Y, mainly due to softer tourist flows, particularly from Asian customers, and a weak online performance .
Revenues in the Americas increased by 6% cFX compar ed with H1 2025 to EUR 147.0 million. In the second quarter, revenues in the region were up 4% c FX YoY, supported by the continued solid performance of the DTC channel, benefiting from rob ust local consumption.
MONCLER: REVENUES BY CHANNEL
MONCLER H1 2026 H1 2025 % vs 2025
EUR 000 % EUR 000 % rep FX cFX
DTC 933,166 85.6% 883,187 85.0% +6% +10%
Wholesale 156,413 14.4% 155,779 15.0% 0% +3%
REVENUES 1,089,579 100.0% 1,038,965 100.0% +5% +9%
In the first half of 2026, the DTC channel recorded revenues of EUR 933.2 million, up 10% cFX compared with the first half of 2025. Revenues in the second quarter of 2026 were up 3% cFX YoY, despite ongoin g macroeconomic headwinds and weaker tourist flows, p articularly affecting the EMEA region. Asia and the Americas continued to deliver solid growth.
The physical channel continued to outperform the on line channel.
4 In H1 2026, revenues from stores open for at least 12 months (Comparable Store Sales Growth 4) were up 7% compared with H1 2025.
The wholesale channel recorded revenues of EUR 156. 4 million, an increase of 3% cFX compared with H1 2025. In the second quarter, revenues in this ch annel were up 3% cFX YoY, in line with the previous quarter, notwithstanding the ongoing efforts to upg rade the quality of the distribution through furthe r network optimisation.
As of 30 June 2026, the network of Moncler mono-bra nd boutiques counted 298 directly operated stores (DOS), a net increase of 3 units compared wi th 31 March 2026. Relevant activities included the opening of the Sydney Chatswood store in Australia and the relocation of the store in Geneva. The Moncler brand also operated 44 mono-brand wholesale stores, a net decrease of 3 units compared with 31 March 2026.
MONCLER: MONO-BRAND DISTRIBUTION NETWORK
MONCLER 30/06/2026 31/03/2026 31/12/2025
Asia 147 146 146
EMEA 97 97 98
Americas 54 52 51
RETAIL 298 295 295
WHOLESALE 44 47 49
4 Comparable Store Sales Growth (CSSG) considers rev enues growth from DOS (excluding outlets) open for at least 52 weeks and the online store; stores that have been expanded an d/or relocated are not included.
5
STONE ISLAND
In the first six months of 2026, Stone Island brand revenues reached EUR 200.3 million, an increase of 11% cFX compared with the first half of 2025.
In the second quarter, revenues for the brand amoun ted to EUR 86.3 million, up 11% cFX YoY, mainly driven by the continued solid double-digit growth o f the DTC channel.
STONE ISLAND: REVENUES BY GEOGRAPHY
STONE ISLAND H1 2026 H1 2025 % vs 2025
EUR 000 % EUR 000 % rep FX cFX
Asia 60,380 30.1% 52,311 28.0% +15% +25%
EMEA 125,793 62.8% 123,293 66.0% +2% +3%
Americas 14,160 7.1% 11,095 5.9% +28% +35%
REVENUES 200,333 100.0% 186,699 100.0% +7% +11%
In the first six months of 2026, Asia (which includ es APAC, Japan and Korea) reached EUR 60.4 million revenues, growing 25% cFX compared with the same pe riod of 2025. In the second quarter, the region grew by 25% cFX YoY, in line with the previous quar ter, with all main countries delivering continued strong double-digit growth.
EMEA recorded revenues of EUR 125.8 million, an inc rease of 3% cFX compared with H1 2025. In the second quarter, revenues were up 2% cFX YoY, suppor ted by a positive performance registered both in the DTC and in the wholesale channel.
Revenues in the Americas were up 35% cFX compared w ith H1 2025. In the second quarter, revenues accelerated to +49% cFX YoY, driven by strong doubl e-digit growth in both the DTC and the wholesale channel.
