MILAN, May 12 (Reuters) – Moncler reports first quarter results exceeded expectations, confirming the expectations of profits and sales growth in the full year. Part of the growth in the first quarter, said a note, is due to the revaluation of some important currencies in which the group operates. “As a significant part of the costs incurred by Moncler is expressed in euro, the improvement in results and margins is also partly due to the performance of currencies”. The adjusted EBITDA (before non-monetary costs primarily related to stock option plans) rose to 65.7 million from EUR 45 million in the first quarter of 2014, with a margin of 32 , 7% from 31.0%. Revenues amounted to 201 million, an increase of 38% at current exchange rates and 30% at constant exchange rates. The forecast of six analysts gathered by Reuters converged on an average of 177.7 million in revenues and 56.3 million for EBITDA. Revenue from stores open at least 12 months increased by 25%, up from the fourth quarter of 2014, driven also by the excellent results of the months of January and February. “We are aware that the year has just begun and that the months that remain to be covered are very important to us, but we are confident that in 2015 Moncler will be able to show results in progress in terms of turnover and useful, “said in a statement the president and CEO Remo Ruffini. In the quarter, net profit rose by 69% to 39.6 million. More …
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