NEWS

Milan, 28^th July 2022 - The Prada S.p.A. Board of Directors today reviewed and approved the Consolidated Financial Results for the Half Year ended 30^th June 2022.
 
The Group’s strong semester is underpinned by strategic delivery and continued brand momentum.

Key highlights - growth % at constant currency:

• Net Revenues of €1.9 bln, up 22% yoy
• Retail Sales of €1.7 bln, up 26% yoy and +38% on H1-19
• Strong performance across all product categories, with Leather Goods +18%, RTW +32%, and Footwear +39% yoy
• Enriched product offer and operational improvements drove Gross Margin to 77.7% and EBIT Adjusted Margin to 17.4%
• Net Cash position of €179 mln
• Continued progress in the execution of ESG strategy

 
The Group continues to execute its strategy, focusing on creativity, quality and customer experience and it is highly confident about the opportunities to further develop its brands.

Patrizio Bertelli, Prada Group Chief Executive Officer, commented: “In the first six months of 2022, Prada Group delivered growth in both revenue and profitability, continuing to invest with a long-term perspective in creativity, industrial know-how and product innovation. We keep building sustainability into the heart of our business; we want our actions to align with Prada’s distinctive identity, making us relevant and inspiring to customers. Thanks to our global presence and geographical distribution of sales, we have more than compensated the impact of the various lockdowns in Mainland China and sanctions on Russia, where we continue to support our people despite store closures. Although current trading is strong, the global political and economic outlook is very uncertain and provides ground for caution. Our position of strength gives us confidence to execute against our strategy to fully exploit our brands’ potential. We are confident that we will achieve our medium-term financial and operational targets.”