Prada (1913) investor relations material

Executive summary

• Nine-month net revenues were €4,540.7m, up 14.5% at constant exchange rates and 3.5% organically; reported growth was 11.6%.

• Q3 net revenues rose 11.2% at constant exchange rates and 1.2% organically, supported by brand desirability and retail execution amid challenging conditions.

Financial highlights

• Retail revenue was €3.934bn, up 11.0% at constant exchange rates and 2.0% organically in 9M; Q3 was stable organically versus +8% in Q3-25.

• Wholesale revenue rose 35.5% at constant exchange rates and 17.3% organically; royalties increased 76.5% and 16.1%, respectively.

• FX reduced reported revenue growth by 2.9 percentage points; full-year FX was estimated to weigh 150 bps on EBIT margin.

• Versace contributed €440.8m in net revenues; its retail sales contribution was €322m in 9M.

Outlook and guidance

• September and October trends were better than July and August; no major Q4 trend change was expected, with October carrying less weight than November and December.

• Organic growth was viewed as sufficient to keep margins steady without reducing investment; the final ±50 bps depended on the last two months of the year.

• Versace is preparing a new creative debut in 2027; priorities include full-price repositioning, closing non-strategic stores and strengthening the organisation.

• Ambition remains solid, sustainable, above-market growth, with continued vigilance on sector and macro headwinds.