STONE ISLAND: REVENUES BY CHANNEL
STONE ISLAND H1 2026 H1 2025 % vs 2025
EUR 000 % EUR 000 % rep FX cFX
DTC 109,207 54.5% 99,114 53.1% +10% +16%
Wholesale 91,126 45.5% 87,586 46.9% +4% +5%
REVENUES 200,333 100.0% 186,699 100.0% +7% +11%
In the first six months of 2026, the DTC channel gr ew by 16% cFX compared with H1 2025 to EUR 109.2 million. In the second quarter, revenues in this ch annel were up 15% cFX YoY, maintaining the solid double-digit growth trend of previous quarters, with the Americas and Asia outperforming.
The physical channel continued to outperform the on line channel, although the latter improved sequentially.
The wholesale channel recorded revenues of EUR 91.1 million, up 5% cFX compared with H1 2025. In the second quarter, revenues increased by 6% cFX YoY, i mproving sequentially, while the Group continued its efforts to upgrade the quality of the distribut ion network.
6 As of 30 June 2026, the network of Stone Island mon o-brand stores comprised 95 directly operated stores (DOS), a net increase of 1 unit compared wit h 31 March 2026. During the quarter, a notable development was the opening of the store in Changsh a, China. The Stone Island brand also operated 11 mono-brand wholesale stores, unchanged compared with 31 March 2026.
STONE ISLAND: MONO-BRAND DISTRIBUTION NETWORK
STONE ISLAND 30/06/2026 31/03/2026 31/12/2025
Asia 54 53 54
EMEA 33 33 32
Americas 8 8 9
RETAIL 95 94 95
WHOLESALE 11 11 11
7
GROUP INCOME STATEMENT RESULTS
In the first six months of 2026, consolidated gross profit was EUR 995.2 million, with an incidence on revenues of 77.2% compared with 76.9% in the same p eriod of 2025. The increase in margin is primarily driven by the positive channel mix, with a higher i ncidence of the DTC channel at both Moncler and Stone Island.
Selling expenses in the first half of 2026 were EUR 446.3 million, compared with EUR 429.5 million in H1 2025, with a 34.6% incidence on revenues, lower than in the same period of 2025 (35.0%) thanks to positive operating leverage. General and administra tive expenses were EUR 180.4 million, with a 14.0% incidence on revenues, compared with EUR 170.4 mill ion in H1 2025 (13.9% on revenues). In the first ha lf of 2026, general and administrative expenses includ ed one-off charges equal to EUR 8.0 million related to the new governance structure (expected t o be approximately EUR 10.0 million in FY26).
Marketing expenses were EUR 123.1 million, represen ting 9.5% of revenues, compared with 9.6% in the first half of 2025. Management continues to expect an incidence of marketing expenses on revenues of around 7% at year end, in line with the previous fi scal year.
Group EBIT was EUR 245.4 million with a margin of 1 9.0%, compared with EUR 224.8 million in H1 2025 with a margin of 18.3%, despite a negative impact of approximately 60 basis points from the above-
mentioned one-off charges.
In H1 2026, net financial expenses were EUR 12.1 mi llion, compared with EUR 6.5 million in the first h alf of 2025, with the increase mainly driven by higher interest expenses on lease liabilities.
The tax rate in the first half of 2026 was equal to 29.4%, compared with 29.7% in H1 2025.
The Group net result was EUR 164.7 million (12.8% margin), co mpared with EUR 153.5 million in H1 2025 (12.5% margin).
8
GROUP CONSOLIDATED BALANCE SHEET AND CASH FLOW ANAL YSIS
As of 30 June 2026, the net financial position (exc luding the effect related to IFRS 16) was positive and equal to EUR 1,112.4 million compared with EUR 1,45 8.0 million of net cash as of 31 December 2025 and EUR 980.8 million as of 30 June 2025. As required b y the IFRS 16 accounting standard, the Group accounted lease liabilities equal to EUR 1,198.6 mi llion as of 30 June 2026 compared with EUR 1,109.1 million as of 31 December 2025 and with EUR 940.8 m illion as of 30 June 2025.
Free cash flow in H1 2026 was equal to EUR 34.0 mil lion compared with EUR 15.0 million in H1 2025, with the increase mainly driven by higher EBIT.
Net cash flow in H1 2026 was negative and equal to EUR 345.6 million, after the payment of EUR 374.1 million of dividends (out of the approved dividend distribution of EUR 380.2 million), compared with a negative net cash flow of EUR 328.0 million in H1 2 025.
