PRADA spa
PRESS RELEASEPRADA SPA APPROVES GROUP RESULTS AS OF 30 JUNE 2022
Strong semester underpinned by strategic delivery and brandmomentum
Currently on accelerated trajectory to achieve mid-term targets

Milan, 28th July 2022 - The Prada S.p.A. Board of Directors today reviewed and approved
the Consolidated Financial Results for the Half Year ended 30th June 2022.

Key highlights - growth % at constant currency:•Continued growth momentum with €1.9 bln Net Revenues, up 22% yoy•

Retail Sales of €1.7 bln, up 26% yoy and +38% on H1-19•

Strong performance across all product categories, with Leather Goods +18%, RTW+32%, and Footwear +39% yoy•

Enriched product offer and operational improvements drove Gross Margin to 77.7%
and EBIT Adjusted Margin 1 to 17.4%•Net Cash position of €179 mln•

Continued progress in the execution of ESG strategy

Patrizio Bertelli, Prada Group Chief Executive Officer, commented:“In the first six months of 2022, Prada Group delivered growth in both revenue and profitability,
continuing to invest with a long-term perspective in creativity, industrial know-how and productinnovation. We keep building sustainability into the heart of our business; we want our actions toalign with Prada’s distinctive identity, making us relevant and inspiring to customers. Thanks to
our global presence and geographical distribution of sales, we have more than compensated theimpact of the various lockdowns in Mainland China and sanctions on Russia, where we continue
to support our people despite store closures. Although current trading is strong, the global
political and economic outlook is very uncertain and provides ground for caution. Our position ofstrength gives us confidence to execute against our strategy to fully exploit our brands’ potential.
We are confident that we will achieve our medium-term financial and operational targets.”

1 EBIT Adjusted excludes Other non-recurring income and expenses that, for the six months ended June 30, 2022, consisted of €26
mln write-down of non-current assets in Russia.

Key figures:
Growth at constant currency

H1-22
€ mln

Changevs. H1-21

Changevs. H1-19

Net Revenues
Retail Sales
Wholesale SalesRoyalties

1,901
1,678
194
29

+22%
+26%
-3%+22%

+22%
+38%
-39%
+20%

H1-22
€ mln

H1-21
€ mln

Gross Profit
MarginEBIT Adjusted
MarginEBIT
MarginGroup Net Income

1,477
77.7%
331
17.4%
305
16.0%
188

1,115
74.3%
166
11.1%
166
11.1%
97

Net Financial Position

179-102

Retail channel drives growth
The Retail channel saw strong growth in sales up 26% yoy fueled by the offer of new and iconic
products with clear identity, driving a very good performance across all product categories. At brandlevel, Prada’s strong momentum delivered a sales increase of 28% yoy, up 46% on H1-19, while Miu
Miu’s growing visibility and acclaimed SS Fashion Show delivered sales up 14% yoy and above prepandemic levels.
We continue to see robust growth in the online channel and overall Retail contribution currently
accounts for 90% of Sales.
Retail performance by geography:
Growth at constant currency

H1-22
€ mln

Changevs. H1-21

Changevs. H1-19

Asia PacificEuropeAmericas
JapanMiddle East590
486
360
161
80-7%+89%+41%+28%+24%+26%+34%
+116%
-3%
+59%

Asia Pacific declined by 7% yoy to €590 mln as lockdowns in Mainland China from mid-March
impacted c.30% of the Group’s network; this impact was mitigated by the strong performancein Korea and South East Asia.
Mainland China has seen an improved trend since store re-openings in June.
Strong performance in Europe with sharp growth of 89% yoy across the region, driven by
domestic sales and an uptick in tourism in Q2-22.
The Americas have generated an outstanding sales performance of €360 mln, up 41% yoy andtriple-digit growth on pre-pandemic levels.
Japan saw an accelerating trend in the semester, generating €161 mln of sales up 28% yoy.
Middle East also registered a solid performance with sales up 24% yoy.
Wholesale: Rationalisation largely completed
The Group maintained a selective approach to the Wholesale channel with revenue slightly
decreasing by 3% yoy.

ESG: Our Group journey continues
The Prada Group has placed sustainability at the heart of its business approach and took anumber of steps in H1 to deliver progress towards its objectives. We have advanced on
Scope 1 & 2 emissions targets and we have continued to develop awareness within theorganisation. Our ambition, in the medium and long-term, is to become highly relevant within
the industry in specific ESG areas.
Confident on ability to achieve medium-term targets despite macro-economic uncertainty
Despite the highly uncertain global macro-economic environment, current trading remains
strong and H1-22 results accelerated the Group’s trajectory towards the mid-term targets.
Going forward, several factors could influence our performance, including the developmentof the health situation, the rate of recovery in consumer spending in Mainland China, andglobal geopolitical developments and economic risks as authorities seek to manage
challenges of inflation and possible recession.
These significant uncertainties make us vigilant, but the Group will continue to pursue its
strategy with confidence and determination. We will continue to develop our brands focusing
on creativity, quality and customer experience.
To achieve long-term sustainable growth, we intend to balance margin improvement with
continued investment in our people, distribution network, technological and manufacturing
infrastructure, omni-channel capabilities, and sustainability.

For further information:
Prada Group Press Office corporatepress@prada.com
About Prada GroupPioneer of a dialogue with contemporary society across diverse cultural spheres and an influential leader in luxury
fashion, Prada Group founds its identity on essential values such creative independence, transformation andsustainable development, offering its brands a shared vision to interpret and express their spirit. The Group owns
some of the world’s most prestigious luxury brands, Prada, Miu Miu, Church's, Car Shoe, the historic Pasticceria
Marchesi and Luna Rossa, and works constantly to enhance their value by increasing their visibility and appeal.
The Group designs, manufactures and distributes ready-to-wear collections, leather goods and footwear in morethan 70 countries through a network of 627 stores (at June 30th 2022) as well as e-commerce channels, selectede-tailers and department stores around the world. The Group, which also operates in the eyewear and fragrances
sector through licensing agreements, has 23 owned factories and more than thirteen thousand employees. For
more information, please visit www.pradagroup.com.