Moncler S.p.A. published the transcript of its “Full Year 2025 Financial Results Conference Call” held on Thursday, February 19, 2026. The call featured Chairman and CEO Remo Ruffini, Chief Corporate and Supply Officer Luciano Santel, Chief Business Strategy and Global Market Officer Roberto Eggs, Moncler Chief Brand Officer Gino Fisanotti, Stone Island CEO Robert Triefus, and Group Strategic Planning and Investor Relations Director Elena Mariani. Management reported FY2025 revenue of 3.13 billion euros, an EBIT margin of 29.2%, net cash of 1.5 billion euros and free cash flow of 529 million euros, highlighting a strong Q4 acceleration in DTC for both brands (Moncler DTC up 7%, Stone Island DTC up 16%). Ruffini said the results “demonstrate the quality of our operating execution and the resilience of our business model,” while also outlining a leadership transition with Leo Rongone set to join as Group CEO in April. “I am not stepping down and I am not stepping back,” Ruffini added, stating he will become Executive Chairman and continue to lead creative direction and strategy. The call also covered brand and product initiatives, including Moncler’s Warmer Together campaign, Moncler Grenoble activations and a return to the Winter Olympics via sponsorship of Team Brazil and athlete Lucas Pinheiro Braathen, plus Moncler Genius drops with Jil Sander, JW Anderson and A$AP Rocky. Fisanotti said Warmer Together “became the biggest campaign in the history of Moncler,” and noted knitwear and cut-and-sew progress, with “a really strong consumer reaction” and early traction in footwear, including the Altive Mid boot. Triefus said Stone Island’s improving momentum reflects a long-term strategy focused on product innovation, distribution quality and brand-building: “Rome wasn’t built in a day, and great brands weren’t built in a day either.” On 2026, Santel guided to capex returning to around 6% of revenues, marketing steady at 7% of sales, and low single-digit price increases of about 3% for both brands. He also flagged FX headwinds, with an expected roughly 4 percentage point negative impact on reported top line for the full year (around 6 percentage points in Q1), while aiming for a “negligible” margin impact. Eggs said trading momentum carried into early 2026, with acceleration from mid-December continuing through January and February, and noted Chinese demand was double-digit both onshore and offshore, with consumption roughly 70% in China and 30% outside. The full transcript can be accessed through the link below.

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