Slides
Page 1
9M 2026 INTERIM MANAGEMENT STATEMENT
Page 2
REMO RUFFINI “In the third quarter, our industry continued to navigate an extremely complex environment. In times like these, it is important to remain rigorous, grounded and, above all, focused on our brand strategy, guided by our long- term vision. The recent opening of our Fifth Avenue flagship store, the strongest expression of the Moncler universe, and our ongoing global campaign ‘Pioneers in Moncler’ , deeply rooted in our core DNA, are a clear testament to this commitment. At Stone Island, with the opening of our new Rome flagship store and campaigns that connect with the worlds of music, sports and art, we continue to nurture the brand, pursuing a healthy growth path. Knowing who we are and where we come from is what allows us to look ahead with clarity and intention. We will keep moving forward with purpose and discipline, shaping the future of our brands with the same passion and ambition that brought us here. ” 221 OCTOBER 20269M 2026 INTERIM MANAGEMENT STATEMENT
Page 3
1,553.2 1,589.2 288.1 306.2 9M 2025 9M 2026 1,841.3 1,895.4 +6% 514.2 499.6 101.4 105.9 Q3 2025 Q3 2026 615.6 605.5 0% 17% 83% +5% (1%) +8% +6% Q3 9M MONCLER GROUP | 9M 2026 REVENUES HIGHLIGHTS (1) (1) This applies to all pages of this presentation if not otherwise stated: comments at constant FX rates, rounded figures. EUR M; CFX GROWTH % % on total 16% 84% 16% 84% 16% 84% Stone Island Moncler 321 OCTOBER 20269M 2026 INTERIM MANAGEMENT STATEMENT 9M 2026 Group revenues reached EUR 1,895.4m, +6% vs. 9M 2025. Q3 Group revenues were EUR 605.5m, flat YoY. These results include Moncler brand revenues of EUR 499.6m, down 1% YoY, and Stone Island brand revenues of EUR 105.9m, up 5% YoY.
Page 4
NEW YORK IN MONCLER 4 Q3 HIGHLIGHTS 21 OCTOBER 20269M 2026 INTERIM MANAGEMENT STATEMENT THE UNTOLD STORY ‘ NEW YORK IN MONCLER’ | A RETROSPECTIVE OF PIONEERING NEW YORK MOMENTS After decades of shared moments, Moncler told the story of its relationship with New York through one of the largest open -air public exhibitions the city has ever seen. From September 9th–13th, the New York in Moncler retrospective turned public spaces across the city into an open -air gallery, culminating in a dedicated space in Grand Central Terminal’s Vanderbilt Hall. The moments on display traced how Moncler’s alpine- inspired design came to be celebrated not only as technical mountain apparel but also as a global metropolitan symbol of style, protection and human connection. The exhibition was preceded by a film released on September 3 rd, narrated by iconic New Yorker and friend of the brand Alicia Keys over her new, unreleased music. Photographer Platon also shot a series of “In Moncler” portraits of friends of the brand and global icons, united by creativi ty, talent and a shared love for New York.
Page 5
NEW YORK IN MONCLER 5 Q3 HIGHLIGHTS 21 OCTOBER 20269M 2026 INTERIM MANAGEMENT STATEMENT MONCLER FIFTH AVENUE | THE BRAND’S LARGEST- EVER GLOBAL FLAGSHIP XXXXXXXXX During the New York in Moncler retrospective, on September 10th Moncler unveiled its largest-ever global flagship on Fifth Avenue. Designed as a destination for community, discovery and cultu ral exchange, the store hosts a year-round calendar of experiences, Fifth Avenue-exclusive products, services and activations. Located in the General Motors Building at 767 Fifth Avenue and designed by long- time partners Gilles & Boissier, the two -level, 23,680-square-foot space reinterprets Moncler’s alpine heritage through the architectural language of New York, with soaring volumes, natural stone and textured glass. The ground floor hosts Moncler C ollection, Moncler Genius and footwear; the second floor is entirely dedicated to Moncler Grenoble. Fifth Avenue clients also had early access to the second LoveFrom, Moncler collection, co-created with Jony Ive’s LoveFrom collective: a modular system of four outerwear silhouettes. The opening also marked the debut of Moncler to Measure, a made-to-order atelier and the highest expression of Moncler’s craftsmanship, where clients personalise four signature outerw ear styles through a selection of exceptional fabrics, artisanal finishes and refined details.
