Moncler Spa Unsp/Adr

Good evening, this is the Coral School Conference Operator. Welcome and thank you for joining the Moncler Group Full Year 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 under 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, everyone, and thank you for joining our call today on Moncler's full year 2025 financial results. Let me introduce you to the speakers of today's call. Mr. Remo Ruffini, Moncler Group's Chairman and CEO. Luciano Santel, Chief Corporate and Supply Officer. Roberto Eggs, Chief Business Strategy and Global Market Officer. Gina Fisanotti, Montclair Chief Brand Officer, and Robert Trefus, Sun Island CEO. 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. I also remind you that the press has been invited to participate to this conference in a listen-only mode. Finally, I kindly ask you during the Q&A session to stick to a maximum of two questions per person to give all participants the opportunity to ask questions. Let me now hand it over to our chairman and CEO, Mr. Remo Ruffini. Mr. Ruffini, over to you.

Good evening, everyone. In 2025, even in a difficult environment, our group delivered a solid performance, 3.13 billion euros of revenues, a strong acceleration in Q4 at both brands, with Moncler DTC up 7%, Stone Island DTC up 16%. In EBIT margin of 29.2%. Net cash, 1.5 billion euros. And our sustainability effort valued by key ranking globally. Strong result that demonstrate the quality of our operating execution and the resilience of our business model. But as usual, as always, what I am mostly proud of is how we reach this result. Investing in creativity, preserving our identity, and moving forward with clarity in our long-term strategic direction. At Moncler, we are working to make the brand stronger across all seasons and all geographies, focusing on where we have room to improve our brand awareness. We also continue to build unique brand experiences and moments. After the strong success of Warmer Together, which became way more than a simple campaign, we opened 2026 with an emotional Grenoble event in Aspen. And we are back to Winter Olympics by sponsoring the Team Brazil and its athlete, Lucas Pinheiro Braten, in a relevant, unique, and meaningful way. This moment is only the beginning of a year of full initiative. At Stone Island, we keep moving with focus and discipline. We are working hard to reinforce the brand in the areas that matter most, improving our collections, elevating the customer experience, and making operation more solid and relevant. Growing with intention, rather than just scale. As we grow, we decide to make our organization even stronger. The arrival of Laurent Rongone as a group CEO in April is a natural next step in our evolution, which will bring new energy to our already solid structure. Something my leadership team And I have been considering for a while. But let me be clear, I'm not stepping down. And I'm stepping back. I will be executive chairman, continue to lead our creative direction, and set the strategist direction of the group. I will be fully involved every day with the same passion and the same commitment. Let me close with something that feels very important to me. We grow only when we stay true to who we are, to our curiosity, to our uniqueness, and to our courage to evolve. Because I believe that only companies that understand when and how to embrace change are able to succeed. Thank you. I leave the floor to Gino.