Net revenues slip 9% at Prada Group in FY17

April 19, 2017 - Italy

Net revenue for fiscal ended January 31, 2017, at premium fashion goods retailer Prada Group slipped 9 per cent year on year on a constant currency basis to €3,184.1 million. Of this, sales from the retail channel slipped higher at 13 per cent to €2,634.9 million. However net sales increased by 15 per cent to €504.4 million in the wholesale channel.

EBITDA in the period under review amounted to €653.4 million or 20.5 per cent of revenue as against 22.6 per cent of revenue in the previous fiscal.

Net income in fiscal 2017 totalled to €278.3 million or 8.7 per cent of revenue, which was also down from 9.3 per cent of revenue in fiscal 2016.

During the fiscal, the group generated a strong operating cash flow of €632 million, up from €368 million in the earlier fiscal, primarily due to the efficient management of net working capital, in particular to the significant reduction in inventory levels. (AR)