Moncler Spa Unsp/Adr

Good evening, this is the Coruscall Conference operator. Welcome and thank you for joining the Moncler Group First Half 2025 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 Ms. Elena Mariani, Group Strategic Planning and Investor Relations Director. Please go ahead, Madam.

Good evening, everybody, and thank you for joining our call today on Moncler Group's first half 2025 financial results. As usual, let me introduce you to the speakers of today's call. Besides myself, you have Luciano Santo, Chief Corporate and Supply Officer for Roberto Eggs, Chief Business Strategy and Global Market Officer, and Gino Fisanotti, Moncler Chief Brand 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, entering 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 1,226,000,000 euros, up 1% at constant effects, with the Moncler brand up 1% and the Stone Island brand down 1%. The group also reached an EBIT of 225,000,000 euros with a margin of 18.3%. Net result was 153.5 million euros and our net cash position at the end of June was 981 million euros compared to 846 million euros in June 2024. Let me now hand it over to Gino for the key highlights of the Moncla brand in the second quarter. So Gino, over to you.

Thank you, Elena, and hello to everyone. Good afternoon. For the Moncler brand, I would say there was another busy quarter for the brand, and I would say we keep a strong focus on our key strategic priorities, Moncler Collection, Moncler Genius, and Moncler Grenoble. Within these, just a few highlights and a few words of what happened on the second quarter of the year. I would say the first comment is a Moncler first, a first ever participation of the brand in the New York City Met Gala. And this was in collaboration with Edward Enningful, who is part of our genius and a collection that is coming later this year. So we have been able to participate there. And of course, this create a new kind of, I would say, a new moment for the brand and a strong brand awareness and impact across the board. Then when we talk about Genius, we have two deliveries during this quarter. One at the beginning of the quarter in April with the launch of the Moncler Genius by Mercedes-Benz designed by Nego. This was launched in New York City at the only brand hub that Mercedes-Benz hosts in the world in Manhattan. And this collection was extremely well received. The performance was really good, not only in Asia, but globally. And then just less than 20 days ago, we had the opportunity to present and to launch the very first ready-to-wear collection designed by Donald Glover. So this was another important milestone for the brand on the back of all percent at the end of last year in China. And again, as probably you will be able to see, even Donald Glover took part of this campaign itself, which is another first as well for us. So this was another important launch for the brand this quarter. Then I will say that probably the next two executions are connected by one thing, which is start or keep building our foundation towards our summer business and our summer opportunity, I will say. The first one is around Montclair Collection, and the second one was the second delivery of Montclair Grenoble coming in mid-May this year. And again, this has to do with the idea, as we mentioned before, to keep building a foundation towards our I would say not future, but immediate future about keep building a strong resonance as a brand and becoming all year round brand when it comes about the seasonality of Montclair. Then, last but not least, we went to New York at the beginning of June where we were able to present our fall-winter 25 lineup on footwear to some selected press and, of course, key personalities. And I think There was the first time we introduced some new styles, some of them coming from the Genius Collection, and then a new family called the Altid, an Altid boot, which is a new product that will be coming later in September this year, and then a brand new style called the Trail Grip Low Profile that was the one that gets probably the biggest amount of coverage and impact from the people attending that, something that will come later this year as well. So with that, a very quick overview of another BC Quarter, and I will let Roberto now talk a bit about the BC Quarter of Stone Island.