Page 7
MONCLER | OTHER Q3 HIGHLIGHTS MONCLER X FRAGMENT BY HIROSHI FUJIWARA XXXX The long-standing collaboration entered a new chapter with a collection where minimalism meets the mountains, stripping away the noise of the city and inviting the wearer to ‘Rise Above the Chaos’. The collection took the vintage Japanese souvenir jacket as its point of departure. Central to Fujiwara’s personal style, the silhouette was reimagined for Moncler as a reversible design featuring an embroidered map connecting Japan to Italy. A defining motif throughout the collection was a deep green and black dégradé check in brushed cotton flannel. The offering focused on lightweight dressing, from windbreakers and shirt jackets to jerseys, zip-up hoodies, T-shirts and trousers, alongside the first-ever FRGMTmini collection for kids. MONCLER FOOTWEAR | THE MONCLER CITYTREK Drawing on vintage trail sneakers, Moncler introduced the CityTrek, a technical, outdoor-inspired sneaker elevated through premium craftsmanship for all-day comfort and city exploration. Its refined mixed-material upper combines nylon side panels, suede trim, a breathable Cordura® front panel and a smooth leather back tab. A cushioned midsole and a natural gum Vibram® outsole provide lasting comfort, while a chalky stone palette and luxurious materials express understated elegance. MONCLER FOOTWEAR | THE MONCLER TRAILGRIP GTX X CLARKS WALLABEE Moncler and Clarks Originals joined forces to transform the legendary Wallabee into a performance-ready style, combining timeless craftsmanship with technical innovation – an icon reimagined for new terrain. Crafted in soft khaki or beige suede, it features a waterproof GORE-TEX lining and Moncler’s signature Trailgrip Vibram® outsole for grip and performance from city streets to mountain trails. 721 OCTOBER 20269M 2026 INTERIM MANAGEMENT STATEMENT
Page 8
OPENING OF THE NEW FLAGSHIP STORE IN ROME From September 21st to November 6th, 2026, Stone Island is taking over The Corner Shop at Selfridges, London, with SELECTED WORKS ’982–’026 STONE ISLAND: THE COLLECTOR SERIES, an installation by Willo Perron presenting the brand’s first formal collaboration with the independent collectors who have helped shape its culture. The project brings together collectors’ archive pieces, current collections and exclusive products, alongside a programme of activations across film, music, art and conversation, including PASSPORT, a documentary by Glenn Kitson following eight Stone Island collectors across seven countries. OPENING OF THE NEW FLAGSHIP STORE IN ROME THE CALM AND THE CHAOS is a short film by Isaac Lamb, who spent over six months travelling across Europe and North America with bands High Vis, Angel Du$t, Knocked Loose and Haywire 617, capturing the energy of the contemporary hardcore scene between the chaos of the shows and the calm of the downtime. Through the film, Stone Island continued its exploration of communities whose values resonate with its own philosophy of experimentation, authenticity and continual evolution. Band members were photographed wearing a mix of current and vintage Stone Island