Prada Group Commercial and Financial Update
The Board of Directors of Prada S.p.A. today examined the performance of the Group in the second semester just ended.
- Progressive volume recovery in all geographical areas, with marked revenue growth in Asia Pacific
- Positive margins in the second half of the year allowed the Group to reach positive EBIT for FY2020
- Improved Net Financial Position vs 2019, due to cash generation and inventory reduction
Patrizio Bertelli, Prada S.p.A. CEO, commented: “I am very satisfied with how we have faced the serious difficulties of the year just ended and how, despite the persistent uncertainty which will likely continue for the next months, we have managed to deliver positive results. Thanks to the generous commitment of all Group staff, we were able to respond rapidly and consistently to market changes, which has been appreciated by all of our customers.”