PRADA (01913) released its annual performance results, with a net profit of 5.432 billion euros, an increase of 17.0% year-on-year.

PRADA (01913) announced that for the 12-month period ending December 31, 2024, Prada Group achieved a net profit of 5.432 billion euros, an increase of 17.0% compared to 2023; EBIT was 1.28 billion euros, equivalent to 23.6% of net profit, an increase of 20.5% compared to 2023 (1.062 billion euros, equivalent to 22.5% of net profit); proposed dividend of 0.164 euros per share. The Prada Group reported that due to the strong brand appeal and strict execution, it has achieved positive growth in revenue and profitability, demonstrating solid performance and progress in its development journey. The net profit of the Group increased by 17.0% compared to 2023 at fixed exchange rates, far exceeding the market performance, achieving double-digit year-on-year growth for four consecutive years. At the brand level, Prada's retail net sales increased by 4.2% in the 12-month period, maintaining a steady growth momentum. Miu Miu's retail net sales increased by 93.2% in 2024, reaching a historical high and expanding the brand's visibility and scale to new heights. With significant investments in the brand, the EBIT margin (23.6%) further increased. At the end of the year, the Group's net cash position was 600 million euros, reflecting a capital cash outflow of 460 million euros. The Prada brand continues to deepen its cultural presence with its unique image and diverse DNA. Creative dialogues once again transformed into highly acclaimed men's and women's fashion shows. A balanced category mix continues to drive year-on-year growth. The leather goods category is becoming more diverse, with new products being well-received, classic styles continuing to sell well, and the creative and energetic ready-to-wear collection receiving continued praise. Iconic events and collaborations promote the brand's diversification, highlighting its cultural heritage; special events held in exclusive venues further enhance the global customer experience and enrich the brand narrative. Miu Miu's rebellious and subversive aesthetic continues to captivate audiences, making the brand a focal point and solidifying its positioning. Its direct and instinctive creativity is highly appreciated across all categories and regions; new and ongoing exclusive collaborations have far-reaching impact and attract new audiences. The deep connection between Miu Miu and culture has led to numerous artistic collaborations and special projects, sparking wide-ranging discussions on contemporary topics with a unique voice. The brand's fashion shows increasingly showcase cross-disciplinary fusion with multiple art fields, offering a deeper dimension for contemporary society to contemplate. Thanks to strategic efforts in recent years, Church's has made good progress, maintaining a positive growth momentum.