NEWS

Milan, 4^th March 2025 - The Prada S.p.A. Board of Directors reviewed and approved today the consolidated financial results for the full year ended 31 December 2024.

Key highlights (growth percentage at constant currency)

• Enduring brand relevance and disciplined execution drove positive trajectory on both revenue and margins
• Net Revenues of €5.4 bln, up 17% yoy, well above-market
• Retail Sales of €4.8 bln, up 18% yoy, driven by like-for-like, full price volumes; strong and consistent Q4, also up 18% yoy
• Another year of solid growth for Prada, with Retail sales up 4% yoy
• Record year for Miu Miu, with Retail growth at +93% yoy
• Double-digit growth in Asia Pacific, Europe, Japan and Middle East; Americas in sequential improvement, showing double-digit growth in H2
• Further margin expansion with EBIT Margin at 23.6%, €1.3 bln
• Group Net Income up 25% yoy, €839 mln
• Healthy Balance Sheet with Net Cash Position of €600 mln
• Continuous progress on the strategic investment plan with Capex of €493 mln

Patrizio Bertelli, Prada Group Chairman and Executive Director, commented: “We are pleased to see that our strategy continued to deliver above-market performance, notwithstanding the challenging environment. This success underscores the enduring relevance of our brands, which comes from an unwavering focus on product innovation, quality, craftmanship and a unique ability to read contemporaneity. Drawing on multi-year investment initiatives across industrial capacity and know-how, our manufacturing platform and our people continue to be a differentiator in an ever-evolving sector that demands quality, agility and efficiency. Furthermore, a strong link with culture and creative dynamism are distinctive elements of this Group and allow us to broaden boundaries, as evidenced by the participation to the 37th Americas Cup and the partnership to design the new NASA’s spacesuit. Our Group and its organisation have strengthened over the past years and notwithstanding the uncertainties around us, we have entered 2025 with confidence continuing to work and invest for long-term sustainable growth.”

Andrea Guerra, Group Chief Executive Officer, added: “We ended 2024 with very positive results across our brands, marking four consecutive years of double-digit, like-for-like growth, coupled with margin expansion and cash generation, resulting in a very sound balance sheet. We continued to make progress in terms of brand desirability, retail productivity and strength of our organisation, with disciplined and rigorous execution across the board. Over the year, Prada confirmed its solid growth trajectory and Miu Miu reached a whole new level of visibility and scale, driven by a well-diversified total look offering. Looking forward, while being mindful that the complex industry dynamics are likely to persist, our priorities remain unchanged. At Prada, we have a clear opportunity to continue to drive market share, while at Miu Miu we shall consolidate its success; to do that, we will continue to sharpen the positioning of our brands, to enrich product portfolios and to foster customer engagement. Our investments across retail, industrial capabilities and technology will continue to support our growth and the organisation in its evolutionary journey. For the year ahead, we retain our ambition to deliver solid, sustainable, and above-market growth.”