Moncler Spa Unsp/Adr

Good evening, this is the Coruscall Conference Operator. Welcome and thank you for joining the Moncler First Half 2026 Financial Results Conference Call. As a reminder, all participants are in listen-only mode and 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, everyone, and thank you for joining our call tonight on Moncler Group's first half 2026 financial results. 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 risk, 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. Before starting our H1 review, I would like to hand over to Leo Rongone, our new Group Chief Executive Officer. As you all know, Leo joined the company just three months ago, and he would like to share some first observations and thoughts after his first few weeks into the company. Leo, over to you.

Thank you, Elena. Good evening, everyone. It's a real honor and a great privilege to speak to you today for the first time as the CEO of the Moncler Group. Before handing over to the team for the Q2 results and the Q&A session, I'd like to share a few reflections on my first three months within the company, an important time for me of listening, learning, and meeting so many talented individuals across the organization, from headquarters to our regional offices, from our stores to our production atelier. These initial months have been critical to gain a deep understanding of the group to shape my perspective and to identify where we can continue to evolve and where we will focus our energy from now on. You know, I have admired Moncler from the outside for many years and always had great respect for what Remo Ruffini and his team have built over the years. Now, experiencing the company from the inside, my admiration has increased even more. What I've found since joining the group is truly remarkable. An organization that perfectly combines outstanding creativity with strong operational discipline. You all know this is a rare balance, and to me, one of the key reasons behind the enduring success of this group. I've also been impressed by the uncompromising commitment to product excellence, quality, meticulous attention to details, and the constant drive for improvement are not simply processes here. They are deeply rooted in the culture of the company. There is something else, the way we tell our stories. In an industry that's becoming even more crowded and noisy, our communication is authentic and engaging. We are able to make our voice heard, to build genuine and lasting connections with our communities. This unique capability is a real competitive advantage. Most importantly, however, is the people who have really inspired me. Across every function and every region, I have found a strong sense of ownership, a deep commitment to excellence, and a true passion. I've also met a solid leadership team that has built two of the most iconic and desirable luxury brands. This is an asset I deeply value and I'm fully committed to preserving and strengthening. Looking ahead, I see exciting opportunities for the group. As far as Montclair is concerned, our strategic priorities are clear. Building relevance in regions where we have great potential. Cultivating a dialogue with our customers across all seasons. unlocking the full potential of our three brand dimensions you are already familiar with, Collection, Renoble, and Genius. The focus now is on a further step up in execution and making sure each of these priorities translates into tangible and consistent results over time. To do so, we will explore new ways of pushing creative and technical boundaries. Innovation in materials, for example, would be key to embody the true value of the mountain throughout the entire year beyond a single season and to elevate our product experience. The mountains encourage well-being, intentional living, and a deep human connection, something deeply rooted in our values and identity. Moreover, There is a significant potential to further extend the brand's legitimacy beyond the core outdoor category, always respecting our brand's DNA. Talking about Stone Island, I have found a brand with an exceptionally strong identity, a unique cultural innovation, and one of the most authentic and engaged communities in the luxury sector. The foundations that have been built over these past years are very solid. And the progress we are seeing today reflects disciplined execution of a clear long-term strategy. Looking at the future, we will continue to focus on product research, strengthen the quality of our global distribution, and invest in consistent, culturally relevant brand communication. By doing so, we'll deepen our relationship with our loyal community while introducing Stone Island to a new generation of clients around the world. For both brands, the way we engage with our clients represent a clear opportunity. Over the years, we have built a strong platform and a powerful ability to reach and inspire wide audiences. Now, we want to translate this strength into even more direct, more frequent, and more personal interaction with our VACs, building stronger relationships with them over time. To conclude, these first months have only reinforced my belief that many more remarkable chapters of this group's story have yet to be written, and I'm deeply honored to help writing them alongside Remo. His visionary leadership has been the driving force behind the Montclair extraordinary journey so far. Together with him and the entire top management team, we will keep working with a long-term perspective, committed to helping this group reach its full potential, always guided by the health and desirability of our brands. I'm very excited by the journey ahead, and I look forward to meeting many of you in person over the coming quarters, when there will be the opportunity to share more on my perspective. But tonight we are here to talk about our Q2 results. So now let me hand over to Elena, Gino, and Luciano for the H1 review and the Q&A session. Thank you.