Net consolidated working capital as of 30 June 2026 was EUR 319.6 million compared with EUR 283.7 million as of 30 June 2025, equal to 10.0% of the l ast-twelve-months revenues (9.1% as of 30 June 2025 ), reflecting the continuous and rigorous control of w orking capital levels. The YoY increase was primari ly attributable to higher inventory levels, following the strategic decision to front-load purchases of k ey raw materials, as well as a different phasing of pr oduction compared to the previous year to better serve all global markets.
In the first half of 2026, net capital expenditures were EUR 89.2 million (6.9% of revenues) compared with EUR 82.0 million in H1 2025 (6.7% of revenues) . Investments related to the distribution network were equal to EUR 55.1 million, while investments r elated to infrastructure were equal to EUR 34.1 million. Management expects an incidence of capital expenditure on revenues in the region of 6% at year end.
9
SIGNIFICANT EVENTS OCCURRED IN THE FIRST HALF OF 20 26
APPOINTMENT OF BARTOLOMEO RONGONE AS GROUP CHIEF EXEC UTIVE OFFICER AND REMO
RUFFINI AS EXECUTIVE CHAIRMAN. RESIGNATION OF GABRI ELE GALATERI DI GENOLA
On 1 April 2026, Bartolomeo “Leo” Rongone joined th e Moncler Group as Chief Executive Officer, as announced on 20 January 2026.
On the same date, the resignation of Gabriele Galat eri di Genola from his position as Non-Executive Director of Moncler became effective. The resignati on had been submitted in connection with the meeting of the Board of Directors of Moncler held o n 19 February 2026.
At the same meeting, the Board granted appropriate powers and authorities to Executive Chairman Remo Ruffini who, as announced on 20 January 2026, retained, among other responsibilities, oversight of the Group’s Creative Direction.
Following the resignation of Gabriele Galateri di G enola, who also served as a member of the Control, Risk and Sustainability Committee, the Board appoin ted Non-Executive Director Marco De Benedetti as a member of such Committee, effective as of 1 Ap ril 2026.
On 21 April 2026, the Ordinary Shareholders’ Meetin g confirmed Bartolomeo Rongone as Director of the Company until the expiry of the current Board o f Directors' term of office, namely until the Shareholders’ Meeting called to approve the financi al statements for the year ending 31 December 2027.
ROBERTO EGGS STEPPED DOWN AS CHIEF BUSINESS & GLOBA L MARKET OFFICER WHILE
REMAINING ON THE BOARD OF DIRECTORS OF MONCLER S.P.A. AS A NON-EXECUTIVE DIRECTOR
On 20 January 2026, Moncler S.p.A. announced that R oberto Eggs would step down from his role as Chief Business & Global Market Officer with effect from 1 March 2026 in order to pursue a new professional chapter, while remaining a member of t he Board of Directors as a Non-Executive Director.
Accordingly, on 19 February 2026, the Board of Dire ctors acknowledged the relinquishment of his executive powers and authorities, effective from 1 March 2026.
APPOINTMENT OF THE BOARD OF STATUTORY AUDITORS
On 21 April 2026, the Ordinary Shareholders’ Meetin g appointed the Board of Statutory Auditors for the three-year term 2026-2028.
The new Board of Statutory Auditors, which will rem ain in office until the Shareholders’ Meeting calle d to approve the financial statements for the year en ding 31 December 2028, is composed of three Standing Auditors (Sonia Ferrero (Chairperson), Car olyn Dittmeier and Antonio Ricci) and two Alternate Auditors (Lorenzo Mauro Banfi and Gianluca Settepan i).
DIVIDENDS
On 21 April 2026, the Ordinary Shareholders' Meetin g of Moncler approved Moncler's Financial Statements at 31 December 2025 and approved the dis tribution of a gross dividend of EUR 1.40 per share (EUR 1.30 per share in the previous year). Th e payment related to this distribution was equal to EUR 374.1 million of dividends (out of the approved dividend distribution of EUR 380.2 million).
10
2026 PERFORMANCE SHARES PLAN AND 2026 RESTRICTED SH ARES PLAN
Pursuant to Article 114-bis of the Consolidated Fin ancial Act, the Ordinary Shareholders’ Meeting approved the adoption of the 2026 Performance Share s Plan, a stock grant plan reserved for Executive Directors, Key Persons, employees, collaborators an d consultants of Moncler and its subsidiaries.
