Prada Group revenues surge 35% in Jan-Oct 2012

CONSOLIDATED NET REVENUES amount to € 2,339 million, up by 35% (+27% at constant exchange rates) on the € 1,730 million reported for the first nine months of prior year and confirming the trend already seen in the first half of the year.

EBITDA, representing 31% of consolidated net revenues, reached € 727.9 million with a 50% increase on 2011.

EBIT amounts to € 612.5 million, 26% of consolidated net revenues and up by 56% on the first nine months of prior year.

NET INCOME has increased by 50% from € 273.2 million in 2011 to € 408.6 million and represents 17.5% of consolidated net revenues.

The net financial position is positive and has improved from Euro 14 million at the start of February to Euro 211 million, benefiting from strong cash generation which has also made it possible to finance capex for the period and distribute dividends totaling Euro 131 million to the shareholders.

Analysis of revenues

Distribution channels

In line with the strategy pursued by the Group for several years now, in the first nine months of 2012, the retail channel again made the greatest contribution towards revenue growth. Sales made by Directly Operated Stores generated revenues of Euro 1,917 million, a 43% increase (+34% at constant exchange rates). Revenue growth has been achieved by both new stores – 63 new stores have opened in the last 12 months – and existing stores which, at constant exchange rates, have continued to register strong growth : +18%, Same Store Sales Growth.

The wholesale channel generated net revenues of €390 million and a 6% increase on prior year.

Brands

All of the Group’s brands performed well, especially Prada which enjoyed 39% growth. Meanwhile, Miu Miu grew by 21%, Church’s by 15% and Car Shoe by 8%.

Markets

Double digit growth – also at constant exchange rates – was achieved on all markets including Europe where revenues grew by 33% (+32% at constant exchange rates) thanks to the steady flow of tourists and Asia Pacific where revenues increased by 41% (+28% at constant exchange rates). Highly positive results were also achieved on the American market with revenues up by 28% (+16% at constant exchange rates) and in Japan where revenues grew by 27% (+15% at constant exchange rates).

Prada