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Prada Group 9M 2024 Revenue (audio reply)

The audio replay for
Prada Group 9M 2024
is available here (Chrome recommended)

NET REVENUES ⁽¹⁾

	9M-23 € mln	9M-24 € mln	change at reported fx	change at constant fx
Net Revenues	3,344	3,829	*+15%*	*+18%*
Retail Sales	2,979	3,425	+15%	+18%
Wholesale Sales	291	314	+8%	+9%
Royalties	73	91	+24%	+24%

¹ Unaudited figures

«We are pleased to see that our strategy keeps delivering above-market performance at both Prada and Miu Miu. We are operating in a challenging environment, for the entire luxury value chain. Nonetheless, we continue to see opportunities for our brands and remain committed to our strategic investment plan in retail, technology and industrial capabilities to support the long-term, sustainable growth of our Group and our partners.»

PATRIZIO BERTELLI, Prada Group Chairman and Executive Director

«We progressed through the year with another quarter of high-quality, like-for-like growth, supporting our positive trajectory in both revenue and margins. Our brands remain desirable and relevant, thanks to the strength and consistency of their identity, creativity and sharp positioning. Prada recorded a solid performance, showing resilience against sector headwinds, and Miu Miu upheld its thriving growth momentum. Despite the challenging backdrop, we are confident in our ability to navigate the industry complexities, and remain committed to our ambition to deliver solid, sustainable and above-market growth.»

ANDREA GUERRA, Group Chief Executive Officer

9M 2024 SALES Retail Sales Total € 3,425 mln - Wholesale Sales Total € 314 mln

Retail Sales By Brand⁽¹⁾

€ mln % at constant fx	9M-23	9M-24	9M-24 vs. 9M-23	Q3-24 vs. Q3-23

PRADA	2,500	2,534	+4%	+2%
MIU MIU	446	854	+97%	+105%
CHURCH'S	19	22	+11%	+4%
OTHER ^(*)	14	15	+10%	+6%

Total	2,979	3,425	+18%	+18%

^(*) includes Marchesi and Car Shoe

⁽¹⁾ Unaudited figures

Retail Sales By Geography ⁽¹⁾

€ mln % at constant fx	9M-23	9M-24	9M-24 vs. 9M-23	Q3-24 vs. Q3-23

ASIA PACIFIC	1,043	1,139	+12%	+12%
EUROPE	941	1,089	+18%	+18%
AMERICAS	536	576	+8%	+10%
JAPAN	334	466	+53%	+48%
MIDDLE EAST	125	154	+24%	+36%
Total	2,979	3,425	+18%	+18%

⁽¹⁾ Unaudited figures

PROFIT & LOSS H1 2024

€ mln	H1 2022		H1 2023		H1 2024
Net revenues	1,901	*100%*	2,232	*100%*	2,549	*100%*
COGS	-423	-22.3%	-439	-19.7%	-515	-20.2%
Gross profit	1,477	*77.7%*	1,793	*80.3%*	2,034	*79.8%*
Selling	-796	-41.8%	-895	-40.1%	-978	-38.4%
Advertising & promotion	-155	-8.2%	-187	-8.4%	-219	-8.6%
Design and product development	-69	-3.6%	-72	-3.2%	-82	-3.2%
G&A	-127	-6.7%	-148	-6.6%	-179	-7.0%
Operating expenses	-1,147	*-60.3%*	-1,302	*-58.3%*	-1,459	*-57.2%*
EBIT Adj.	331	*17.4%*	491	*22.0%*	575	*22.6%*
Non-recurring items	-26	-1.4%	0	0.0%	0	0.0%
EBIT	305	*16.0%*	491	*22.0%*	575	*22.6%*
Total financial expenses	-27	-1.4%	-46	-2.1%	-38	-1.5%
EBT	277	14.6%	445	19.9%	537	21.1%
Income Taxes	-88	-4.6%	-138	-6.2%	-151	-5.9%
Minority Income	1	0.1%	1	0.1%	2	0.1%
Group Net Income / (Loss)	188	*9.9%*	305	*13.7%*	383	*15.0%*

Profit & Loss FY 2023

PROFIT & LOSS FY 2023

€ mln	FY 2022		FY 2023
Net revenues	4,201	*100%*	4,726	*100%*
COGS	-889	-21.2%	-925	-19.6%
Gross profit	3,312	*78.8%*	3,802	*80.4%*
Selling	-1,704	-40.6%	-1,873	-39.6%
Advertising & promotion	-359	-8.5%	-420	-8.9%
Design and product development	-137	-3.3%	-151	-3.2%
G&A	-266	-6.3%	-297	-6.3%
Operating expenses	-2,467	*-58.7%*	-2,740	*-58.0%*
EBIT Adj.	845	*20.1%*	1,062	*22.5%*
Non-recurring items	-69	-1.6%
EBIT	776	*18.5%*	1,062	*22.5%*
Total financial expenses	-65	-1.5%	-90	-1.9%
EBT	711	16.9%	971	20.6%
Income Taxes	-242	-5.8%	-298	-6.3%
Minority Income	4	0.1%	2	0.1%
Group Net Income / (Loss)	465	*11.1%*	671	*14.2%*
Total D&A	-734	17.5%	-705	14.9%

share price and shareholding structure

08 aug 2017 - 4:08 am

27,15 HKD +1,88%

FINANCIAL CALENDAR

Reports & Presentations

MARCH 07, 2024

2023 FY Results

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Audio Replay

APRIL 24, 2024

Annual General Meeting

APRIL 24, 2024

2024 Q1 Revenue

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Audio Replay

JULY 30, 2024

2024 Half-Year Results

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Audio Replay

OCTOBER 30, 2024

2024 9M Revenue

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30 October Prada Group 9M-24 Revenue Update

The silent period begins on 1 October (included) and ends on 30 October

2024 9M Revenue Press Release

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2024 9M Revenue Presentation

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Annual Report 2023

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Net Financial Position

Composition of the Group's Net Financial Position at period end

Amounts in thousands of Euro	30 Jun 2024⁽¹⁾	31 Dec 2023⁽¹⁾	31 Dec 2022⁽¹⁾	31 Dec 2021⁽¹⁾	31 Dec 2020⁽¹⁾	31 Dec 2019⁽¹⁾

Cash and cash equivalent and Financial receivable	661,629	689,521	1.094,971	982,917	443,517	423,448
Long term financial debt	-208,076	-338,422	-395,656	-492,801	-451,200	-584,141
Short term financial debt	-188,170	-154,191	-164,415	-252,463	-303,674	-244,851
Net financial position surplus/(deficit)	265,383	196,908	534,900	237,653	-311,357	-405,544

⁽¹⁾ the financial debt does not include the lease liability recognized under "IFRS 16 Leases"

The Group's financial debt is mainly composed of variable interest rates bank debt, whose risk of fluctuation is hedged by using derivative financial instruments, as explained in the Annual Report.

Financial debt

financial debt	30 Jun 2024	31 Dec 2023	31 Dec 2022	31 Dec 2021	31 Dec 2020	31 Dec 2019

variable interest rate	46%	54%	55%	82%	69%	56%
fixed interest rate	54%	46%	45%	18%	31%	44%