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Investing.com -- Moncler posted a slight rise in first-half revenue, navigating a challenging global environment marked by slowing tourist flows and softening consumer demand in key markets.
Group revenue reached €1.23 billion in the six months to June 30, up 1% at constant exchange rates (cFX), with core Moncler brand sales also inching up 1% cFX to €1.04 billion.
Stone Island revenue fell 1% cFX to €186.7 million, though the brand posted a 6% gain in the second quarter.
Second-quarter Moncler sales slipped 2% cFX, impacted by a slowdown in the Direct-to-Consumer (DTC) channel, particularly in EMEA and Japan.
However, revenue in the Americas gained 5% cFX, supported by improving DTC performance.
Group EBIT declined to €224.8 million from €258.7 million, with the margin narrowing to 18.3% from 21% a year earlier, mainly due to the phasing of marketing spend.
Net income dropped to €153.5 million from €180.7 million.
“The first half of the year reminded us once again how unpredictable and complex the world can be,” said CEO Remo Ruffini. “Amid ongoing macroeconomic uncertainty, our Group will continue to operate with consistency and resilience.”
The company ended the period with €980.8 million in net cash after paying €345 million in dividends. Capital expenditure rose to €82 million, reflecting increased investment in infrastructure and store expansion.
Looking ahead, Moncler said it remains focused on agility and brand investment as it enters the second half of 2025, which it described as marked by “elevated” geopolitical and economic uncertainty.