Moncler: a solid end to 2023 boosts the share price
The luxury down jacket manufacturer said it expected sales to rise by 17% to 2.98 billion euros in 2023, including 15% growth at constant exchange rates.
Its operating income before non-recurring items (Ebit) reached 893.8 million euros, up from 774.5 million a year earlier, representing an improved operating margin of 30%, compared with 29.8% in 2022.
Annual net profit stood at 611.9 million euros, compared with 606.7 million euros in 2022.
In a research note, RBC analysts express their admiration for the Milan-based group's ability to post steady growth, highlighting a commercial dynamic "among the best in the luxury sector".
The Canadian broker thus expects double-digit growth in 2024, despite the economic uncertainties currently affecting the market.
On Euronext Milan, the mountain clothing and accessories manufacturer's shares were up almost 6% by mid-day, the second highest rise on the MIB index.
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