Prada SpA : Still major leverage on the margin in H1, but growth seems set to slow down and the group needs to reinvest
>The EBIT margin expanded by 200bp in H2 but organic growth was quite clearly weaker in Q2 than expected - Following a 22% y-o-y increase in revenue at cc in Q1 (retail sales: +23%), the group’s H1 revenue grew by 20.5% y-o-y at cc in H1 to € 2,232m (retail sales: +21.1%), implying +19% in Q2 (retail sales: +19.3%). EBIT came to € 491m in H1, with the margin expanding y-o-y from 17.4% to 22.0% (the H2 2022 margin came to 22.4%). We were expecting H1 revenue to reach €...PRADA is engaged the luxury goods sector where it operates with the Prada, Miu Miu, Church's and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. Co. also operates, under licensing agreements, in the eyewear, fragrances and mobile telephone sectors. Co.'s products are sold in 70 countries worldwide through a network that included 540 Directly Operated Stores (DOS), and a select network of luxury department stores, independent retailers and franchise stores.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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