HIGHLIGHTS
Purpose and Values
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The audio replay for
Prada Group Q1 2024 Revenue is available here
consolidated financial results for the Q1 2024 Ended 31 March 2024
NET REVENUES
|
Q1-23 |
Q1-24 |
change at |
change at |
Net Revenues 1 |
1,065 |
1,187 |
+11% |
+16% |
Retail Sales |
953 |
1,071 |
+12% |
+18% |
Wholesale Sales |
91 |
90 |
-1% |
+0% |
Royalties |
21 |
25 |
+22% |
+22% |
1 Unaudited figures
«Our Group continues to make strategic progress as we invest for long-term, sustainable growth. Over the first quarter, we delivered a solid performance in a more challenging market environment. In this context, we have to maintain flexibility and agility to respond to constantly evolving industry dynamics while continuing to innovate and invest across our business, leveraging the strength of our reinforced organisation and the talent of our people.»
PATRIZIO BERTELLI, Prada Group Chairman and Executive Director
«Prada Group had a positive start to the year. During the first quarter Prada experienced solid and above-market growth against a high quarterly basis of comparison; Miu Miu’s strong performance is a testament to the strategy and disciplined execution implemented over the past years. We continue to progress in our journey towards retail excellence, enriching our product range and driving customer engagement to nurture our brands’ desirability. Sharpness of positioning, creativity and communication will be critical this year; while the industry is experiencing new dynamics, we retain our ambition to deliver solid, sustainable and above market growth.»
ANDREA GUERRA, Group Chief Executive Officer
Q1 2024 SALES Retail Sales Total € 1,071 mln - Wholesale Sales Total € 90 mln
Retail Sales By Brand
€ mln % at constant fx |
Q1 23 |
Q1 24 |
Q1 24 |
Q4 23 |
PRADA |
813 |
826 |
+7% |
+10% |
MIU MIU |
129 |
233 |
+89% |
+82% |
CHURCH'S |
6 |
7 |
+22% |
+3% |
OTHER (*) |
4 |
5 |
+14% |
+20% |
|
|
|
|
|
Total |
953 |
1,071 |
+18% |
+17% |
(*) includes Marchesi and Car Shoe
Retail Sales By Geography
€ mln % at constant fx |
Q1 23 |
Q1 24 |
Q1 24 |
Q4 23 |
ASIA PACIFIC |
360 |
396 |
+16% | +32% |
EUROPE |
259 |
295 |
+18% | +7% |
AMERICAS |
173 |
181 |
+5% | +4% |
JAPAN |
113 |
145 |
+46% | +38% |
MIDDLE EAST |
47 |
54 |
+15% | +8% |
Total |
953 |
1,071 |
+18% | +17% |
PROFIT & LOSS FY 2023
€ mln |
FY 2022 |
FY 2023 |
||
Net revenues |
4,201 |
100% |
4,726 |
100% |
COGS |
-889 |
-21.2% |
-925 |
-19.6% |
Gross profit |
3,312 |
78.8% |
3,802 |
80.4% |
Selling |
-1,704 |
-40.6% |
-1,873 |
-39.6% |
Advertising & promotion |
-359 |
-8.5% |
-420 |
-8.9% |
Design and product development |
-137 |
-3.3% |
-151 |
-3.2% |
G&A |
-266 |
-6.3% |
-297 |
-6.3% |
Operating expenses |
-2,467 |
-58.7% |
-2,740 |
-58.0% |
EBIT Adj. |
845 |
20.1% |
1,062 |
22.5% |
Non-recurring items |
-69 |
-1.6% |
|
|
EBIT |
776 |
18.5% |
1,062 |
22.5% |
| Total financial expenses | -65 | -1.5% | -90 | -1.9% |
| EBT | 711 | 16.9% | 971 | 20.6% |
Income Taxes |
-242 |
-5.8% |
-298 |
-6.3% |
Minority Income |
4 |
0.1% |
2 |
0.1% |
Group Net Income / (Loss) |
465 |
11.1% |
671 |
14.2% |
Total D&A |
-734 |
17.5% |
-705 |
14.9% |
FINANCIAL CALENDAR
APRIL 24, 2024
Annual General Meeting
JULY 30, 2024
2024 Half-Year Results
OCTOBER 30, 2024
2024 Q3 Revenue
share price and shareholding structure
08 aug 2017 - 4:08 am
27,15 HKD
+1,88%
Net Financial Position
Net Financial Position
Composition of the Group's Net Financial Position at period end
Amounts in thousands of Euro |
31 Dec 2023(1) |
31 Dec 2022(1) |
31 Dec 2021(1) |
31 Dec 2020(1) |
31 Dec 2019(1) |
Cash and cash equivalent and Financial receivable |
689,521 | 1.094,971 | 982,917 | 443,517 |
423,448 |
Long term financial debt |
-338,422 | -395,656 | -492,801 | -451,200 |
-584,141 |
Short term financial debt |
-154,191 | -164,415 | -252,463 | -303,674 |
-244,851 |
Net financial position surplus/(deficit) |
196,908 | 534,900 | 237,653 | -311,357 |
-405,544 |
(1) the financial debt does not include the lease liability recognized under "IFRS 16 Leases"
Financial debt
financial debt |
31 Dec 2023 |
31 Dec 2022 |
31 Dec 2021 |
31 Dec 2020 |
31 Dec 2019 |
variable interest rate |
54% | 55% | 82% | 69% |
56% |
fixed interest rate |
46% | 45% | 18% | 31% |
44% |
Composition of the Long Term Financial Debt at 31 December 2023 by maturity
Contacts
GROUP INVESTOR RELATIONS
investorrelations@pradagroup.com
Alberto Carlucci
alberto.carlucci@prada.com
Via Fogazzaro 28, 20135 Milan, Italy
Cynthia Cheng
cynthia.cheng@prada.com
8th Floor, One Taikoo Place, Taikoo Place,
979 King's Road, Quarry Bay, Hong Kong
FINANCIAL MEDIA RELATIONS
Marta Monaco
marta.monaco@prada.com
Via Orobia 3, 20139 Milan, Italy
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