garments. STONE ISLAND SOUND | THE CALM AND THE CHAOS STONE ISLAND | Q3 HIGHLIGHTS OPENING OF THE NEW FLAGSHIP STORE IN ROME Located in a historic Roman palazzo on Via del Babuino and conceived in collaboration with OMA/AMO, the new Rome flagship translates Stone Island’s culture of research and material innovation into a space designed for product discovery, dialogue and community. Balancing contemporary design with respect for the historic architecture, the project reflects Stone Island’s ongoing exploration of how architecture can express the same principles that define its products: functionality, continuous evolution and an uncompromising approach to material research. SELFRIDGES THE CORNER SHOP | SELECTED WORKS '982 –'026 STONE ISLAND: THE COLLECTOR SERIES 21 OCTOBER 20269M 2026 INTERIM MANAGEMENT STATEMENT 8
Page 9
MONCLER | REVENUES BY GEOGRAPHY MONCLER REVENUES (EUR M; CFX GROWTH %) 9M 2026 Moncler brand revenues reached EUR 1,589.2m, +6% vs. 9M 2025. Q3 revenues were down 1% YoY, impacted by a slowdown in the DTC (1) channel. ASIA (which includes APAC, Japan and Korea) was up 5% in Q3 YoY. All countries delivered positive growth in the quarter. EMEA revenues were down 8% in Q3 YoY, due to softer local demand and continued subdued tourist flows, particularly from Asia. The AMERICAS were up 2% in Q3 YoY, slightly decelerating sequentially, mainly due to slower traffic during the summer period. 752.6 822.7 581.0 546.7 219.6 219.8 9M 2025 9M 2026 1,553.2 1,589.2 +6% 226.9 229.8 215.5 197.0 71.8 72.8 Q3 2025 Q3 2026 514.2 499.6 (1%) % on total +2% +5% +5% +15% Q3 9M Americas EMEA Asia (8%) (5%) 44% 42% 14% 46% 39% 15% 48% 37% 14% 52%34% 14% 921 OCTOBER 20269M 2026 INTERIM MANAGEMENT STATEMENT (1) The Direct -to-Consumer (DTC) channel includes revenues from DOS, direct online and e- concessions.
Page 10
MONCLER | REVENUES BY CHANNEL MONCLER REVENUES (EUR M; CFX GROWTH %) Moncler DTC revenues rose to EUR 1,290.8m in 9M 2026, +6% vs. 9M 2025. In Q3, revenues in this channel were down 2% YoY, due to a challenging operating environment and continued subdued tourist flows, particularly in the EMEA region. Asia continued to outperform the other regions, with APAC, Japan and Korea all delivering positive growth in the quarter. The physical channel continued to outperform the online channel. WHOLESALE revenues reached EUR 298.5m in 9M 2026, up 3% vs. 9M 2025. In Q3, revenues in this channel were up 2% YoY, notwithstanding the ongoing efforts to upgrade the quality of the distribution through further network optimisation. 1,255.4 1,290.8 297.8 298.5 9M 2025 9M 2026 1,553.2 1,589.2 +6% 372.3 357.6 142.0 142.0 Q3 2025 Q3 2026 514.2 499.6 (1%) % on total +2% 28% 72% 28% 72% (2%) +3% +6% 19% 81% 19% 81% Wholesale DTC Q3 9M 1021 OCTOBER 20269M 2026 INTERIM MANAGEMENT STATEMENT
Page 11
