Purpose and Values
Milan, 18th January 2022 - The Prada Group’s second half of 2021 showed a robust business growth trend in terms of revenues, margins and cash generation, as it was anticipated last November during the Capital Markets Day.
Total Group revenues for the full year 2021 amounted to Euro 3,364 million up 41% compared to 2020 and 8% compared to 2019, both at constant exchange rates, boosted by the performance of the Retail channel.
Sales in DOS, including e-commerce, in the second half of the year, grew 27% vs 2020 and 21% vs 2019, both at constant exchange rates. A significant increase in EBIT- supported by the higher contribution from the Retail channel as well as by full-price sales - was also recorded. Rationalization of the Wholesale channel continues, consistent with the Group’s strategy. The strong cash flow generation enabled the Group to achieve a sound Net Financial surplus as of 31 December 2021.
Patrizio Bertelli, Prada Group’s Chief Executive Officer, declared:"2021 was a year full of challenges but we proved to be ready and quickly responded to the needs of an extremely dynamic market, putting in place actions that allowed us to understand changes in consumer behaviour effectively. The Prada Group has the capabilities and resources to set itself apart and deliver on its future growth objectives."