The Board of Directors of Prada SpA approved the Consolidated Financial Results for the year 2018, with Net Revenues of Euro 3,142 million, up by 6%, driven by a good performance of the Retail channel, which was up by 7%. Wholesale was almost flat, up by 1%, due to a selective commercial strategy.
Growth was registered across all markets – +10% in Asia Pacific, +4% in the American market, +3% in Europe, +7% in Japan, and + 5% in the Middle East – for both Prada and Miu Miu. Both brands grew by 7% and 2% respectively, driven by a good performance in all product categories for Prada and especially in Ready-to-Wear for Miu Miu.
Financial highlights include EBITDA of Euro 551 million (18% of Revenues), EBIT of Euro 324 million (10% of Revenues), Net Income of Euro 205 million (7% of Revenues) and a good Operating Cash Flow generation, at Euro 365 million.
Investments amounted to Euro 284 million and 797 new jobs were also created in the 2018 financial period.
(NOTE: all above data is at constant exchange rate).
Patrizio Bertelli, CEO of the Prada Group, declared: “The results of 2018 demonstrate that our recent initiatives have been met with a positive reaction by the market, with a return in terms of revenue growth. We are entering a new phase of strategic renewal, building on respect for our history to create the future of the Group”.
Prada Spa approves the Group’s 2018 financial results
