NEWS

Milan, 9^th March 2023 - The Prada S.p.A. Board of Directors today reviewed and approved the Consolidated Financial Results for the Full Year ended 31 December 2022.

KEY HIGHLIGHTS

• High desirability of both Prada and Miu Miu
  
  
• Net Revenues of €4.2 bln, up 21% yoy
  
  
• Retail Sales of €3.7 bln, up 24% yoy
  
  
• Continued strength across all products categories: Leather Goods +18%, Ready To Wear +27%, and Footwear +29% yoy
  
  
• Gross Margin at 78.8% of Revenues, equal to €3.3 bln
  
  
• EBIT Adjusted Margin at 20.1% of Revenues, equal to €845 mln
  
  
• Strengthened Net Cash Position of €535 mln
  
  
• Strong progress against remaining revenue target and ESG commitments set at November 2021 Capital Markets Day
  
  
• Fundamental governance changes to further evolve Prada Group

Patrizio Bertelli, Executive Director, commented: “Prada Group delivered excellent results in 2022, underpinned by brand momentum, greater client engagement and rigorous strategy execution. We intend to stay on a path of steady and sustainable growth as we work towards the full potential of our brands”.

Andrea Guerra, Group Chief Executive Officer, added: “The Prada Group’s growth potential is large, thanks the extraordinary creative vision and industrial strength. We will further invest in the desirability of our brands, in the renovation of our retail network and in manufacturing capabilities. Execution will remain critical in the coming years, and we shall continue to build retail excellence, developing more frequent and stronger connections with our clients”.