Moncler: shares jump after earnings beat estimates
(CercleFinance.com) - Moncler shares soared on Friday, up over 6% in Milan, after the Italian maker of luxury down jackets announced full-year earnings that beat market expectations.
Moncler's full-year 2020 results were significantly above expectations across all key indicators, with revenues of 1.4 billion euros beating the consensus by 4%, while EBIT of 368 million euros was 24% ahead of consensus.
Net profit of 300 million euros outpaced market forecasts by 54%, analysts also noted.
Moncler said its performance accelerated in the second half of the year, driven by its business in China and strong online sales.
The company also said it would propose a dividend of 0.45 euro, largely above the market's expectation of 0.30 euro.
According to RBC, the results demonstrate "focused execution and strong brand momentum, particularly in relation to demand generation for existing and new customers."
The shares rose to new peaks on Friday following the report, having now increased by 64% over the past six months.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
Moncler's full-year 2020 results were significantly above expectations across all key indicators, with revenues of 1.4 billion euros beating the consensus by 4%, while EBIT of 368 million euros was 24% ahead of consensus.
Net profit of 300 million euros outpaced market forecasts by 54%, analysts also noted.
Moncler said its performance accelerated in the second half of the year, driven by its business in China and strong online sales.
The company also said it would propose a dividend of 0.45 euro, largely above the market's expectation of 0.30 euro.
According to RBC, the results demonstrate "focused execution and strong brand momentum, particularly in relation to demand generation for existing and new customers."
The shares rose to new peaks on Friday following the report, having now increased by 64% over the past six months.
Copyright (c) 2021 CercleFinance.com. All rights reserved.