PRADA S.P.A.: FINANCIAL RESULTS AS OF 30 JUNE 2021
Milan, 29 July 2021 – The Prada S.p.A. Board of Directors approved the Consolidated Financial Results for the Half Year, ended 30 June 2021, highlighting the following topics:
As a consequence of the above, the following results were achieved:
The Prada Group has continued to strengthen and invest in its brands, through strict control of the distribution channels on-line and off-line as well as the enhancement of the product offer.
This resulted in a strong revenue growth - with sales well above 2019 levels despite the ongoing effect of the pandemic.
EBIT returned to pre-Covid levels and the strong operating cash flow generation contributed to significantly improve the Net Financial Position.
Patrizio Bertelli, Chief Executive Officer of the Prada Group, commented:
“The commitment to our brands and stronger ties with our customers have delivered robust growth in sales across markets and product categories. We improved gross margins as well as the Group’s profitability, despite the uncertain environment. The sales momentum will stay strong in the second half of the year. Our brands have plenty of potential and we will unlock it over the medium term. I look forward to updating the market on this and other topics at a Capital Markets Day that will take place in the autumn”.