On July 28th, 2022 – Prada S.p.A. approved the financial results for the half year ended 30 June 2022. The Group reported a strong semester underpinned by strategic delivery and brand momentum, with Net Revenues at €1.9 bln (+22% yoy), Retail Sales at €1.7 bln (+26% yoy), Gross Margin at 77.7% and Adjusted EBIT margin at 17.4%. The Group recorded a strong performance across all product categories, with Leather Goods +18%, RTW +32% and Footwear +39% yoy. (All growth % at constant currency).
Patrizio Bertelli, Prada Group CEO, 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.”