(Alliance News) - Moncler Spa on Wednesday reported that it ended 2023 with net income of EUR611.9 million, up about 21 percent from EUR606.7 as of Dec. 31, 2022.

The board of directors approved the distribution of a dividend of EUR1.15 per share from EUR1.12 per share in 2022.

Revenues in the period stood at EUR2.98 billion, up 17 percent from EUR2.60 billion in 2022.

For the Moncler brand, revenues in 2023 were EUR2.57 billion from EUR2.20 billion in 2022. For the Stone Island brand, revenues stood at EUR411.1 million from EUR401.1 million as of December 31, 2022.

In terms of geography, revenues in Asia were EUR1.29 billion up 30 percent from EUR1.03 billion in 2022.

The EMEA region in 2023 reported revenues of EUR910.5 million from EUR804.4 million the previous year.

Revenues from the Americas, on the other hand, decreased to EUR371.3 million from EUR368.1 million in 2022.

Ebit as of Dec. 31 was EUR893.8 million from EUR774.5 million in the same period last year.

Net cash position as of Dec. 31 was positive and EUR1.03 billion, compared to EUR818.2 million net cash as of Dec. 31, 2022.

Looking ahead, "in early 2024, the global macroeconomic and geopolitical landscape remains uncertain and unpredictable. In response to this volatile environment, the group remains focused on improving its operational flexibility and responsiveness, and will continue to invest in its organization and people to further strengthen the execution of its strategy," the company explained in a note.

"By leveraging its distinctive brands and the great talent in the company, the group will continue to address this uncertain scenario and the changing market dynamics, with the goal of remaining on a solid growth trajectory."

Remo Ruffini, chairman and CEO of Moncler, commented, "The year 2023 marked the 10th anniversary of our listing on the Milan Stock Exchange. Today I am very proud to celebrate this important milestone with record results for the group: EUR2.98 billion in revenues, Ebit of EUR894 million, and over EUR1 billion in net cash."

"These financial results are more than just numbers: they are a testament to a decade of thinking outside the box, a relentless pursuit of product excellence, a constant and direct relationship with customers, and an uncompromising brand strategy that continues to drive our group and inspire our people."

"Looking to the future, the journey continues. At Moncler, we will continue to strengthen the three dimensions of our brand-Collection, Genius and Grenoble-while maintaining a constant connection with existing communities and reaching out to new ones. Meanwhile, Stone Island begins a new chapter, ready to express its full potential through a highly distinctive brand engagement and brand positioning strategy we recently launched."

On Wednesday, Moncler closed 0.3 percent in the red at ERU63.50 per share.

By Claudia Cavaliere, Alliance News reporter

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