The Board of Directors of Prada S.p.A. approved the Consolidated Financial Results for the year 2017, characterized by clear signs of positive impacts showing in the second part of 2017. The Net Revenues were 3.057 billion, with a slight decrease (-2% at constant exchange rates) compared to 2016. Positive performance in the Ready-to-Wear – both for Prada and Miu Miu -, leather goods progressively recovering volumes thanks to a wider product offer covering all strategic price ranges, 19% growth in Wholesale benefitting from e-tailers, Gross Margin progression (+1%) thanks to an increase in full price sales and markdown reduction, net income to Euro 249 million, 8.1% of revenues (8.2% in 2016), strong Operating Cash Flow generation at Euro 447 million, cost rationalization programme progressing well have been, in a nutshell, the factors which characterized the Group’s 2017 Financial Results.
Patrizio Bertelli, CEO of the Prada Group, declared: “I am satisfied with the progress made in 2017: in the second part of the year and in the first months of 2018 sales trends have been progressively improving, thus demonstrating the first significant results from our ongoing strategic initiatives across the Group throughout the years. I would like to thank all Prada Group colleagues for their deep dedication over recent years aimed at returning the Group to growth. I am confident this is the beginning of a new phase of development”.
Prada S.p.A. approves
the 2017 financial results
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