The Shareholders’ Meeting also approved, pursuant t o Article 114-bis of the Consolidated Financial Act , the 2026 Restricted Shares Plan, a stock grant plan reserved exclusively for Moncler’s Chief Executive Officer, Bartolomeo Rongone.
Following the shareholders’ resolutions, on 21 Apri l 2026 the Board of Directors approved the implementation of both incentive plans. In particul ar, upon the favourable opinion of the Nomination and Remuneration Committee, the Board resolved:
under the 2026 Performance Shares Plan, to grant up to a maximum of 1,636,919 shares to 162 beneficiaries, including Executive Directors and Ke y Persons, subject to the achievement of performance objectives at the end of the three-year vesting period; and under the 2026 Restricted Shares Plan, to grant up to a maximum of 50,000 shares to the Chief Executive Officer, Bartolomeo Rongone, as the sole beneficiary of the plan, subject to the fulfilment of the retention condition at the end of the three-year vesting period.
SIGNIFICANT EVENTS OCCURRED AFTER 30 JUNE 2026
On 22 July 2026, the Board of Directors of Moncler acknowledged the resignations tendered by Alexandre Arnault, Non-Executive Director, and Geof froy van Raemdonck, Independent Director, from their offices as members of the Board of Directors.
Alexandre Arnault tendered his resignation due to p rofessional commitments, effective as of 22 July 2026. Accordingly, the Board co-opted, with the app roval of the Board of Statutory Auditors, Sidney Toledano as a new Director of the Company, who will remain in office until the date of the next Shareholders’ Meeting.
Geoffroy van Raemdonck tendered his resignation, ef fective as of 22 July 2026, due to professional reasons connected with his decision to continue ser ving on a long-term basis as CEO of Exemplar Luxury Group (formerly Saks Global), thereby enabling Monc ler’s Board of Directors to maintain a composition consistent with the governance requirements set out in the By-laws. The Board of Directors will be cal led upon to adopt, at the first available meeting, the resolutions consequent upon the resignation, for th e purposes of integrating the composition of the Boar d through the appointment of a new Independent Director.
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BUSINESS OUTLOOK
Entering the second half of 2026, the global geopol itical and macroeconomic landscape remains characterised by a high level of uncertainty and vo latility. Against this backdrop, the Group remains focused on executing its strategy with discipline a nd agility, mindful of the challenges in the operat ing environment, yet committed to pursuing and shaping new opportunities, while maintaining a clear sense of direction and continuing to invest in its organi sation and distinctive brands.
In an ever-evolving world, the Group remains true t o its identity and values, never compromising the long-term value of its brands. Guided by a culture that blends creativity and innovation, the Group is well positioned to navigate volatile market dynamic s and deliver sustainable, long-term value to all i ts stakeholders. These principles underpin the Group’s key strategic priorities illustrated below.
STRENGTHENING OF ALL MONCLER BRAND DIMENSIONS GLOBALL Y, ALL YEAR ROUND . During
2026, Moncler will continue to reinforce its three complementary brand dimensions – Moncler Grenoble, Moncler Collection and Moncler Genius – through distinctive events and tailored marketin g strategies focused on unlocking their respective po tential across all regions. Moncler Grenoble , the dimension most closely tied to the brand DNA, will continue to elevate its signature blend in the performance luxury space, with dedicated marketing initiatives and a c omplete collection suitable for all the seasons of the year. This approach will fur ther authenticate this core dimension and firmly as sert Moncler's leadership as the most authentic luxury b rand for the outdoors. Moncler Collection , the expression of contemporary luxury , will continue to explore ways to elevate the prod uct proposition, re-
imagine iconic pieces, and enhance the brand’s abil ity to serve its customers all year round through relevant collections and concepts. Moncler Genius will continue its path of constant evolution in th e creative luxury space, maintaining its role as brand recruiter and powerful connector with the world of creativity and community of creators.
FURTHER EVOLVING THE STONE ISLAND BRAND LEGACY, WIT H THE PRODUCT AS ABSOLUTE
PROTAGONIST. In 2026, building on the momentum achieved over th e course of 2025, Stone Island will continue the journey towards its full potentia l by further strengthening global brand awareness through an intentional marketing approach aimed at driving consideration among new target segments.