74.2 86.4 196.2 198.3 17.7 21.5 9M 2025 9M 2026 288.1 306.2 +8% STONE ISLAND | REVENUES BY GEOGRAPHY STONE ISLAND REVENUES (EUR M; CFX GROWTH %) 9M 2026 Stone Island brand revenues reached EUR 306.2m, +8% vs. 9M 2025. Q3 revenues were up 5% YoY, with both the DTC and the wholesale channels growing in the quarter. ASIA (which includes APAC, Japan and Korea) was up 19% YoY in Q3, with all main countries delivering continued strong double-digit growth. EMEA revenues were flat YoY in Q3, reflecting a sequential slowdown in traffic in the DTC channel, also due to the decision to reduce markdown activity. The AMERICAS were up 13% YoY in Q3, driven by continued strong double-digit growth in the DTC channel. 21.9 26.0 72.9 72.5 6.6 7.3 Q3 2025 Q3 2026 101.4 105.9 +5% Americas EMEA Asia +13% +19% +26% +23% % on total 22% 72% 6% 25% 68% 7% 28% 65% 7% 0% +1% Q3 9M 26% 68% 6% 1121 OCTOBER 20269M 2026 INTERIM MANAGEMENT STATEMENT
Page 12
145.1 155.9 143.0 150.3 9M 2025 9M 2026 288.1 306.2 +8% STONE ISLAND | REVENUES BY CHANNEL STONE ISLAND REVENUES (EUR M; CFX GROWTH %) Stone Island DTC revenues rose to EUR 155.9m in 9M 2026, +11% vs. 9M 2025. In Q3, revenues in this channel remained on a positive growth trajectory (+2% YoY), despite slower traffic and the impact of lower markdown activity in the EMEA region. Asia and the Americas continued to outperform, with both regions growing at a double-digit pace. Full-price sales continued to grow at a double-digit pace. WHOLESALE revenues reached EUR 150.3m in 9M 2026, up 6% vs. 9M 2025. In Q3, revenues in this channel increased by 7% YoY, supported by positive underlying growth, but also by a different timing of deliveries in Q3 vs. Q4 compared with last year, while the Group continued its efforts to improve the quality of the distribution network. 46.0 46.7 55.4 59.2 Q3 2025 Q3 2026 101.4 105.9 +5% Wholesale DTC +7% +2% +6% +11% 55%45% 56%44% 50%50% 49%51% % on total Q3 9M 1221 OCTOBER 20269M 2026 INTERIM MANAGEMENT STATEMENT
Page 13
GROUP MONO -BRAND STORE NETWORK MONCLER DOS: 305 STONE ISLAND DOS: 94 1321 OCTOBER 20269M 2026 INTERIM MANAGEMENT STATEMENT 30.09.2026 30.06.2026 31.12.2025 MONCLER STONE ISLAND MONCLER STONE ISLAND MONCLER STONE ISLAND ASIA 150 53 147 54 146 54 EMEA 97 33 97 33 98 32 AMERICAS 58 8 54 8 51 9 RETAIL 305 94 298 95 295 95 WHOLESALE 43 11 44 11 49 11 Note: DOS refers to directly operated stores. Wholesale includes wholesale monobrand stores, wholesale airports and shop -in-shops.
Page 14
APPENDIX 1 421 OCTOBER 20269M 2026 INTERIM MANAGEMENT STATEMENT
Page 15
2024-2026 HALF -YEAR INCOME STATEMENT H1 2026 H1 2025 H2 2025 FY 2025 H1 2024 H2 2024 FY 2024 EUR m % on rev. EUR m % on rev. EUR m % on rev. EUR m % on rev. EUR m % on rev. EUR m % on rev. EUR m % on rev. REVENUES 1,289.9 100.0% 1,225.7 100.0% 1,906.5 100.0% 3,132.1 100.0% 1,230.2 100.0% 1,878.8 100.0% 3,108.9 100.0% YoY performance +5% 0% +1% +1% +8% +2% +4% GROSS PROFIT 995.2 77.2% 941.9 76.9% 1,504.3 78.9% 2,446.2 78.1% 943.1 76.7% 1,483.5 79.0% 2,426.6 78.1% Selling expenses (446.3) (34.6%) (429.5) (35.0%) (526.5) (27.6%) (956.0) (30.5%) (419.3) (34.1%) (518.1) (27.6%) (937.3) (30.2%) G&A expenses (180.4) (14.0%) (170.4) (13.9%) (187.0) (9.8%) (357.4) (11.4%) (166.3) (13.5%) (185.3) (9.9%) (351.7) (11.3%) Marketing expenses (123.1) (9.5%) (117.3) (9.6%) (102.1) (5.4%) (219.4) (7.0%) (98.8) (8.0%) (122.4) (6.5%) (221.2) (7.1%) EBIT 245.4 19.0% 224.8 18.3% 