Strong growth continued also in the fourth quarter, revenue for the last quarter of the year rose by 20 per cent both at constant and at current exchange rates despite the challenging comparison base.
Revenue from the operations across several regions was a boost to the company. In Italy revenue rose 12 per cent at constant exchange rates, in acceleration in the fourth quarter, with positive contribution by both the retail and the wholesale channels.
In EMEA, revenues grew 17 per cent at constant exchange rates, with double-digit growth in both channels and in the main markets. In the fourth quarter, Germany and UK continued to outperform driven by outstanding growth in the retail channel. Revenue growth in France, although solid, slowed down in the fourth quarter due to the events that led, on some days in December, to store's closure in Paris
In Asia and rest of the world revenue increased 28 per cent at constant exchange rates notwithstanding the tough comparison base. In the Americas revenues improved 23 per cent at constant exchange rates, accelerating in the last quarter. The company saw very good results in Canada and in the United States, in both the retail and the wholesale distribution channels.
"A year has passed since the launch of Moncler Genius, five years since our listing on the Italian Stock Exchange and fifteen since I acquired Moncler. These are all milestones along a journey that has led us, once again in 2018, to record double-digit growth not only in all regions and distribution channels, but also for all economic indicators. Revenue in the fourth quarter of this year grew by 20 per cent. In addition, in 2018, EBITDA exceeded €500 million with a 35 margin, net income grew by 33 per cent, reaching €332 million and, more importantly, our cash generation continued to be very strong leading to a positive net financial position of €450 million," Remo Ruffini, chairman and chief executive officer, said.
Aiming to reach significant heights, Moncler is forecasting a scenario of further growth in 2019. Since the inception, the strategy of Moncler brand's positioning in the luxury goods sector has been based on clear pillars: uniqueness, consistency of its heritage and ability to innovate while remaining true to its tradition luxury goods consumers are evolving rapidly and faster than in the past. To take advantage of these changes, Moncler has opened a new chapter, Moncler Genius One House Different Voices, which will drive the Group future developments.
The group is working on a selective expansion in product categories that are complementary to its core business and where it has, or can achieve, high brand awareness and strong know-how. It is reinforcing its commitment to sustainable and responsible long-term development, which takes account of stakeholder's expectations with a view to shared value creation. (RR)
Fibre2Fashion News Desk – India
| On 29th Nov 2021
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