HK Stock Market Move | PRADA (01913) drops nearly 7% after earnings, with a 25% year-on-year increase in net profit last year. The company points out that the market situation in the Asia Pacific region has become even more severe.

PRADA (01913) fell nearly 7% after the results, dropping 6.95% to HK$63.55 at the time of writing, with a turnover of HK$171 million. On the news front, PRADA announced its annual results for 2024, with net profit of 5.432 billion euros, an increase of 17% year-on-year at fixed exchange rates, marking double-digit growth for four consecutive years. Net income amounted to 839 million euros, up 25%, with earnings per share of 0.328 euros. A final dividend of 0.164 euros was announced. At the brand level, Prada's retail sales increased by 4.2% in the 12-month period, maintaining a stable growth trend. Miu Miu's retail sales increased by 93.2% in 2024, reaching a historical high. PRADA mentioned that despite the more challenging market conditions in the Asia-Pacific region, retail sales improved significantly in the fourth quarter, with Japan remaining the most outstanding region, supported by strong domestic demand and robust tourist inflows. While the growth rate in the fourth quarter slowed compared to the third quarter, it still recorded high growth. Additionally, it was reported that insiders revealed that PRADA Group has agreed to acquire Valentino from Capri Holdings Limited for $1.6 billion, with the transaction nearing completion.