Moncler Spa Unsp/Adr

Good evening. This is the Coral School Conference operator. welcome and thank you for joining the montclair first half 2024 financial results conference call as a reminder all participants are in listen only mode after the presentation there will be an opportunity to ask questions should anyone need assistance during the conference call they may signal an operator by pressing star and zero on their telephone at this time i would like to turn the conference over to miss elena mariani strategic planning and investor relations director of montclair Please go ahead, Madame.

Good evening, everybody, and thank you for joining our call today on Moncler Group's first half 2024 financial results. As usual, let me introduce you to the speakers of today's call. Besides myself, you have Gino Fisanotti, Moncler Chief Brand Officer, Roberto Eggs, Chief Business Strategy and Global Market Officer, and Luciano Santo, Chief Corporate and Supply Officer. Before starting, I need to remind you that this presentation may contain certain statements that are neither reported financial results nor other historical information. Any forward-looking statements are based on group current expectations and projections about future events. By their nature, forward-looking statements are subject to risks, uncertainties, and other factors that could cause results to differ even materially from those expressed in or implied by these statements, many of which are beyond the ability of the group to control or estimate. Let me also highlight that given the nature of our business, interim results can be influenced by seasonal effects and therefore cannot be taken as a proxy for full year trends or results. Finally, I remind you that the press has been invited to participate to this conference in a listen-only mode. So before handing it over to Gino, let me just present the key highlights of today's results on page four. Group revenues in the first half of the year were up 11% at constant effects, with the Moncler brand for the first time exceeding the 1 billion euro revenue mark in the first half of the year, up 15%, and Sun Island down 5% at 189 million euros. The group also reached a notable H1 operating profit exceeding €250 million with an EBIT margin of 21% compared to 19.2% last year. Net income was €181 million and our net cash position at the end of June was very healthy at €846 million compared to €471 million in June 2023. Let me now hand it over to Gino for the key highlights of the Monter Brand. Gino, over to you.

Thank you, Elena. Good afternoon to everyone. Again, a few things from my end. I think on the back of a very strong Q1 in terms of executions and brand momentum for us in Q2. First of all, we have the opportunity to really create an interaction between Monter and art, creativity, and design. This was the first time for the brand to be present during Milan Design Week. And again, we were by design and lucky enough to have the Venice Biennale and Design Week happening at the same time. So we strategically took the decision to take over one of the most iconic landmarks of the city, which is the Stazione Centrale, the train station, the main central station. And by doing that, we were able to transform that space into an exhibit space that, as we discussed before, was all about art, creativity, and design. A few things just to highlight. In terms of art, we were able to work in partnership with the French iconic artist JR, and this was able to create a full takeover of the facade of this very iconic landmark, something that, of course, created a lot of structure and invitation to everyone attending Design Week to look at. And then in terms of the creativity, of course, we work in a project curated by Jefferson Hack, with some of the most extraordinary minds that shape culture today, like Daniel Arsham, Deepak Chopra, Isamaya French, and others, by taking over the full communication of the station. Just to give an idea, over 240 billboards and more than 100 digital screens were all too covered to be part of this experience. That was able to connect with over 3 million people who passed by that week, which was a new record. And of course, this helped us as a backdrop to our summer campaign that was able to reach over half a billion people around the globe. Last but not least, connected to this as well, we were able to present through media our upcoming work in collaboration with iconic designer Jonathan Ive, Johnny Ive. This is something that we will be launching later this year, but we were able to announce during Design Week as well because we believe that was a perfect backdrop to do so. If we move to the next slide, and before I pass to Roberto to talk about Stone Island, of course, we continue our progression towards spring-summer diversification, and this was not the exception for us in Q2. This is why you can see that we have been doing conscious efforts around our spring-summer Montclair collection. during this time, especially on the back of April and beginning of May. We were able as well to launch on the back of June our Montclair collection pre-fall, as well as the introduction into what is coming right now, our fall winter collection. So again, as I mentioned before, hopefully this will start making sense to all our conversations about how we're starting to push to become a more all-year-round brand and the diversification we want to do into spring-summer as well. Roberto, to you.