688.6 36.1% 913.4 29.2% 258.7 21.0% 657.7 35.0% 916.3 29.5% Net financial income / (expenses) (12.1) (0.9%) (6.5) (0.5%) (19.7) (1.0%) (26.2) (0.8%) (1.6) (0.1%) (5.0) (0.3%) (6.5) (0.2%) EBT 233.3 18.1% 218.3 17.8% 668.9 35.1% 887.2 28.3% 257.1 20.9% 652.7 34.7% 909.8 29.3% Taxes (68.6) (5.3%) (64.8) (5.3%) (195.7) (10.3%) (260.5) (8.3%) (76.4) (6.2%) (193.9) (10.3%) (270.2) (8.7%) Tax rate 29.4% 29.7% 29.3% 29.4% 29.7% 29.7% 29.7% GROUP NET RESULT 164.7 12.8% 153.5 12.5% 473.2 24.8% 626.7 20.0% 180.7 14.7% 458.9 24.4% 639.6 20.6% YoY performance +7% (15%) +3% (2%) +24% (2%) +5% 1521 OCTOBER 20269M 2026 INTERIM MANAGEMENT STATEMENT
Page 16
2026 REVENUES QUARTERLY PERFORMANCE Q1 26 vs. 25 Q2 26 vs. 25 Q3 26 vs. 25 EUR m 2026 2025 cFX 2026 2025 cFX 2026 2025 cFX MONCLER 766.5 721.8 12% 323.1 317.2 3% 499.6 514.2 (1%) STONE ISLAND 114.1 107.3 11% 86.3 79.4 11% 105.9 101.4 5% GROUP TOTAL 880.6 829.0 12% 409.3 396.6 5% 605.5 615.6 0% Q1 26 vs. 25 Q2 26 vs. 25 Q3 26 vs. 25 EUR m 2026 2025 cFX 2026 2025 cFX 2026 2025 cFX DTC 674.5 630.5 14% 258.7 252.7 3% 357.6 372.3 (2%) WHOLESALE 92.1 91.3 3% 64.4 64.5 3% 142.0 142.0 2% MONCLER 766.5 721.8 12% 323.1 317.2 3% 499.6 514.2 (1%) ASIA 433.0 380.8 22% 159.9 145.0 12% 229.8 226.9 5% EMEA 238.5 244.3 (1%) 111.2 121.1 (8%) 197.0 215.5 (8%) AMERICAS 95.0 96.7 7% 51.9 51.1 4% 72.8 71.8 2% MONCLER 766.5 721.8 12% 323.1 317.2 3% 499.6 514.2 (1%) Q1 26 vs. 25 Q2 26 vs. 25 Q3 26 vs. 25 EUR m 2026 2025 cFX 2026 2025 cFX 2026 2025 cFX DTC 60.6 55.3 17% 48.6 43.9 15% 46.7 46.0 2% WHOLESALE 53.5 52.0 4% 37.7 35.6 6% 59.2 55.4 7% STONE ISLAND 114.1 107.3 11% 86.3 79.4 11% 105.9 101.4 5% ASIA 35.5 31.2 25% 24.9 21.1 25% 26.0 21.9 19% EMEA 71.1 69.4 3% 54.7 53.8 2% 72.5 72.9 0% AMERICAS 7.5 6.6 24% 6.6 4.5 49% 7.3 6.6 13% STONE ISLAND 114.1 107.3 11% 86.3 79.4 11% 105.9 101.4 5% 1621 OCTOBER 20269M 2026 INTERIM MANAGEMENT STATEMENT
Page 17
2026 REVENUES YTD PERFORMANCE Q1 26 vs. 25 H1 26 vs. 25 9M 26 vs. 25 EUR m 2026 2025 cFX 2026 2025 cFX 2026 2025 cFX MONCLER 766.5 721.8 12% 1,089.6 1,039.0 9% 1,589.2 1,553.2 6% STONE ISLAND 114.1 107.3 11% 200.3 186.7 11% 306.2 288.1 8% GROUP TOTAL 880.6 829.0 12% 1,289.9 1,225.7 9% 1,895.4 1,841.3 6% Q1 26 vs. 25 H1 26 vs. 25 9M 26 vs. 25 EUR m 2026 2025 cFX 2026 2025 cFX 2026 2025 cFX DTC 674.5 630.5 14% 933.2 883.2 10% 1,290.8 1,255.4 6% WHOLESALE 92.1 91.3 3% 156.4 155.8 3% 298.5 297.8 3% MONCLER 766.5 721.8 12% 1,089.6 1,039.0 9% 1,589.2 1,553.2 6% ASIA 433.0 380.8 22% 592.9 525.7 19% 822.7 752.6 15% EMEA 238.5 244.3 (1%) 349.7 365.4 (4%) 546.7 581.0 (5%) AMERICAS 95.0 96.7 7% 147.0 147.9 6% 219.8 219.6 5% MONCLER 766.5 721.8 12% 1,089.6 1,039.0 9% 1,589.2 1,553.2 6% Q1 26 vs. 25 H1 26 vs. 25 9M 26 vs. 25 EUR m 2026 2025 cFX 2026 2025 cFX 2026 2025 cFX DTC 60.6 55.3 17% 109.2 99.1 16% 155.9 145.1 11% WHOLESALE 53.5 52.0 4% 91.1 87.6 5% 150.3 143.0 6% STONE ISLAND 114.1 107.3 11% 200.3 186.7 11% 306.2 288.1 8% ASIA 35.5 31.2 25% 60.4 52.3 25% 86.4 74.2 23% EMEA 71.1 69.4 3% 125.8 123.3 3% 198.3 196.2 1% AMERICAS 7.5 6.6 24% 14.2 11.1 35% 21.5 17.7 26% STONE ISLAND 114.1 107.3 11% 200.3 186.7 11% 306.2 288.1 8% 1721 OCTOBER 20269M 2026 INTERIM MANAGEMENT STATEMENT
