MONCLER: +17% 2016 profit

MONCLER closes the 2016 budget with a net profit of 196 million (+17%) after that turnover rose to 1.04 billion (+18%). For the 2017 provided a scenario for further growth by consolidating in key markets and development abroad.

Also the expansion plans of the categories complementary to the core activities, the focus on the consumer, with which they will establish direct contact, and sustainable development.

In the year adjusted ebit of Moncler rose to 313.4 million (+19%). The business of high end duvets invested 62 million mainly for the expansion of the retail network (mostly as a store in London, New York and Seoul).

The net financial position is positive for 105.8 million, from the previous net debt of 49.6 million.

Based on these results the Board of Directors has proposed a dividend of 0.18 euros per share, from 0.14 euro in 2015.

As reported by Reuters, the chief corporate officer Luciano Santel explained that most of the growth in 2016 is due to volumes, because prices have remained fairly stable.

Santel also explained that the group asked the Patent box (the tax regime that excludes from the tax base a portion of revenue from patents and trademarks) last year, then Italian Government response by 2017 atende. The tax rate will decrease by about 200 basis points thanks to lower income tax.

The cco added that it would be imprudent to think an improved ebitda in 2017, partly because the Group wants to continue investing.

The chief operating officer Roberto Eggs said that the Group has begun talks with Dufry to new store openings at airports. The timing will depend on the opportunity.

Based on performance and directions last night, at the end of the session the title Moncler registers an increase of 5.5% in the Milan stock at the price of 19 euros per share, scoring one of the biggest boosters of the price list. The Ftse Mib index rises instead of 2.1% (in the photo, a boutique opened in December in Hong Kong).