This will continue to be achieved by amplifying the brand DNA, which is deeply rooted in a unique identity and a value matrix grounded in the culture of research and experimentation. The brand narrative will continue to position the product as the absolute protagonist, aiming to elevate the pro duct offering by expanding core categories and maximisin g desirability through iconic pieces and sub-
collections, while reinforcing the relevance of the total-look approach as a distinctive signature. Th e brand will also continue to enhance its existing di stribution network and retail excellence capabiliti es, reinforcing a highly selective omnichannel and cons umer-centric strategy across all touchpoints to deliver an authentic and elevated client experience .
SUSTAINABLE AND RESPONSIBLE GROWTH . Moncler Group believes in a sustainable and respo nsible development according to shared value that is refle ctive of stakeholder expectations and consistent with its long-term strategy. This approach is based on the commitment to set increasingly ambitious goals as well as on the awareness that every action has an impact on society and the environment in which we operate. Our actions are built on clear st rategic priorities: fighting climate change and protecting nature, with an increasingly circular ap proach to products; promoting high social standards along the supply chain; maintaining strong relation ships with clients; supporting local communities; a nd fostering the development and well-being of employe es.
12
OTHER RESOLUTIONS
RESIGNATION OF TWO NON-EXECUTIVE DIRECTORS
As of today, the Board of Directors of Moncler also acknowledged the resignations tendered by Alexandre Arnault, Non-Executive Director, and Geof froy van Raemdonck, Independent Director, from their offices as members of the Board of Directors 5.
Alexandre Arnault tendered his resignation due to p rofessional commitments, effective as of today.
Accordingly, the Board co-opted, pursuant to and fo r the purposes of Article 2396-undecies of the Italian Civil Code and Article 13.4 of the By-laws, with the approval of the Board of Statutory Audito rs, Sidney Toledano 6 as a new Director of the Company, who will remain in office until the date of the next Shareholders’ Meeting.
The Board of Directors, together with Moncler’s Top Management, thanks Alexandre Arnault for the contribution he brought thanks to his experience in the luxury sector. The Board also welcomes Sidney Toledano and extends its best wishes for his new of fice as Director.
Geoffroy van Raemdonck also tendered his resignatio n, effective as of today, due to professional reasons connected with his decision to continue ser ving on a long-term basis as CEO of Exemplar Luxury Group (formerly Saks Global), thereby enabling Monc ler’s Board of Directors to maintain a composition consistent with the governance requirements set out in the By-laws.
The Board of Directors, together with Moncler’s Top Management, thanks Geoffroy van Raemdonck for the contribution he made thanks to his deep knowled ge of the U.S. luxury market. The Board will be called upon to adopt, at the first available meetin g, the resolutions consequent upon the resignation, for the purposes of integrating the composition of the Board through the appointment of a new Independent Director.
*** Sidney Toledano is a graduate of École Centrale de Paris. He began his career in 1977 as Senior Data Analyst at A.C. Nielsen International. He then serv ed as General Secretary of Kickers in 1982 before joining Lancel’s senior management team, first as D eputy Manager Director in 1983 and then as Managing Director in 1984.
In 1994, he joined Christian Dior Couture as Managi ng Director of the leather goods division and subsequently became Managing Director in charge of international development. In 1998, he was appointed Chairman and CEO of Christian Dior Coutur e, a role he held until 2018. In 2002, he was appointed Managing Director of Christian Dior SE, a mandate he retained until 2022. In 2018, he was appointed Chairman and CEO of the LVMH Fashion Grou p and a member of the LVMH Executive Committee, positions he held until 2024. As Chairma n of the Fashion Group, he also held, until 2026, directorship positions in Maisons of the Fashion Gr oup.
Since 2024, Sidney Toledano serves as Special Advis or to the Chairman and CEO of LVMH.
Sidney Toledano is also a member of the Executive C ommittee of the Fédération de la Haute Couture et de la Mode and President of the Institut Françai s de la Mode.
Sidney Toledano has been awarded the honorary title s of Chevalier dans l’Ordre National de la Legion d’Honneur and Officier dans l’Ordre National du Mér ite in France.