Page 18
FINANCIAL CALENDAR, SHAREHOLDING, IR CONTACTS IR CONTACTS investor.relations@moncler.com ELENA MARIANI Moncler Group Strategic Planning and Investor Relations Director elena.mariani@moncler.com GAIA PICCOLI Moncler Group Strategic Planning and Investor Relations Senior Manager gaia.piccoli@moncler.com (1) Last update 24.08.2026 . SHAREHOLDING (1) % N. SHARES (M) Double R S.r.l. 18.2% 50.1 Morgan Stanley 8.6% 23.6 Capital Research and Management Company 5.2% 14.3 BlackRock Inc. 5.1% 14.0 Venezio Investments Pte. Ltd. 3.1% 8.5 Treasury Shares 1.0% 2.8 Other Shareholders 58.8% 161.6 TOTAL 100.0% 274.8 1821 OCTOBER 20269M 2026 INTERIM MANAGEMENT STATEMENT FINANCIAL CALENDAR 18.02.2027 FY 2026 Consolidated Financial Results 21.04.2027 Q1 2027 Interim Management Statement 22.07.2027 H1 2027 Financial Results 21.10.2027 9M 2027 Interim Management Statement
Page 19
DISCLAIMER This presentation is being furnished to you solely for your information and may not be reproduced or redistributed to any oth er person. This presentation might contain certain forward- looking statements that reflect the Company’s management’s current views with respect to future events and financial and operational performance of the Company and its subsidiaries. These forward-looking statements are based on Moncler’s current expectations and projections about future events. Because these forward -looking statements are subject to risks and uncertainties, actual future results or performance may differ materially from those expressed in or implied by these statements due to any number of different factors, many of which are beyond the ability of Moncler to control or estimate. You are cautioned not to place undue reliance on the forward- looking statements contained herein, which are made only as of the date of this presentation. Moncler does not undertake any obligation to publicly release any updates or revisions to any forward- looking statements to reflect events or circumstances aft er the date of this presentation. Any reference to past performance or trends or activities of Moncler shall not be taken as a representation or indication that s uch performance, trends or activities will continue in the future. This presentation does not constitute an offer to sell or the solicitation of an offer to buy the Group’s securities, nor shall the document form the basis of or be relied on in connection with any contract or investment decision relating thereto, or constitute a recommendation regarding the securities of Moncler. Moncler’s securities referred to in this document have not been and will not be registered under the U.S. Securities Act of 1 933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Luciano Santel, the Manager in charge of preparing the corporate accounting documents, declares that, pursuant to art. 154-bis, paragraph 2, of the Legislative Decree no. 58 of February 24, 1998, the accounting information contained herein corresponds to document results, books and accounting records. 1921 OCTOBER 20269M 2026 INTERIM MANAGEMENT STATEMENT