PRADA SPA APPROVES THE GROUP'S 2018 RESULTS AS OF 31 DECEMBER 2018
PRADA SPA APPROVES THE GROUP’S 2018 FINANCIAL RESULTS
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”.