5 To the best of the Company’s knowledge, as of toda y, Alexandre Arnault and Geoffroy van Raemdonck do not hold any Moncler shares.
6 To the best of the Company’s knowledge, as of toda y, Sidney Toledano does not hold any Moncler shares .
13
TABLES
RECLASSIFIED CONSOLIDATED INCOME STATEMENT
(EUR 000) H1 2026 % on revenues H1 2025 % on revenues
REVENUES 1,289,912 100.0% 1,225,665 100.0%
YoY performance +5% 0%
GROSS PROFIT 995,198 77.2% 941,947 76.9%
Selling expenses (446,309) (34.6%) (429,509) (35.0%) General & Administrative expenses (180,406) (14.0%) (170,396) (13.9%) Marketing expenses (123,098) (9.5%) (117,291) (9.6%)
EBIT 245,385 19.0% 224,751 18.3%
Net financial income / (expenses) (12,111) (0.9%) (6,466) (0.5%)
EBT 233,274 18.1% 218,285 17.8%
Taxes (68,559) (5.3%) (64,825) (5.3%) Tax rate 29.4% 29.7%
GROUP NET RESULT7 164,712 12.8% 153,460 12.5%
RECLASSIFIED CONSOLIDATED BALANCE SHEET STATEMENT
(EUR 000) 30/06/2026 31/12/2025 30/06/2025
Brands 999,354 999,354 999,354 Goodwill 603,417 603,417 603,417 Fixed assets 625,962 589,341 521,758 Right-of-use assets 1,087,003 1,018,330 859,485 Net working capital 319,593 303,638 283,722 Other assets / (liabilities) 130,522 23,136 116,298
INVESTED CAPITAL 3,765,851 3,537,216 3,384,034
Net debt / (net cash) (1,112,412) (1,458,046) (980,773) Lease liabilities 1,198,608 1,109,099 940,790 Pension and other provisions 30,719 36,374 32,713 Shareholders' equity 3,648,936 3,849,789 3,391,304
TOTAL SOURCES 3,765,851 3,537,216 3,384,034
7 Net result: EUR 164,715 thousand, including non-co ntrolling interest (EUR 153,460 thousand in H1 2025 ).
14
RECLASSIFIED CONSOLIDATED CASH FLOW STATEMENT
(EUR 000) H1 2026 H1 2025
EBIT 245,385 224,751
D&A & Other non cash adjustments 55,034 59,019 Change in net working capital (15,955) (28,174) Change in other current / non-current assets / (lia bilities) (105,007) (105,792) Net capex (89,246) (81,988)
OPERATING CASH FLOW 90,211 67,816
Net financial result 12,899 12,281 Taxes (69,147) (65,142)
FREE CASH FLOW 33,963 14,955
Dividends paid (374,085) (344,963) Changes in equity and other changes (5,512) 2,030
NET CASH FLOW (345,634) (327,978)
Net financial position - Beginning of Period 1,458, 046 1,308,751 Net financial position - End of Period 1,112,412 980,773
CHANGE IN NET FINANCIAL POSITION (345,634) (327,978)
15 ***
The manager in charge of preparing corporate accoun ting documents, Luciano Santel, declares, pursuant to paragraph 2 of article 154-bis of the C onsolidated Law on Finance, that the accounting information contained in this press release corresp onds to the accounting figures, books and records.
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FOR ADDITIONAL INFORMATION:
INVESTORS
investor.relations@moncler.com MEDIA
monclerpress@moncler.com
Elena Mariani
Strategic Planning and Investor Relations Director elena.mariani@moncler.com Claudio Monteverde Corporate Communication Director
claudio.monteverde@moncler.com
About Moncler Group With its brands Moncler and Stone Island, Moncler G roup represents a new concept of luxury, one that moves beyond conventions and continually striv es for uniqueness, creativity and innovation.
Alongside supporting its brands through shared corp orate services and expertise, Moncler Group aims to preserve their strong, independent identiti es, each rooted in authenticity and deep connections with their communities, while drawing i nspiration from the worlds of art, culture, music, and sport.
Operating in all key international markets, the Gro up distributes its brands’ collections in more than 70 countries through directly-operated physical and digital stores, as well as selected multi-brand retailers, department stores, and e-tailers.
Fine Comunicato n.1218-31-2026 Numero di Pagine: 17